Gilpin observer., 1910-10-13

and file the same with the secretary Of
state, in the usual form required of
state Officers, for the faithful dis
% aet Said s board a'iseS is hereby re1 autRorized M
and empowered to subpoena witnesses.
send for persons and papers. administer
sary; to the speedy and proper dis
chaf'se 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 full and complete
statement Of its findings and determin,,
alton with the auditor Of the state. and
| the decision of u majority of said board
with respect thereto shall be final.
Section g. After said board mas flse tse
governor, the treasurer and the secre-
| tary of state are hereby authorized to
rado in accordance with the Constitu-
tton so amended in a sum not exceed
ing two million, one hundred and III
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 for the years 1887. 1855. 1889:
| 1892, 1893 1894 and 1897. at par and
the interest int 81, accrued ; thereon; upon POI sur sur
| rants for cancellation. The holders or
| any said warrants may pay into the
| state treasury any difference less than
| 100000 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-
| tion at par and accrued interest in the
order OF their number at any time art
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:
i Aa 10 m "a m at office n
| the state treasurer in the City of Den
YER. Colorado. or in the City of New
consecutively, beginning at number
one. and shall be registered in the Of
flee of the auditor of state, and his
tested by the seal of his office affixed
to each bond. shall be evidence of their
legal issue.
this act shall be known as Funding
| Bonds, Series of 1870" 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.
| Said bonds shall be numbered and
registered in 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.
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 til
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.
Section 7. Whenever the bonds pro-
vided in this act are issued. 1t shall be
the duty of the state board of equaliza
tion to levy and assess special tax on
all taxable property in this state suffi-
"a yna not ayrat- nm
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 19l0:"
and for the ultimate redemption of said
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
equal to two and one-haif per cent.
t2k%) of the whole amount of the
bonds Issued: which fund shall be
Sinking Fund.
All taxes for interest upon and for
| levied and collected other state
taxes, and shall be paid into the state
treasury In cash only. The proceeds
urer as 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 for no other
purpose whatever: Provided. that
whenever any surplus remains to 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"
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
N Ia ~ tnl -
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 OF
the said bonds are purchased or re-
deemed under this act. II shall be the
duty OF the state treasurer to cancel
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
cancellations shall also be made to ap-
pear In the biennial statement of the
Section 3. 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, or the funds accrulng 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 10
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 b. PEARCE.