The daily sentinel., 1910-10-04

state. In the usual form required OF
state Officers. for the faithful dis
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, ana 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 rcqsirsd 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 il an honest obllga-
statement OF it- findings and determin-
the decision of majority of said board
with respect thereto shall be final.
Section 5. After said board has filed
it's report with the auditor Of state. the
governor, the treasurer and the secr1-
tary Of state are hereby authorized to
Issue the bonds OF the State OF Colo
RADIO in accordance with the Constitu-
tion 30 amended In sum not exceed
Ing two million, one hundred and fif-
teen thousand dollars CSC, 900. 00)
and to exchange said bonds, or so
par and accrued interest, for said war
rants OF the State of Colorado. issued
in ana for the years 1887, 1855. 1889,
1892, 1888. 1884 and 1897, at par and
the interest accrued there On, upon sur
render OF an equal amount Of said war
rants for cancellation, The holders OF
any Hblu 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
LIST, 1910. shall be due and payable in
fifty years. with the option OF redemp-
tiOn at par and accrued interest I'm the
order OF their number al any time aft
er ten years from their date, at the Of
lice OF the state treasurer of the State
Of Colorado. and shall bear Interest at
the rate OF three per cent per annum-
Il RsF1l- ann Ffa1 Nas he gff 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 at number
one, and shall be registered I'm the Of
flee OF the auditor OF state. and his
certificate OF such registration. at,
TO each bond, shall be evidence OF their
legal Issue
Section C. The bonds issued under
THIS act shall be known as Funding
Bonds, Series OF 1910" and shall be
signed by the governor, countersigned
by the state treasurer and attested by
the secretary OF state, who shall affiN
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 IL 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 III
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.
Section I; Whenever the bonds pro-
Vlded In IN act are issued. IT shall be
the duty of the state board OF equaliza-
ton to levy and assess n special tax ON
all taxable property in this state sufn-
cient In amount to meet the semi-an-
nual Interest accruing on said bonds,
which tax when collected shall he paid
into the state treasury to the credit of
the interest fund OF said bonds, known
as Funding Bonds. Series OF 1870
and for the ultimate redemption of said
bonds there shall he levied annually
for forty years. after ten years from
the date of their issuance. such tax
upon all the taxable property in the
state as shan create an annual fund
e9uaI TO two and one-half per. cent.
Szh,e) OF the whole amount of the
bonds issued, which fund shall be
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 paid into the state
treasury in cash only. The proceeds
thereof shall be kent by the state treas
urer as "A distinct fund under the prop
er heads. to be issued IN payment of
OF SAID bonds. or fDr 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 sue surplus to be transferred
to the Credit of the Funding Bonds,
Series OF 1910, Sinking Fund"
Al moneys belonging 10 said sinking
treasurer In any Of the bonds Issued
under this act, but not otherwise.
section 5. The treasurer shall include
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
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 treasurer's
office: and any such purchases and
cancellations shall also be made TO ap-
pear In the biennial statement Of the
pom. rspre..4tins the hrst years Ia
sued under this act. the state treasurer
Is hereby authorized and directed to
apply any moneys at that tiae in his
sun or ts FUNDS hs 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 attoy-
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 rransferable' plainly
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
TENDER. A. d. 1910.
(Seal) JAMES 3. PEARCE,
Secretary of State