The daily sentinel., 1910-10-14

ana empowered to subpoena witnesses,
send for persons and papers. administer
oaths 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 obliSa-
I ton OF the state. and shall thereupou
make and file full and complete
statement of its findings and determin-
alton with the auditor OF thc state. and
the decision OF majority Gf said board
with respect thereto shall be final.
Section B. After said board has filed
its report with The auditor OF state. the
governor, the treasurer and the secre-
tary of state are hereby authorized to
radO In accordance with the Constitu-
tiou so amended in sum not exceed
ing two million, one hundred and fif-
teen thousand dollars ts2.tl5,OOo.O
and TO exchange said bonds. or so
many thereof as may be necessary, at
par and accrued Interest for said var
rants OF the State OF Colorado. issued
in and for the years 1887. 1SSS. 1859.
1882. 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 s4nference less than
bonds so deliver<Hto them respectively.
said bonds shatss be dated December
fifty years. with 1he option Of redeDsp
tion at par md ac-rqed lnterest fpfthe
order Of their number4at any time att
or 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.
pay able semt-annually at the office OF
the state treasurer In the city Of pen
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 mis-
certificate OF such registration, at
to each bond, shall be evidence OF their
Section 6. The bonds Issued dkesr
this act shall be known as "Fundffes
Bonds, Series Of 1910" and shall be
signed by the governor countersigned
by the state treasurer, and attested by
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 us
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 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 Z Whenever the bonds pro-
vided in'this act are issued, IL shall he
the duty of the state board Of equaliza-
tion to levy and assess a special taN on
all taxable property in this state suffl-
eient 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 lglO:"I
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-half per cent.
t2h%b 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 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
herthatter provided, aud Tor no other
,fpurposp Whatever. Prov ided. that
wAsneNer any surplus remains to the
credit Uf said interest fund after the
sfpll ipayment Of the interest maturing
<any year, the state treasurer shall
S41ase such surplus to be transferred
10 the credit OF the Funding Bonds
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 s. The treasurer shall include
In his biennial report statement of
this act, the amount paid. and also the
amount. IL any, carried to the sinking
fund. and how Invested. When any OF
the said bonds are purchased or re-
deemed under this act, II shall be the
duty OF the state treasurer to cancel
the same, so that they can be plainly
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 treasurer's
office; and any such purchases and
cancellations shall also be made to ap-
pear In the biennial statement of .ths
Section 9. For the payment of cou-
pons representing the first years in
terest 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-
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 0he bonds and
coupons to be issued under this act.
subject to the provisions of this act;
and all such bonds acquired for and
retained in the school fund. shan have
the words Not Transferable" plainly
stamped across the face OF said bonds.
Approved. April card. 1909
In testimony whereof, | have here
unto set my hand and affixed the great
seal OF the State OF Colorado. at tho
City OF Denver. this 2sth day of Sep
tember. A. d. 1910.
(SeaD JAMES r. PEARCE,
Secretary of State.