The daily sentinel., 1910-10-07

take and subscribe an oath of office
and file the same with the secretary OF
state. In the usual form required of
charge OF the duties required by this
act. Said board is hereby authorized
and empowered to subpoena witnesses,
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 oblIga-
ton OF the state, and shall thereupon
make and file a fuH and complete
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
it's 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-
tion SO amended in sum not exceed
teen thousand dollars (s2.115.0 .000. .00)
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. issued
in and for the years 1887. 1Sss. 1852
1882, 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 10 them respectively.
Said bonds shall be dated December
list, 1870 shall he due and payable In
flfty years. with the option of redemp
uon 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 mi-annuhlly at the office OF
the state treasurer In the City of Dem
Yer. Colorado. or in the city of New
York. Said bonds shall be numbered
consecutivcly. beginning at number
one. and shall be registered in the Of
flee OF the auditor of state, and his
tested by the seal OF his office affixed
to each bond, shall be evidence OF their
legal Issue.
Section g. The bonds Issued under
Bonds Serles of 1910" and shall be
signed by the governor. countersigned
by the state treasurer and attested by
the secretary OF state. who shall affix
the great seal of the state 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
face the amount for which 1t is 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 II.
tie and text of this act shall be printed
on the reverse side of each of said
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 7. Whenever the bends pro-
vided in this act are issued. Il shall be
the duty of the state board Of Nqualiza-
n Ia nd IL
all taxable property in this state suffi-
Client in amount to meet the semi-an-
nual Interest accruing 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 1870"
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 an annual fund
e9uaI to two and one-half per cent.
bomnSS) bbSmSS) sd OF the Tfohe Whole smount sI Of the
Sinking Fund"
the redemption Of said bonds shan be
levied and collected as other state
taxes, and shall be paid into the state
thereof shall be kept by the state treas
urer as a distinct fund under the prop
er heads. to be Issued In payment OF
hiA' iulti'HA pH anu IpT tnh redemption
OF said bonds, or tor their purchase as
hereinafter provided. and for no other
p3hrpose h whstsyeri Provided. that
credit of said interest fund after the
fun payment OF the interest maturing
In any year, the state treasurer shall
to the credit of the Funding Bonds,
Series Of 1910, Sinking Fund.-
Al moneys belonging 10 said sinking
fund may be Invested by the state
treasurer In any OF the bonds issued
under this act. but not otherwise
section y. The treasurer shall include
IN his biennial report statement of
the interest collected in pursuance OF
THIS act. the amount paid, AMI also the
amount, II any carried to the sinking
the said bonds are purchased or re-
deemed under this act. 1t 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
the state auditor, and they shall also
be kept on file In the state treasurer's
office; aud any such purchases and
cancellations shall also be made to ap-
pear In tho biennial statement of the
state treasurer
Section .. For the payment of cou-
the banS, frss year, in
sued under this act. the state treasurer
Is hereby authorized and directed to
apply any moneys at that time in his
nue. fund. or the funds accruinR from
interest on bank deposits; and so much
money as may be necessary therefor 10
hereby appropriated out OF such funds
for the payment OF said Interest.
Section 10. Ths 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 SO acquired for and
retained in the school fund, shall have
the words Not Transferable" plainly
stamped across the face of said bonds
Approved. April 23rd. 1909.
In testimony whereof. have here
seal of the State OF Colorado, at the
City of Denver. this 7sth day of Sep
tember. A. ID. 1910.
tSeaD JAMES B. PEARCE,
Secretary of State.