The daily sentinel., 1910-10-10

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
charge OF its duties, The treasurer
and auditor shall furnish the necessary
clerical help required by the board
Said board shall consider and deter
mine the amount which should fairly
and equitably be paid upon each OF
said warrants, and is an honest obltEa -
tion OF the state, and shall thereupon
make and file a fun and complete
statement of its findings and determin-
alton with the auditor OF the state. and
the decision Of a majority of said board
with respect thereto shall be final.
Section 5. After said board has filed
its report with the auditor of state the
governor. the treasurer and the secre-
tary Of state are hereby authorized to
issue The bonds Of the state of Colo
RADIO in accordance with the Constttu-
tion so amended In a sum not exceed
ing two million. one hundred and fit-
teen thousand dollars (s2, 115,OO0.OOD
and to exchange said bonds. or so
mGny thereof may be necessary. at
par and accrued Interest. for said war
rants Of the State of Colorado. Issued
In and for the years 1887. lSsS, 1883,
1892, 1898. 1894 and 1897, at par and
the interest accrued thereon. upon sur
render OF an equal amount of said war
rants for cancellation. The holders OF
any said warrants may pay into the
state treasury any difference less than
10000 each. necessary to pay for the
bonds so delivered to them respectively.
Said bonds shall be dated December
ist, 1910 shall he due and payable In
fifty years, with the option of rodemp-
tiou at par and accrued interest in the
order OF their number at any time aft
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
3 h.. ulf NVR -
Yer, Colorado. or In the City Of New
York. said bonds shall be numbered
consecutively. beginning at number
one. and shall be registered in the Of
flee Of the auditor of state, and his
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
Bonds, Series OF 1910" and shall be
signed by the governor. countersigned
b. the state treasurer, and attested by
the secretary OF state, who shall affiN
the great seal OF the state to each bond.
said bonds shall be numbered and
registered in book kept for that pur-
pose by the state auditor and state
treasurer in the order In which they
are issued. Each bond shall be payable
TO the bearer, and shall state upon its
race the amount for which II I. Issued,
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 IT,
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 bond. 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
all taxable property In this state suffi-
q fHN 5 n ~ UWaN 4 s1..
nual Interest accruins on said bonds,
which tax when collected shall be paid
INTO the state treasury to the credit of
the interest fund OF said bonds, known
as Funding Bonds, Series of i9l0:"
and Tor the ultimate redemption of said
bonds there shall be levied annually
the date of their issuance. such tax
upon ell the taxable property in the
equal to two and one-half per cent,
(2hT) Of the whole amount of the
bonds issued. which fund shall be
S,n Sf IIed "Tundins Bonds. Series of 1910,
All taxes for interest upon and for
the redemption of said bonds shall be
levied and collected as other state
taxes. and shall be paid into the state
treasury in cash only. The proceeds
thereof shall be kept by the state treas
urer as distinct fund under the prop
er heads, to be issued In payment of
the interest on and for the redemption
or SAID bonds, or Tor their purchase as
Htfelndllef plNNlu'uT dnu kur no OF tler
purpose Whatever; Provided. that
whenever any surplus remains to the
credit of said interest fund. after the
iull payment Of the interest maturing
in any year, the state treasurer shall
cause such surplus to be transferred
TO the credit OF the Funding Bonds,
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
Section 4 The shall Ia f,td
IN his biennial report a statement OF
the interest collected in pursuance of
amount, II any. carried to the sinking
fund. and how invested. When any OF
the said bonds are purchased or re-
deemed under this act II shall be the
duty OF the state treasurer to cancel
the same, so that they can be plainly
Identified. and cause the record OF such
cancellation to be made In the registry
books of both the state treasurer and
tho state auditor. and they shall also
be kept on file In 'he state treasurer's
office; and any such purchases and
cancellations shall also be made to ap-
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 accruinS from
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 ponds so acquired for and
retained In the school fund. shaw have
the words Not Transferable" plainly
stamped across the face of said bonds
Approved. April 23rd 1903
In testimony whereof. I have here
unto set my hand and affixed the great
seal of the state OF Colorado, at the
city OF Denver. this zsth day OF Sep
tember. a. d. 1910.
(SeaD JAMES 3. PEARCE,
Secretary