The Paonia newspaper., 1910-10-21

of Article XI of the Constitution. Fund
insicate ins his approval or disapprovai by
niacing a cross (X) opposite one or the
other of said groups OF words on MS
The votes cast for the adoption or
rejection of said amendment shall be
canyassed and the result determined. In
the manner prescribed by the laws OF
the state for the canvass OF votes Tor
regeesen5attiVeff ggeeton fmmediaieiy an upon ascer-
tanning that said amendment to the
Constitution has been adopted by the
people of the state. the governor. state
auditor state treasurer. attorney gen.
eraI and secretary of state shall meet
urer. and organize as debt-funding
board by electing one of Its members
president and another secretary of said
board. Each member of said board. and
/ any of their successors In office. shall
and file the same with the secretary of
state, in the usual form required of
shaTee efa1e otte Of the duties eeanired 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
and auditor shall furnish the necessary
clerical help required by the board:
Said board shall consider and deter
and equitably be paid upon each OF
said warrants, and is an honest obliga-
tion of the state. and shall thereuP3n
statement of its findings and determin,,
alton with the auditor of the state. and
the decision of majority of said board
with respect thereto shall be final.
Section 5. After said board has filed
governor. the treasurer and the secre-
tary of state are hereby authorized TO
issue the bonds of the State of Colo
tion so amended in a sum not exceed
ing two Million. one hundred and fif-
teen tho1ssnd dollars sa Go1dsoSSoso s2Ids 90 90
par and accrued interest. for said war,
in and for the years 1857. 1858. 1889,
1892. 1898, 1894 and 1897, at par and
the interest accrued thereon, upon sur
render of equal amount of said war
rants for cancellation. The holders of
any said warrants may pay into the
state treasury any difference less than
$4,000 each. necessary to pay for the
bonds so delivered to them respectively.
Said bonds shall be dated December
1st. 1910. shall be due and payable In
fifty years. with the option of redemp-
tion 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
payable semi i-annually at the office OF
the state treasurer in the City of Den
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
signed by the governor. countersigned
by the state treasurer. and attested by
the the great seal Of the state "D to each bond.
Said bonds shall be numbered and
registered in a 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
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 til
tie and text of this act shall be printed
bonds. Only such amount and number
of said bonds. shall be issued may
be necessary to take up or pay the out
standing warrants of the state herein
above mentioned
Section I. Whenever the bonds pro-
vided in this act are issued. IT shall be
the duty of the state board of equaliza-
tion to levy and assess a special tax on
all taxable property In this state suffi-
nual Interest accruing on said bonds.
which tax when collected shall be paid
the interest fund Of said bonds. known
as Funding Bonds. Series OF 1910"
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 as shall create annual fund
equal to two and one-half per cent.
t2z%) Of the whole amount of the
bonds issued. which fund shall be
called Funding Bonds. Series of 1910.
Sinking Fund
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
of said bonds, or for their purchase as
hereinafter provided, and for no other
purpose whatever: Provided. that
whenever any purplus remains to the
credit OF said interest fund. after the
fun 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,
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.
Section .. The treasurer shall include
In his biennial report "A statement OF
the Interest collected In pursuance of
this act. the amount paid. and also the
amount. IL any. carried to the sinking
the said bonds are purchased or re-
deemed under this act, IL 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 he made In the registry
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