The state herald., 1908-10-16


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 the amounts due on the
outstanding warrants of the State as
prescribed In this Act.
Section Z. Whenever the bonds pro-
vidcd In this Act are issued. 1t shall be
the duty Of the state board of equali-
zation to levy and assess special tax
ON all taxable property In this State
sufficient in amount to meet the semi
annual interest aecruing on said
bonds, which tax when collected "hall
he paid into the State Treasury to tho
credit of the interest fund of sail
bonds, known as Funding Bonds. Ser
les of 1907 n Il for the ultimate re-
demption of said bonds. there shall be
levied annually for Ave years. after
ten years from the date of their issu-
nnce. such Il tax upon all of the taxa
BILE property of the State as shall Gre
ate an annual fund equal to twenty
GOD per centum of the whole amount
be called Funding Bond, Series of
1909, Sinking Fund" All taxes for
interest upon and for the redemption
be paid into the State Treasury in cash
only; tho proceeds thereof shall be
Kept by the State Treasurer as dis
tinct fund under the respective heads.
To be used In payment of interest on,
ana redemption of said bonds, or for
their purchase as hereinafter provided,
.
Provided. that whenever any surplus
remains to the credit of the interest
fund after the full 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 1903, 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
Section s. The Treasurer shall In
| cludc 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 bonds are purchased or re-
deemed under this Act. 1t shall be the
| duty OF the Treasurer to cancel the
same, so that ,hcy can he plainly lden-
| tliled, and to cause the record of such
cancellation to be made in the regis
| try books of both the State Treasurer
and the State Auditor. and they shall
| he Kept on file In the State Treasurer's 3
office; and any such purchases and
| cancellations shall also appear in said
hicnnial statement OF the Treasurer.
Section .. For the payment of the
| coupons representing the first year
| interest accrued and due on bonds is
sued under this Act. the state Treas
urcr Is hereby authorized and directed
| 10 Apply any money at thnt time In his
hands belonging to the general reve-
| enuc fund. or the funds accruing from
Interest on bank deposits: and so much
money as mny he necessary therefor,
| Is hereby appropriated out OF such
funds FOR the payment of said Inter-
| est.
Section 10. The Governor and Attor-
! ucy General are authorized to pre-
/ scribe the form of the bonds to be is
/ sued under this Act. and the coupons
| attached thereto subject to the Erovis-
| 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 hereun-
| to set my hand and affixed the great
| seal Of the State Of Colorado at the
! city Of Denver. this 29th day OF sept,
! a n. sos
TIMOTHY OCONNOR.
! tScal) Secretary Of State.