The daily sentinel., 1910-10-17

state. in the usual form required OF
state officers. for the faithful dis
act Said board is hereby authorize ed
and empowered to subpoena witnesses.
send for persons and papers, administer
osths. 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-
| tion OF the state. and shall thereupon
make and file fun and complete
statement OF its findings and determin-
alton with the auditor of the state, and
the decision OF majority OF said board
| with respect thereto shall be final.
Section ). After said board has filed
It's report with the auditor OF state, the
governor. the treasurer and the secre-
| 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 sum not exceed
ing two million, one hundred and fif-
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. 1889,
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
$4,000 each, necessary to pay for the
bonds so delivered to them respectively.
Said bonds shall be dated December
1st, 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 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-annuslly at the office Of
st n to fpaaI IaHN NVaN af Ian
yer. Colorado. or in the city OF New
York. said bonds shall be numbered
consecutively, 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
Bonds, Series of 1910" and shall be
signed by the governor. countersigncd
by the state treasurer. and attested by
the secretary of state. who shall affiN
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 the constitution authorizing
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 be issued as may
be- necessary to take up or pay the out
standing warrants of the state herein
above mentioned.
vided in this act are issued. 1t shall be
the duty of the state board Of equaliZa-
uon to levy and assess special tax on
all taxable property in this state suffi-
Client 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 l9lO:"
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
equal to two and oue-hat per cent
l2hF) of the whole amount OF the
bonds issued. which fund shall DO
| called Funding Bonds, Series of 1910,
| Sinking Fund"
All taxes for interest upon and for
| the redemption OF said bonds shall be
| levied and collected as other state
taxes. and shall be pslc 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
the interest on and for the redemption
| of said bonds. or .ur 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
| fun payment of the interest maturing
in any year, the state treasurer shall
cause su,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 inverted by the state
| treasurer In any OF the bonds issued
under this act, but not otherwise
Section 5. 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. II any, carried to the sinking
fund. and how, Invested. whs. any OF
| the said bonds are purchased or re-
| deemed under this act, 1t shall be the
| duty or 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
DO kept on file in the state treasursr's
offtce; and 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 oou-
pons representing the first years in
| tsrest accrued on the bonds to be Ia
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 accruing from
| interest on bank deposits; and so much
money as may be necessary therefor Is
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. shall have
the words Not Transferable" plainly
| stamped across tho face of said bonds.
| Approved, April gard, 1898.
| 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 2sth day of Sep
| tembsr. A. D. 1910.
tSeaD JAMES B. PEARCE.