The Paonia newspaper., 1910-10-07

c-TafI InueF LeuneSS, LII WI No.
against the amendment to Section
of Article XI of the Constitution. Fund
ing the state indebtedness, and shaii
;ndicate his approval or diSapproval by
p-acing a cross (X) opposite one or the
other of said groups of words on his
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
tanning that said amendment to the
Constitution has been adopted by the
people of the state the governor. state
erai and secretary of state shall meet
together at the office of the state treas
d BOARD. % by eiecting one of its members
president and another secretary of said
board. Each member OF said board and
take and subscribe an oath of office
state, in the usual form required OF
state officers. for the faithful dis
charge q the duties required t6rils by thas
and empowered to subpoena witnesses.
send for persons and papers. administer
oaths. and perform other acts neces-
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 eaeh OF
said warrants. and is an honest obliga-
tion of the state. and shall thereupon
make and file a full and comPlete
alton with 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 fileu
its report with the auditor Of state. the
governor, the treasurer and the secre-
issue the bonds of the State of Colo
RADIO in accordance with the Constltu-
tion so amended in sum not exeeea-
teen thousand dollars (s2.ll5.oO0.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, 1883, 1883,
1892. 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 difference less than
10000 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 In the
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
the state treasurer in the city OF Den
York. Said bonds shall be numbered
consecutively. beginning at number
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 s. The bonds issued under
this act shall be known as Funding
Bonds. Series of 1870" and shall be
signed by the governor. countersigned
by the state treasurer. anc attested by
the secretary of state. who shall affiN
the great seal OF the state to each bond.
Said bonds shall be numbered aud
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 it's
face the amount for which IL In Issued.
the date of its issuance. and the title OF
this act. together with the section and
the issuance of said bonds. and the IT,
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
he necessary to take up OF pay the out
standing warrants of the state herein
Section I. Whenever the bonds pro-
vided In this act are issued. IL shall be
tion to levy and assess a special tax on
all taxable property In this state suffI-
cient in amount to meet the semi an
nual Interest accruing 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 1870"
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 q tax
upon all the taxable property In the
state as shall create an annual fund
t2hF) of the whole amount of the
bonds issued. which fund shall be
called sa 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
urer a distinct fund under the prop
the interest ON and for the redemption
OF said bonds. or for their purchase
hereinafter provided, and for no other
purpose whatever. Provided. that
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"
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
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. II shall be the
the same. that they can be plainly
Identified and cause the record of such