Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1911-04-27

PROPOSAL OF AN ACT OF THE 46TH
GENERAL ASSEMBLY OF MISSOURI
FOR THE RATIFICATION THERE
OF BY THE VOTERS OF SAID STATE
AT AN ELECTION TO BE HELD FOR
THAT PURPOSE ON TUESDAY, AU-
GUST l. 1911.
Said act of the general assembly being
In words and figures as follows, to-wit:
AN ACT
Authorizing and directing the contracting
Of the liability of the state of Missouri
by the issuance of its state bonds in a
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 equip
ment of a new state capitol at the pres
ent seat of government of the state, and
for The purchase of additional state
capitol premises, and also providing for
the payment of said bonds and interest
acoruing thereon.
Be it enacted by the General Assembly
Of the State of Missouri, as follows:
Section l. That the contracting of the
liability of the state of Missouri by the
issuance of its bonds in an aggregate sum,
not to exceed three and one-half millions
of dollars (rendered necessary by the I'M
foreseen emergency of the destruction of
the state capitol b. 7re), is hereby au-
thorized and direct said bonds to be in
the denomination Of one thousand or five
hundred dollars each, or of both said de-
(aS the state board of fund
commissioners may determine) and be
payable thirteen years from the ~ssuan
thereof; shall be payable to bearer in
EWful money of the United States, n
shall bear interest at a rate not to ex-
coed three n one-half per centum a
year Gas the state board of fund commits
sloners may determine), payable semi
annually on the first days of January and
July of each year. and to that end suit
able coupons shall be attached to each
bond for the payment of said interest;
each coupon h have a facsimile of the
signature of the state treasurer engraved
thereon. Said bonds shall be r~edeemable
at the option of the state after eight
years from date, shall be signed by the
governor, n 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 super
vision Of the state board of fund commits
sioners, shall be sold to the best advan-
tage by said board, but for not less han
par. The proceeds Of said sale or sales
shall constitute a fund to be designated
as the capitol building fund, and shall be
applied exclusively to the building of a
ne I 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
additional capitol premises adjoining those
now owned by the state; Provided, that
three hundred thousand dollars of said
FUND, or so much thereof as may be nee
essary, shall be applied to the furnishing
and other equipment of said capitol, and
two hundred thousand dollars of said
fund, or so much thereof as may be nee
essary, shall be applied to the purchase
of land (adjoining the present state can
itol premises for additional state can
itol premises: Provided, also, that said
building shall be constructed with native
Missouri granite and stone. Contract or
contracts for expenditures to carry out
the purposes of this act in excess of said
three and one-half millions of dollars,
with interest collected thereon, shall. to
the amount Of said excess, be illegal and
void and forever n~on-payable.
Sec. 3. That the general assembly shall
and does hereby levy an annual tax of
two cents on the one hundred dollars val
uation Of the taxable property in this
state for the payment of the accruing in
terest on said bonds and for the creation
of a sinking fund for the payment there
of, said taxes, beginning with the wear
1912. to be levied and collected ANNUALLY
as in case of other state taxes in this
state, until said bonds are fully paid.
Sec. 3. That this act shall go into eff
feet and be in force from and after it's
ratification by the voters Of this state ar
an election, to be held for the purnose
authorized by the general assembly. as
contemplated and required by clause 4 n
section "A, article w Of the Constitution
Of this state.
Approved March is, 1911.