The Butler weekly times. (Butler, Mo.) 1881-1918, 1911-07-13

PROPOSAL OF AN ACT OF THE 46TH GEN.
ERAL ASSEMBLY OF MISSOURI FOR
THE RATIFICATION THEREOF BY THE
VOTERS OF SAID STATE AT AN ELEC.
TON TO BE HELD FOR THAT PURPOSE
TUESDAY. AUGUST, /, 1911
Said act of the general as emily being In
words and figures as follows 10. wit:
AN ACT
Authorizing and directing the contracting of
the liability Of the state of Missouri by the
issuance OF its state bonds in sum, not to
exceed three and one. half millions of dollars,
and for the sale of said bonds, to provide
means for the building, furnishing and other
equipment of q new state capitol at the pres
ent seat of government of the state, and for
the purchase of additional state capitol prem
Uses, and also providing for the payment Of
said bonds and interest accrulng thereon.
Be it enacted by the General Assembly of the
State of Missouri, as follows:
Section l. That the contracting of the liabil.
ity OF the state of Missouri by the issuance Of
its bonds IN an aggregate sum not to exceed
three and one-hslf millions of dollars (rendered
necessary by the unforeseen emergency of the
destruction OF the state capitol by fre), lie here
by authorized and directed, said bonds to be In
the denomination Of one thousand or five hum
dred dollars each, or of both said denomins
tions (as the state board Of fund commissioners
may determine) and be pa able thirteen years
from the issuance thereof; shall be payable to
bearer in lawful money Of the United States,
and shall bear interest at Q rate not TO exceed
three and one-half per centum q year las the
state board of fund commissioners may deter
mine), payable semi annually on the first days
of January and July of each year, and to that
end suitable coupons shall be attached to each
bond for the payment Of said interest; each cou.
pom shall have o facsimile of the signature Of
the state treasurer engraved thereon. Said
bonds shall be redeemable at the option of the
state after eight years from date, shall be
signed by the governor, and be countersigned
by the secretary of state, with the great seal of
the state attached, and shall be registered by
the state auditor to which he shall certify on
each bond. and authenticate such registration
by his signature and his official seal attached;
said bonds, when SO prepared and executed,
under the supervision Of the state board Of
fund commissioners, shall be sold to the best
advantage by said board, but for not leas than
par. The proceeds of said sale or sales shall
c institute u fund to be designated as the capt.
toll building fund, and shall be applied exclus
lively 10 the building of q new state capitol at
the present seat OF government Of the state,
including the furnishing and other equipment
OF said building and the purchase by the state
of addi ional capitol premises adjoining those
now owned by the state Provided, that three
hun lred Thousand dollars Of said fund, or 80
nuch thereof as may be necessary shall be
applied to the furnishing and other equipment
of said capitol, and two hundred thousand dol.
lars OF said fund, or 90 n UGH thereof ss may be
necessary, shall be applied 10 the purchase of
land tadjoining the present state cap tai premi
ses) for additional state capitol premises
Provid d, also, that eaid building shall be con-
structed with native Missouri granite and
stone Contract or contracts tor expenditures
to carry out the purposes Of this actin exec Of
said three and one-half millions of dollars with
interest collected thereon shall, 10 the amount
of said excess, be illegal and void and forever
non payable.
Sec. That the general assembly shall and
does hereby levy an animal tax Of two cents on
the one hundred dollars valuation of the tax.
able property in this STATE for the payment OF
the accruing interest on said bonds and for the
creation OF a sinking fund for the payment
thereof, said taxes, beginning with the year
1912, to be levied and collected annually as in
case of other state taxes in this state until said
bonds are fully paid.
Sec 8. That this act shall go into effect and
be in force from and after it's ratification by the
voters of this state At an election, to be held
for the purpose, authorized by the general as
sembly, ss contemplated and required by
clause of section A. article " of the Constitu-
tion OF this etate.
Approved March IL, 1911