The daily sentinel., 1910-10-19

and file the sams with the secretary OF
state. In the usual form required OF
charge Of the duties required by thi,
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 obliga-
ton OF the state, and shall thereupon
make and Ole a fun and comp. gte
alton with the auditor of the state. and
the decision Of a ma ajority 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 ard the saCrs s-
| tary Of state are hereby authorized to
rado In accordance with the Constitu-
tion SO amended In a sum not exceed
Ing two million, one hundred and fif-
and TO exchange said bonds. or so
many thereof may be necessary, at
par and accrued interest. FOR said war
in and for ths years 1887. 1855. 1859.
1892, 1888. 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
$4,000 each, necessary to pay for the
bonds so delivered to them respectively.
Said bonds shall be dated December
lst 1910. shall be due and payable in
fifty years, with the option Of redemp-
tion al 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 stat Q
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 city OF Den
yer, Colorado, or in the city OF New
York. Said bonds shall be numb
eonsecutiyely, 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
legal Issue
Section 6 The bonds issued under
this act shall be known as Funding
Ronds, Series OF 1910" aud shall he
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 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 payab
to the bearer, aud shall state upon its
face the amount for which II is issued
the date OF It's 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 shah 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 shah be
the duty of the state board of equaliZa-
tlon to levy and assess special tax on
all taxable property-in this state suffi-
cieht IN amount to meet the semi-an-
nuaf- 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 19Io."
and Tor the ultimate redemption OF said
bonds there shall be levied annually
Tor forty years. after ten years from
the date of their Issuance, suuh tax
upon all the taxable property in the
state Rs shall create an annual fund
equal to two and one-half per cent
t2hEl of the whole amount of ythe
bonds issued, which fund shall be
sSIleG s,pkin ,FHnd,rs EIns Bonds seris, 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
OF SAID bonds, or Tor their purchase as
hereinafter provided and for no other
purpose whatever; Provided, that
whenever any surplus remains to the
credit OF said interest fund after the
full payment of the interest maturing
In any year. the state treasurer shall
cause SUI h 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
Alt hFr Fffnf I.
Section s. The treasurer shall Include
IN MS biennial report statement of
the interest collected in pursuance OF
this act, the amount paid, and also the
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, 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
eaneellation 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 ,hs state trsasursrs
cancellations shall also be made to ap-
pear in tho biennial ststemsnt OF the
state treasurer.
pons representing the first years In
tersst accrued on the bonds to be is-
susd under this act the state treasurer
apply any moneys at that time in his
hahds belonsing to the general reve-
nue. iunos or tns funos accrutnH from
interest on bank deposits: and so much
meney as may be necessary therefor 10
hereby appropriated out of such funds
for the payment of said interest.
ney general are hereby authorized to
prescribe the form OF tho 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, shan have
tho words Not Transferable" plainly
slammed across thA faCo of said hnnAa
Approved. April 23rd, 1sss
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 29th day of Sep
tsmber. A. D. 1910.
(seaD JAMES B. PBARcB.