The daily sentinel., 1910-10-05

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, aud perform other acts neces-
charge Of its duties. The treasurer
and auditor shan furnish the necessary
clerical help required by the board
said board shall consider and deter
mine the amount which should fairly
and equitably he paid upon each or
said warrants. and is an honest obllga-
ton Of the state. and shall thereupon
make and file fun and complete
statement Of lis findings and detcrmin-
alton with the auditor Of the state, and
the decision of majority Of said board
with respect thereto shall be final.
Section 8. After said board has filed
its report with the auditor Of state. the
governor. the treasurer and the secrc-
tary of state are hereby authorized to
Issue the bonds Of the State OF Colo
rado In accordance with the Constttu-
tion so amended in a sum not exceed
ing two million, one hundred aud fif-
teen thousand dollars (s2,1l5.OO0.00)
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 1857. 1855. 1883,
1892. 1893. 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 paw for the
bonds so delivered to them respectively.
Said bonds shall be dated December
LIST, 1910, shall be due and payable in
fifty years, with the option Of redemp-
ton 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
the state treasurer in the city Of Den
Ner Colorado. or in the City of New
York. said bonds shall be numbered
consecutively. beginning at number
one. ana shall be registered in the Of
flee OF the auditor Of state. and hts
certificate Of such registration, at
tested By the seal of his office affixed
10 each bond, shall be evidence Of their
section 6. The bonds issued ander
this act shall be known as Funding
Bonds, Series Of 1910" and fihau be
signed by the governor. counfersigned
by the state treasurer, and aytested by
The secretary OF state who shall afftX
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 aud state
treasurer, In the order In which they
are Issued, Each bond shall be payable
70 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 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 he 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-
ylded In this act are issued. IL shall be
the duty of the state board of equallza-
tlon TO levy and assess a special tax on
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"
ana Tor the ultimate redemption OF said
bonds there shall he levied annually
Tor forty years. after ten years from
the date OF their issuance, such a tax
upon al the taxable property in the
equal to two and oue-halt per cent
l2h%) of the whole amount OF the
bonds issued; which fund shall be
called Funding Bonds, Series of 1910
All taxes for interest upon and for
me REDEMPTION Of said bonds shall be
taxes, and shall be paid into the state
treasury in cash only. The proceeds
thereof shall he 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
hereinafter pro, ided. and Tor no other
purpose whatever Provided, that
whenever any surplus remains to the
u.
fnl payment Of the interest maturing;
in any year, the state treasurer shall
cause su. u surplus to be transferred
Series of 1910, Sinking Fund"
All 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 ). 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, IL any. carried to the sinking
fund. and how invested. When amy OF
the said bonds are purchased or re-
deemed under this act, 1t shall be the
duty OF the state treasurer to cancel
Identified. and cause the record Of suoh
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 treasursr's
office; and any such purchases and
cancellations shall also be made to ap-
pear In the biennial statement of the
Section 8. For the pSyment Of oou-
pom. repre..9ting II. first y.sSs N
sued under this act. the state tresAarsr
apply any moneys at that time in Sis
funi or e. r. FUND. acsnsins from
interest on bank deposits; and so much
money as may be necessary therefor is
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 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. I have here
unto set my hand and affixed the great
seal OF the State of Colorado, at the
City of Denver. this 2sth day of Sep
tember, A. d. 1910.
(SeaD JAMES B. PEARCE.
Secretary of State.