The daily sentinel., 1910-10-18


state in the usual form required OF
state officers, for the faithful dis
charge OF the duties required by TINS
act. said board is hereby authorized
and empowered to subpoena witnesses.
send for persons and papers, administer
oaths. and perform other acts neees-
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 fairy
and equitably be paid upon each OF
said warrants, and IS an honest ohliba-
tion Of the state, and shall thereupoh BON
make and file a full and compiete
statement Of It's findings and determln,
alton with the auditor Of the state, anu
the decision Of a majority Of said 5oard
with respect thereto shall be tlnh.
Section g. After said board has filed
it's report with the auditor Of state. the
governor, the treasurer and the sesre-
tary of state are hereby authorized TO
Issue the bonds of the State of Colo
RADIO In accordance with the Constitu-
tion so amended In a sum not exceed
ing two million, one hundred and fif-
teen thousand dollars ts2.ll5,OOO-OO)
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. 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 foH the
bonds so delivered to them respectively.
Said bonds shall be dated December
Ist, 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 art
er ten years from their date. at the Of
flee OF the state treasurer Of the Stale
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 numbered
consecutively, beginning AZ 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 G. The bonds issued under
this act shall be known as Funding
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 payable
to the bearer, and shall state upon its
face the amount for which II Is issued.
the date of its Issuance, and the. title of
this act, together with the section and
article Of tho 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. shan be issued as may
standing warrants OF the state herein
above mentioned.
Section T. Whenever the bonds pro-
vided in this act are issued. IT shall be
the duty of the state board of equaliza-
ton to levy and assess special tax on
all taxable property in this state suffl-
cient in amount to meet the semi-an-
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 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 a tax
upon all the taxable property In the
state as shall create an annual fund
equal to two and one-halt per cent.
t2h%) of the whole amount OF the
bonds Issued. which fund shall be
sailed S3, "Fundins Bonds, Series of 1910,
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 a distinct fund under the prop
er heads, to be issued in payment of
Of said bonds. or for 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 such surplus to be transferred
to the credit OF the Funding Ronds
Series OF 1910, Sinking Fund
Al moneys belonging 10 said sinking
fund may be Invested by tho state
treasurer In 10 hpnhs fss
under this act. but not otherwise.
Section 8. The treasurer shall include
the interest collected in pursuance of
this act. the amount paid. and also the
amount, II any, carried to tho sinking
the said bonds are purchased or re-
deemed under this act, It shall be tho
duty OF the state treasurer to cancel
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 treAsursrs
office; and any such purchases and
cancellations shall also be made to APP
pear in tho biennial statement of the
Section .. For the payment of eou-
pons representing the first years In
tsrest 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 acoruing 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. 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 I;
and all such bonds so ACQUIRED for and
retained in the school fund. shaM have
the words Not Transferable" plainly
stamped across the face of sstd bonds
Approved, April 23rd, 1899
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 2eth day OF Sem
tember. A. D. 1910.
tSeaD JAMES B. PEARCE,
Secretary of State