The daily sentinel., 1910-10-24

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. and perform other acts neces-
sary to the speedy and proper dis
charge of its duties. The treasurer
and auditor shah 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 obIiga-
tion OF the state, and shall thereUpon
statement of its findings and determln-
alton with the auditor OF the state, and
the decision Of a majority Of said board
with respect thereto shall be fin5l.
Section g. After said board has filed
It's report with the auditor of state, the
governor. the treasurer and the sscrs-
tary Of state are hereby authorized to
issue the bonds OF the State of Colo
radO In accordance with the Constitu-
ing two million, one hundred and fit
teen thousand dollars 5,00O.OO)
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. 1855, 1883,
the Interest accrre' .nereon. upon sur
render of an equal Dunt OF said war
rants for cancellation. The holders Cf
any said warrants may pay Into the
state treasury any difference less than
10000 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-annually at the office OF
tho 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 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. TIL. bonds issued under
this act shall b. 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
registered in a book kept for that purI
pose by the state auditor and state
treasurer In the order In which they
are issued. Each bond shall be pa yable
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
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-
yided in this act are issued. Il shall be
The duty OF the state board of equaliza-
lon to levy and assess special tax on
all taxable property in this state suffi-
cient in amount to meet the semi-an-
n a.
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:'
and for the ultimate redemption Of said
bonds there shall be levied annually
Tor forty years. after ten years from
the date OF their issuance. such tax
upon ell the taxable property IN the
state MS shall create an annual fund
bonds Issued. which fund shall be
sailed Funding Bonds, Series of 1910,
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
ursT as distinct fund under the prop
er heads. TO be Issued in payment of
the interest on and for the redemption
OF said bonds. or for their purchase az
hereinafter pro tdeG. and for no other
whenever any surplus remains to the
credit OF said interest fund. after the
full payment Of the interest maturing
In any year. the state treasurer shall
cause such surplus to he transferred
TO the credit OF the Funding Bonds
SERIES Of 1910, Sinking Fund"
All moneys belonging to said sinking
fund may be invested by the state
treasurer In any OF the bonds issued
under thls act hut not otherwise.
Section ). The treasurer shall Include
IN mis- biennial report statement OF
the interest collected in pursuance OF
this act. the amount paid. and also the
amount. II any. carried TO ths 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
the same. so that they can be plainly
CANCELLATION TO be made In the registry
books of both the state treasurer and
the stats suditor. and they shall alss
office: and any such purchaser and
csnes lIstions shall also be made 10 ap-
pear IN the biennial statement OF the
Section .. For the payment OF eou-
pons representing the Krst years Ia
ter.st sserusd on the bonds to be Is
Is hereby autheriIsd and directed t.
apply any moneys at that time In his
hands 6slongina 70 the general reve-
interest on bank deposits: and SO much
money as may be necessary therefor 10
Ter the payment of said Interest
Section 10. The governor and attor-
ney general are hereby authoriIsd 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 acquired for and
retained In the school fund, shah have
stamped across tho face OF raid bond.
Approved, April 23rd 1898
In testimony whereof, i have here
unto set my hand and affixed the rreat
seal of the State of Colorado, at the
city of Denver. this 1stk day of Sep
tsmber. A. D. 1910.
(SeaD JAMES B. PIARCE