The new era., 1910-10-27

and file the same with the secretary Of
state, in the usual form required OF
state officers. for, the faithful dis
charge of the duties required by this
act. Said board is hereby authorized
and empowered to subpoena witnesses:
send for persons and papers. administer
oaths, and perform other acts neces-
sary to the speedy and proper dis Us
and auditor shall furnish the necessary
clerical help required by the board;
Said board shall consider and and deter. Letter.
mine the amount which should falrly
and equitably be paid upon each OF
said warrants. and is an honest obliga-
tion of the state. and shall thereupon
statement tt9 it Of its findings and determin;
alton with the auditor Of the state. and
the decision Of a majority, Of said ei poaro
Section s. After said board mas 1iieo
its report with the auditor of state, the
governor. the treasurer and the secre-
issue the bonds of the State of Colo
RADIO in accordance with the Constitu-
teen thousand dollars ($2.1l ,O0o.oo9
and to exchange said bonds. or SO
many thereof as may be necessary, at
par and accrued interest. for said war,
rants of the State of Colorado, issuea
in and for the. years 1887. 1883. 1889;
the interest accrued thereon, upon sur
render of an equal amount or sald war
rants Tor CanCellatlOn. Inc u
any said warrants may pay into the
state treasury any difference less than
100000 each, necessary to pay for the
bonds so delivered to them respectively.
Said bonds shall be dated December
LIST, 1910, shall be due and paya6le IN
fifty years, with the option OF redemp-
tion at par and accrued interest In the
order of their number at any time a1t-
er ten years from their date, at the Of
flee of the state treasurer OF the state
of Colorado, and shall bear interest at
the rate of three per cent. per annum,
payable semi-annually at the office OF
the state treasurer In the SIN, Sity OF OF Uenv Eaw
York. said bonds shall be numbered
consecutively, beginning at number nun oe
one, and shall be registered In the Of
certificate of such registration. at
tested by the seal of his office affixed
to each bond, shall be evidence OF their
Section 6. The bonds issued under
this act shall be known as Funding
signed by the governor. countersigned
by the state treasurer, and attested py
the secretary of state, who shall ,G ARK
Said bonds shall be numbered and
registered in book kept for that pur-
are issued. Each bond shall be payable
TO the bearer. and shall state upon Its
the date of its Issuance, and the title OF
this act, together with the section and
article of the constitution authorizing
the issuance of said bonds. and the IL.
tie and text of this act shall be printed
on the reverse side Of each of said
bonds. only such amount and number
of said bonds, shall be issued as may
be necessary to take up or pay the out
standing warrants of the state herein
above mentioned.
Section Z; Whenever the bonds pro
vided in this act are issued, 1t shall be
the duty of the state board of equaliza-
tion to levy and assess special tax on
state
client in amount to meet. the semi-an-
nual interest accruing on said bonds,
into the state treasury to the credit of
the interest fund of said bonds. known
as Funding, Bonds. Series of 191O;..
and for the ultimate redemption of said
bonds there shall be levied annually
for forty years. after ten years from
the date of their issuance. such tax
upon all the taxable property In the
state shall create an annual fund
equal to two and one-half per. cent
bonds issued. which fund shall be
called Funding Bonds. Series of 1910.
Sinking Fund"
the redemption of said bonds shall be
levied and collected as other state
taxes, and shah be paid into the state
thereof shall be kept by the state treas
urer as distinct fund under the prop
er heads. to be issued in payment of
of said bonds or for their purchase as
hereinafter provided, and o iGr no other ther
ny to the
credit OF said Interest fund, after the
fun payment of the interest maturing
In any year the state Ire shall
to the credit Of the Funding Bonds
Series of 1910; Sinking Fund"
All moneys belonging to said sinking
fund may be invested by. the state
treasurer in any of the bonds issued
under this act, but not otherwise.
f.N,, tra c1, ty1N1 1yvHA
in his biennial report a statement of
the interest collected in pursuance of
this act. the amount paid. and also the
amount. If any, carried to the sinking
fund, and how invested. When any OF
the said bonds are purchased or re-
deemed under this act. 1t shall be the
the same, SO that they can be plainly
identified, and cause the record Of such
books of both the state treasurer and
the state auditor. and they shall also
be kept on file in the state treasurers
cancellations shall also be made to APP
pear in the biennial statement OF the
state treasurer.
pons representing the first years In
terest accrued on the bonds to be Is
sued under this act, the state, treasurer
is hereby authorized and directed to
apply any moneys at that time In his
hands belonging to the general reve-
nue. fund or the funds accruing from
interest on bank deposits; and so much
money as may be necessary therefor Is
hereby appropriated out of such funds
for the payment of said interest.
Section 10. The governor and attor-
ney general are hereby authorized. to
prescribe the form of the bonds and
coupons to be issued under this act.
subject to the provisions of this act:
and all such bonds acquired for and
retained in the school fund, shall haye
the words Not Transferable" plainly
stamped across the face of said bonds.
Approved, April 2Srd, 1909.
In testimony whereof, have here
unto set my hand and affixed the great
seal of the State of Colorado, at the
City of Denver. this goth day of Sep
(seaD JAMES B. PEARCE.
Secretary of State.