Gilpin observer., 1910-10-27


state officers. for the faithful dis
charge Of the duties required by this
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 hell. 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 obiiga-
sta,emene s ena Of i's It's findings anS a determin
alton with the auditor OF the state. and
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
issue the bonds OF the State OF Colo
tion SO amended in sum not exceed
ing two million, one hundred and fif-
teen thousand dollars, H2.1i5.ooo.oo)
par and accrued Interest. for said war
rants of the State of Colorado. issued
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
Said bonds shall be dated December
1st. 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-annually at the office of
the state treasurer in the CITY Of Den
York. Said bonds shall be numbered
eonseeutivsly,, beginning at number nun
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
Section s. The bonds Issued under
this act shall be known as Funding
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-
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 1t Is issued.
this act. together with the section and
article of the constitution authorizing
the issuance Of said bonds. and the IL
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 or pay the out
standing warrants of the state herein
above mentioned.
v,ssS esti0n 10 III. Whenever the bond. pro-
the duty of the state board of equaliza-
tion to levy and assess a special tax on
all taxable property in this state suffi-
q no ni-n N
nual interest accruing on said bonds.
which tax when collected shall be paid
the interest fund Of said bonds. known
as Funding Bonds. Series of 191O:"
and for the ultimate redemption of said
bonds there shall be levied annually
the date of their Issuance. such a tax
upon all the taxable property In the
equal to two and one-half per cent.
(2h% 80 of the whole amount of the
bonds Issued. which fund shall be
Sinking Fund.-
All taxes for interest upon and for
the redemption OF said bonds shall be
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 for their purchase as
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
Series of 1910. sinking Fund"
All moneys belonging to said sinking
fund may be invested by the state
under this act. but not otherwise.
Section s. The treasurer shall include
In his biennial report a statement of
this act. the amount paid. and also the
amount. II any. carried to the sinking
fund. and how invested. When any OF
deemed under this act. It 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
office; and any such purchases and
cancellations shall also be made to ap-
ss;-s ;tess;:r s:nn'al statement of the
Section .. Fer the payment OF cou-
pons REPRESENTING the first years In
terSst accrued on the bonds to be is
is hereby authorized and directed to
apply any moneys at that time IN his
hands belonging to the gehefal feras
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 Not Transferable" plainly
stamped across the face of said bonds.
Approved. April 23rd. 1909.
In testimony whereof. I 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.
(SeaD JAMES b. PEARCE.
Of Ctota