Gilpin observer., 1910-11-03

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Sake and subscribe, an oath Of office
state officers. for. the faithful dis
ses Said ID tms Soard i. hefeSy
and empowered to subpoena Witnesses
send for persona and papers. administer
sarS to and the neev osns ana
charge Of its duties. The treasurer
and auditor shall furnish the necessary
sad boe4a neI s sne anS
mine the amount. which should fairly
and equitably be. paid upon each OF
saa and asd is an sbs
sssismsns sna q ''s Il. hnalnss and nd dessrmin;
the decision OF a majority OF said board
with respect thereto shall be final.
Section 5. After said board has filed
Governor. me" me treesurer and the secre.
tary OF state are hereby authorized to
Issue the bonds Of the State OF Colo
tion so amended in sum not exceed
ing two million. one hundred and II,
teen thousand dollars ts2.li6.ooo.ooo
many thereof as may be necessary. at
par and accrued interest. for said war.
rants of the State of Colorado. issued
1892, 1888. 1894 and 1897. at par and
the Interest accrued thereon. upon sur
render of an equal amount Of said war.
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
1st. 1910. shall be due and payable In
fifty years. with the option of redemp-
order Of their number at anytime 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 rae of three per cent. per annum:
payable scmi-annually at the office OF
the 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
certificate of such registration. at
tested by the seal OF his office affixed
to each bond. shall be evidence OF their
Section s. The bonds issued under
this act shall be known as Funding
Bonds, Series of 1910.' and shall be
by the state treasurer. and attested by
the secretary of state. who shall affix
the great seal of the state to each bond:
registered in book kept for that pur-
pose by the state auditor and state
treasurer: in the order in which they
to the bearer, and shall state upon Its
face the amount for which 1t 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 I'll
tie and text OF this act shall be printed
bonds. Only such amount and number
of said bonds. shall be issued as may
be necessary to take up or pay the out
above mentioned.
Section I. Whenever the bonds pro-
vided In this act are issued. It shall be
fhn dt,ty nf hn ataf fa hna I'd d.nf tz1
tion to levy and assess 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
and for the ultimate redemption of said
bonds there shall be levied annually
fSe Se ds, ssr se aeb
upon all the taxable property in the
state as shall create an annual fund
esS.l to two ,S and so,n one.naIf per cent
bonds issued. which fund shall be
sailed sailed "Fund,ns ESa Bonds. Series of 1910.
All taxes for interest upon and for
the redemption of said bonds shall be
levied and collected as other state
snd in Cash on Phe
thereof shall be kept by the state treas
urer as a distinct fund under the prop
the interest on and for the redemption
of said bonds. or for their purchase as
hereinafter hrenn provided. and ~ t., no other
Whenever any surplus remains to the
credit of said interest fund. after the
full payment of the interest maturing
cause such surplus to be transferred
to the credit of the Funding Bonds.
Series of 1910. Sinking Fund.-
All moneys belonging to said sinking g
Invested a a
treasurer in any of the bonds issued
under this act, but not otherwise.
Section g. 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
fund. and how invested. When any Of
the said bonds are purchased or re-
deemed under this act. II shall be the
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
office; and any such purchases and
pear in the biennial statement OF the
state treasurer.
Section .. 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
hands belonging to the general reve-
nue. fund, o. 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 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 so acquired for and
retained in the school fund, shall have
the words mot Transferable" plainly
stamped across the face of said bonds.
Approved, April 23rd. 1909.
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. d. 1910.
(SeaD JAMES B. PEARCE.
Secretary of State,
CONSTITUTIONAL AMENDMENT.