Gilpin observer., 1910-10-06

anu anu ne the same Win the secretary OF
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
ana empowered to subpoena witnesses
| send persons and papers. administer
| oaths, and perform other acts neces-
Charge to th It's dSts and The ns
and auditor shall furnish the necessary
clerical help, required by the board.
| mine the amount which should fairly
and equitably be paid upon each of
said warrants. and is an honest obliga-
statement OF it's findings and determin-
alton with the auditor OF the state. and
the decision of a majority of said board
with respect thereto shall be final.
Section 8. After said board has filed
It's report with the auditor of state. the
governor, the treasurer and the secre-
lary of state are hereby authorized to
issue the bonds of the State of Colo
RADIO in. accordance with the Constitu-
tlon so amended In a sum not exceed
ing two Million one hundred and fif-
teen thousand dollars ($2.115. 5.000.OO)
and to exchange said bonds. or so
par and accrued interest. for said war
rants of the State of Colorado, issued
In and for the years 1887, 1883, 1889,
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
$4,000 each, necessary to pay for the
bonds so delivered to them respectively.
Said bonds shall be dated December
| lst. 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-annual lly at the office of
yer, Colorado. or in the City OF New
| York. Said bonds shall be numbered
consecutiyely; beginning at number
flee of the auditor of state. and his
certificate of such registration. at
tested by the seal of his office affixed
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 by
the secretary of state who shall affix
the great seal of the state to each bond.
Said bonds shall be numbered and
registered in book kept for that pur-
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 1t is issued.
the date of it's issuance, and the title of
this act together with the section and
article Of the constitution authorizing
/
| 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 pay the out
standing warrants of the state herein
above mentioned.
| vided in this act are issued, 1t shall be
! the duty of the state board of equaliza-
| 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 1910:,''
| 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 annual fund
equal to two and one-half per cent.
| t2hsyD of the whole amount of the
Sinking Fund"
the. redemption of said bonds shall be
| levied and collected as other state
taxes, and shall be paid into the state
thereof shall be kept by the state treas
urer as a 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 as
hereinafter provided. and sDr no other
p9brpose wbInsyer whatsysr Sny Pr9Sided that
credit of said interest fund. after the
| full payment of the interest maturing
| in any year, the state treasurer shall
| 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 ). The treasurer shall include
| in his biennial report a statement OF
the interest collected in pursuance OF
this act. the amount paid. and also the
amount, If any, carried to the sinking
| fund. and how invested. When any OF
| the said bonds are purchased or re-
deemed under this act, IL 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
cancellations shall also be made to APP
pear in the biennial statement of the
state treasurer.
! 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
/ apply any moneys at that time in his
/ hands belonging to the general reve-
| nue. fund, or the funds accruing from
/ 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 tG
| 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 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. 1903
In testimony whereof. | have here
unto set my hand and affixed the great
! seal of the state of Colorado, at the
| City of Denver. this 29th day OF Sep
tember. A. II. 1910.
tsean JAMES b. PEARCE.