The Paonia newspaper., 1910-11-04
.riaif. fn1e1rt1ness.... and tne ,voros !:

Inv the state Indebtedness" and shall
indicate his apprSyal or I;a dIisaPproVai, p ,bs bs
other of said groups of words on his
ballot.
rejection of said amendment shall be
canvassed. and the result determined, In
the manner prescribed by the laws of
the state for the canvass of votes for
representatives in congress.
Section 4. Immediately upon ascer-
constitution eas has been adopted by the
people of the state, the governor, state
auditor. state treasurer. attorney gem
eral and secretary of state shall meet
together at the office of thu state treas
urer, and organize as a debt funding
president and another secretary OF said
board. Each member of said board. and
any of their successors in office. shall
take and subscribe an oath of office
and file the same with the secretary of
state. in the usual form required of
ssaFse x ehs dSes hs sedared by shs this
act; Said board is hereby authorized
nd sn1 70 "a
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
said warrants. and Is an honest obliga-
tion of the state. and shall therenPon
statement of its findings and determin--
alton with the auditor Of the state. and
WIT With ee respect q thereto % shall b be Sin finaI 0
its report with the auditor Of state. the
tary OF state are hereby authorized to
issue the bonds of the State of Colo
RADIO in accordance with the Constitu-
ing two million. one hundred and fif-
teen thousand dollars, 42.1l5.ooo.ool
and to exchange said bonds. or so
par and accrued interest, for said war
rants of the State of Colorado. issued
1892. 1898. 1894 and 1897. at par and
the interest accrued thereon. upon SUR
render of an equal amount OF said war
any said warrants may pay into the
state treasury any difference less than
$4,000 each; necessary to pay for the
Said bonds shall be dated December
1st. 1910. shall be due and payable In
fifty years with the option OF redemp.
order of their number at any time aft
er ten years from their date. at the Of
of Colorado, and shall bear interest at
the rate Of three per cent. per annum:
payable semi-annually at the office of
yer. Colorado, or in the City OF New
York said bonds shall be numbered
consecutivsiy, besinnins at number nun Der
certificate of such registration. at
te each bona. .sair sa Gs be " evidsnce & Of their
Section &. The bonds issued under
Bonds. Series of 1910" and shall be
signed by the rnor.-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
pose t by the state A auditor % and ,aA state
treasurer. in the order In which they
are issued Each bond shall be payable
face the amount for which IL 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 a. 'text of this act shall be printed
bonds only such amount and number
of said bondn. shall be issued A. may
be necessary to take up or pay the out
standing warrants of the state herein
Section I. Whenever the bonds pro-
vided In this act are issued. II shall be
the duty of the state board Of equalfza-
tion to levy and ASSESS a special tax on
all taxable property In this state suffi-J
nual Interest accruing on said bonds.
which tax when collected shall be paid
into the state treasury TO the credit of
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 a tax
upon all the taxable property Ia the
state as shall create annual fund
equal to two and one-haif per cent.
t21%) of the whole amount OF the
bonds issued. which fund shall be
salled s:,,,,e rFnnda,ng Bonds, Series OF 1910.
Al taxes for Interest upon and for
the redemption OF said bonds shall be
taxes. ana shall be paid into the state
treasury In cash only. The proceeds
thereof shall be kept by the state treas
urer as n distinct fund under the prop
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
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
Series OF 1910, Sinking Fund.T Fi4lH1
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.ai.....- ... i
Section g.. The treasurer shall include
In his biennial report statement of
the Interest collected In pursuance OF
this act. the amount paid. and also the
amount, If any. carried to the sinking
fund. and how invested. When any OF
the said bonds are purchased re-
deemed under this act. IL shall be the
duty OF the state treasurer to cancel
the same. that they can be plainly
Identified. and cause the record of such
cancellation to he made In the registry
books of both the state treasurer and
the state auditor. and they shall also
h.. ks4a nm n In hs4e tot fro ~.