The daily sentinel., 1910-10-15

state officers for the faithful dis
snt ssid bnard ~ bsrsbv antbortzed
and empowered to subpoena witnesses
send for persons and papers, administer
oaths' ana perform other aets neGss as
sary to the speedy and proper as
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 obltga-
tion of the state. and shall thereupon
make and file fun and complete
statement Of lts findings and determin,
alton with the auditor Of the state, ana
the decision Of a majority OF said board
with respect thereto shall be final.
Section 5. After said board has filed
governor. the treasurer and the secre-
tary Of state are hereby SuthoFtzed 10
Issue the bonds Of the. State of Colo
rado In accordance with the Constitu-
tiOn so amended In a sum not exceed
ing two million, one hundred and fif-
teen thousand dollars G2.li5,ooo.oOl
and to exchange said bonds, or so
many thereof as may be necessary, at
par and accrued interest. for said war
in and for the years 1887. 1855, 1859.
1892. 1893, 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
slVVsVV Ehtns necessary 10 pay lot 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
order Of their number at any time att
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-annuslly at the office OF
the state treasurer In the City OF Den
Colorado. in the CIV 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 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 nv
the secretary OF state, who shall afflN
the great seal Of the state to each bond.
said bonds shall be numbered and
registered In a 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 IT 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 II.
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 bond. pro-
vlded In this act are issued, ii shall be
the duty OF the state board OF equaliza-
tlon to levy and assess special tax on
all taxable property In this state suffi-
cient In amount to meet the semi-an-
nual interest accruins on said bonds.
which tax when collected shall be paid
into tho state treasury to the credit of
the interest fund Of said bonds, known
az Funding Bonds Series OF 1870"
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 all the taxable property IN the
state as shall create an annual fund
equal to two aud ouDe-halt per cent
t2h%) of the whole amount of the
bonds issued. which fund shall be
Salied FUNDING Bonds. Series OF 1910.
All taxes for interest upon and for
the redemption OF said bonds shall be
taxes, and shall be paid into the state
treasury in cash only. The proceeds
thereof shall be kept by the state treas
er heads. to be issued in payment of
the Interest on and for the redemption
Of said bonds. or Tor their purchase as
hereinafter provided. and for no other
purpose whatever. Provided, that
whenever any surplus remains to the
credit OF said Interest fund. after the
nun payment Of the interest maturing
in any year, the state treasurer shall
cause SUI b surplus to be transferred
to me 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 this act. but not otherwise.
Section s. The treasurer shall Include
IN ms 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 or
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 state auditor, and they shall also
be kept on file In the state treasurer's
cancellations shall also be made to ap-
pear In the biennial statement of the
state treasurer
Section O. 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 oelonginE to the general reve-
interest on bank deposits: and so much
money as may be necessary therefor is
hereby appropriated out of such funds
Tor the payment OF said interest
Section 10. The governor and sttor-
ney general are hereby authorized to
prescrib" tis 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 Transferable" plainly
stamped across the face of said bonds
Approved. April 23rd, 1909
In testimony whereof. l 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
tember. A. d. 1910.
tSeaD JAMES B. PEARcE,
Secretary OF State