The Elbert County tribune., 1910-10-07

take and subscribe an oath of office
state In tbs same NTH sot tne Of
state officers. for the faithful dis
charge OF the duties required by this
and empowered to subpoena witnesses.
send Tor 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 each of
tion OF the state. and shall thereupon
make and file n full and complete
statement OF its findings and determin.
alton Win the auditor OF the state. and
the decision OF a majority OF said board
with respect thereto shall be final.
Section 5. After said board has filed
Its report with the auditor of state, the
governor. the treasurer and the secre-
tary OF state are hereby authorized to
RADIO In accordance with the Constitu-
tion so amended in sum not exceed
teen thousand dollars (S2.l15,000.0o)
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 Tor the years 1887. 1883, 1883,
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 shlu 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 nuNber 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
the state treasurer in the city of Den
yer. Colorado. or in the City of New
York. Said bonds shall be numbered
one. and shah 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 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
Said bonds shall be numbered and
registered In a 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 It's
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
tie and text OF this act shall be printed
on the reverse side OF each of said
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 7. Whenever the bonds pro-
vided in this act are issued, It shall be
the duty of the state board of equaliza-
tion to levy and assess Il 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 credft Of
the interest fund Of said bonds, known
as Funding Bonds. Series OF 19tO;"
and for the ultimate redemption OF said
bonds there shall be levied annually
for forty years, after ten years from
upon all the taxable property in the
state as shall create an annual fund
equal to two and one-half per cent.
t2h%) OF the whole amount of the
bonds issued, which fund shall be
called Funding Bonds. Series of 1910.
Sinking Fund"
All taxes for interest upon and for
the redemption of said bonds shall be
levied and collected as other state
treasury in cash only. The proceeds
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
purpose ba9s,aeo' Papsvar ana & lor 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 be transferred
to the credit OF the Funding Bonds,
Series of 1910, Sinking Fund"
All moneys belonging to said sinking
iund 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. IL any, carried to the sinking
fund and how invested. When any of
the said bonds are purchased or re-
deemed under this act, IT shall be the
duty of the state treasurer To cancel
the same, so that they can be plainly
identified, and cause she record of such
cancellation to be made in the registry
books of both the state treasurer and
IN sne state auuitor. and they shall also
pc kept on flle In the state treasurer's 3
OFFICE. and any such purchases and
cancellations shall also be made to ap-
pear In the biennial statement of the
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
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 he 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 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. ID. 1910
tSeaD JAMES Il. PEARCE,
Secretary OF State
CONSTITUTIONAL AMENDMENT.