The state herald., 1908-10-23

reverse side of each of said bonds. Only
such an amount and number OF said
bonds shall be issued as may be neces-
sary. to pay tho amounts due on the
outstanding warrants of the State as
Section 7, Whenever the bonds pro-
vided in this Act are issued. 1t shall be
the duty OF the state board of equali-
zation TO levy and assess u special tax
on all taxable property in this state.
sufficient in amoprt to meet tho semi
annual interest accruing on said
bonds, which TAX when collected "hlil
be paid into the State Treasury to ,hc
bonds. known as Funding Bonds. Ser
les of 1909 a, for the ultimate re-
demption OF said bonds. there shall be
levied annually for iive years. after
nnce. such tax upon all of the taxa
BILE property OF the State as shall crs-
ate an annual fund equal to twenty
tsOl per centum of the whole amount
OF the bonds issued. which FUND shall
be called Funding Bond, Series OF
A9O9, sinking Fund" All taxes for
Of such bonds. shall be levied and col
lected as other State taxes, and shall
be paid into the state Treasury In cash
only; the proceeds thereof shall be
tinct fund under the respective heads.
10 be used In payment of interest on.
nnd redemption of said bonds, or for
their purchase as hereinafter provided,
and for no other purpose whatever.
Provided. that whenever any surplus
remains to tho credit of the interest
iund after tho fun payment of the in
terest maturing in any year. the State
Treasurer shall cause such surplus to
be transferred to the credit Of the
Funding Bond Series of 1909 Sinking
Fund" All moneys belonging to the
said sinking fund may be invested by
said State Treasurer In any OF the
bonds issued under this Act; but not
otherwise.
Section 9. Tho Treasurer shall in
clude In his biennial report n statement
OF the interest collected in pursuance
OF this Act. tho amount paid, also the
amount II any. carried to the sinking
tund. and how invested. When any OF
the said BOMBS are purchased or re
deemed under this Act, 1t shall be tho
duty OF tho Treasurer to cancel the
same, 30 that they can be plainly iden-
titled, ana TO cause the record OF such
try books OF both the State Treasurer
and the State Auditor. and they shall
he kept on file In the State Trcasurers
office; and any such purchases and
cancellations shall also appear In said
bionniaI statement of the Treasurer.
Section o. For the payment of the
coupons representing the first years
interest accrued and due on bonds is
sued under this Act. the State Treas
urer Is hereby authorized and directed
10 Apply any money ut that time In his
hands belonging TO the general reve-
enuc fund. or the funds uccruing from
interest on bank deposits. and 80 much
money as may be necessary therefor
Is hereby appropriated out OF such
funds for the payment OF said inter
est.
section 10. The Governor and Attor-
ney General are authorized to pre-
scribe the form OF the bonds to he is-
sued under this Act. and the coupons
attached thereto. subject to tho Egoyis-
Ions contained In this Act
Section II. This Act shall not he re-
viscd. amended or repealed until the
total amount OF the indebtedness here
In provided for is wholly paid and dis
charged,
Approved April 9th. 1907.
In testimony whereof, have hcrcun-
to set my hand and affixed the great
seal Of the state OF Colorado. at the
city of Denver. this sgth day OF sept.
A. D. 1905.
TIMOTHY O'CoNNoR,
tSeal) Secretary OF State.