The Monte Vista journal., 1910-10-15

lag the state indebtedness" and shall
indicate his approval or disapproval by
p plsss : cro:s Sx1 opposite one or the
ballot. N ~ VI fo' On MS
The votes cast for the adoption or
rejection OF said amendment shall be
canvassed. and the result determined, in
the state for the canvass of votes for
representatives In congress.
Section 4. Immediately upon ascer-
constisution has b.sn sdopssa b TO tn. the
people OF the state, the governor, state
s aud, r., state treasurer. attorney gem
together at the office Of the state tate tr aas.
urer and organize a. a debt funding
board; by electing one Of its members
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
ana file the same with the secretary OF
state Officers. for. the faithful dis
charge Of the duties required by this
act Said board is hereby authorized
s sa1S for persons and papers. administer
oa.ns. and perform other acts neces-
charge eh, Of 1t. duties. The treasurer
clerical help required by the board.
said board shall consider and deter
mine the amount which should fairly
a and eauitably be paid upon each Of
ton of the state, and shall thereupon
make and file full and complete
statement Of its findings and determin-
asion win the auditor OF the state. and
the decision Of majority of said board
with respect thereto shall be final.
Section s. After said board has filed
It's report with the auditor of state, the
governor. the treasurer and the sscre-
Issue the bonds Of the State OF Colo
rado In accordance with the Constitu-
ton so amended In a sum not exceed
ing Two million. one hundred and M
and to exchange said bonds. or so
many thereof as may be necessary. at
par and accrued interest. for said war
and Of for the h STATE ys. Of ss 1855 %
1892: 1893. 1894 and 1897. at par and
the interest accrued thereon. upon sur
render OF an equal amount of said war:
rants Tor cancellation. The holders of
any said warrants may pay Into the
state treasury any difference less than
10000 each; necessary to pay for the
Said bonds shall be dated December
LIST. 1910, shall be due and payable in
tfty 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
payable semi-annually at the office of
the state treasurer In the City Of DEN
Yer. Colorado. or in the City of New
consecutively. beginning at number
one. and shall be registered in the o.
flee Of tho auditor of state. and his
ss.t!n at %, Of such resist.stion; a.;
to each bond. shall be evidence Of their
legal issue.
this act shall be known As Funding
signed by the governor. countsrsisned
by the state treasurer. and attssted by
the secretary Of state. who shall affix
'ns saa So ss: Of The state to Zach pond
registered In . book kept for that pur-
pose by the state auditor and state
ire trsa,:ur.r In the order IL which they
70 the bearer. and shall 9tats upon its
face the amount for which II 10 Issued.
the date Of Its issuance. and the title Of
srticis Of sks eonstisuti lon :sSor s
the Issuance OF said bonds. and the Il.
tie and text Of this act shall be printed
Sona oniy such . ana s 81 see
Of said bonds. shall BE- issued % may
os nsf s:sary to take Up or Pay sse out
above mentioned.
vided In this act are issued. Il shah be
the duty Of the state board of squali1A-
ton to levy and assess q special tax on
Client in amount to meet the ssmi an :
nual Interest accruing on said bonds,
which tax when collected shall be paid
into the state treasury to the credit Of
as Funding Bonds. Series OF isi0:
and for the ultimate redemption OF said
bonds there shall be levied annually
the date of their issuance. such a tax
upon all the taxable property In the
state a. shall create an annual fund
!shes) of the whole amount OF the
bonds Issued. which fund shall be
sailed Funding Bonds. Series Of 1910
N, Al d.nss for Interest upon and 70.
levied and collected as other state
taxes. and shall be paid into the state
treasury In cash only. The proceed.
ursr a. . distinet FUND under nd the prop prop.
the interest rest, on and for the redemption
s Temp po vi 1ss ' .sa S9Ts no o;h.,
.rss,, nI an. .ny ,:Irplu: ssm.in. to n.
In any year. the state treasurer shall
cause such surplus to be transferred
to the credit OF tho Funding Bonds
All moneys Belonging 10 said sink,ns
fund may be Invested by the stats
treasurer In any OF the bonds issued
under this act. but not otherwise.
Section .. The treasurer shaii Include
In his bienniaT report q statement ol
the interest collected In pursuance OF
this act. the amount paid. and also thu
amount. u any. carried to the sinking
fund. and how Invested. When any 81
the said bonds are purchased or re-.
deemed under this act, II shall be ths
the same. 30 that they can be pininI,
Identified. and cause the record OF such
cancellation TO bs made In the registr,