The St. Joseph observer. [volume] (St. Joseph, Mo.) 1906-1932, 1920-10-16

Providing for a bond issue OF $1,000
10000 for the purpose Of crsatins a SOL
dIers' settle fund.
JOINT AND CONCURRENT REsOLU-
TION providing for the amendment OF
section ~. article of the Constitution
OF the state of Missouri, relating to
the contracting of liability In behalf
Of the state Of Missouri, in the sum OF
one million dollars (Sl,eoo, ,O0o). by an
Issue Of bonds for the purDose OF ere
ating soldiers settlement fund.
Be 1t resolved by the Senate. the House
OF Representatives concurring therein.
as follows:
The general election to be held in this
state on the first Tuesday following the
FIRST Monday In November. A. ID. 1920;
there shall be submitted to the qualified
voters of the state OF Missouri for adop-
tiOn, the following amendment to sec
ton a.. article OF tho state Constitu-
tion. entitled General assembly not to
contract de5ts except as herein"-provid-
ing for the contracting ana repayment In
the manner hereinafter provided OF debt
OF one million dollars, for the purpose 0f
providing a revolving fund for the use OF
the soldier settlement board or depart
nent. wht;h, with its accrued earning.
shall revert at the completion OF the SOL
dier settlement contracts to the general
revenue funds Of the state:
Section /. That section ~, article 4
of the Constitution OF the state Of Mis-
be amended by the sddition OF the fol-
lowing provisions which shall be append
ed thereto, and shall be known as sub
division fourth OF section a, article
OF the Constitution. Subdivision fourth.
section "a. article I OF the state Con-
In, in recognition q military service. to
provide employment and rural homes for
soldiers. sailors. marines. and others who
have served with the armed forces OF the
United States In the European war or
other wars Of the United States, includ-
ing former American citizens who served
In allied armies against the central pow
ers and have been repatriated, and who
have been honoraby discharged. here
after referred to as soldiers" and 10
accomplish such purpose by cooperation
with the agencies OF the United States
engaged in work Of a similar character.
To provide the necessary funds for the
state o. Missouri to cooperate with the
agencies of the United States the con-
tracing of the liability of the state Of
Missouri by the issuance Of Its bonds In
million dollars, is hereby authorized and
directed said bonds to be in the denomi-
nation of one thousand or nye hundred
dollars each. or Of both denominations (as
the state board Of fund commissioners may
determinel and be payable thirteen years
from the issuance thereof; shall be pay
able to bearer In lawful money Of the
a rate not 70 exceed four and one half
per centum year (as the state board
oil IunQ commissioners may QtIeEInine1,
payable semi annually on the first days
OF January and July OF each year. and TO
that end suitable coupons shall be at
tsched 70 each bond for the payment OF
said interest. each coupon shall have
a fac-simile 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 counter
signed by the secretary Of the state, with
the great seal OF the state attached; and
shall ha YaariateTAd Inv "A AT aridifnr
to which he shall certify on each bond.
and authenticate such registration by his
signature and his official seal attached:
said bonds. when go prepared and exc
outed, under the supervision of the state
board OF fund commissioners shall be
sold to the best advantage by said board.
but for not less than par. The proceeds
Of said sales or sale shall constitute
fund TO be designated as the soldiers
settlement fund, and shah be used ex-
clusively as a revolving fund by the
soldier settlement board or department
| for such a period Of time as It may desig-
ana b1 ,Sr sSSs projects are op
| upon the soldiers settlement fund shall
bear the governors approval, after which,
| oe returned to the general revenue fund
Of the state. Contract OF contNacts for
expenditures or loans TO carry out the
| purpose Of this act IN excess OF said one
| million dollars, with Interest collected
| thereon. shall. TO the amount OF said ex-
cess. be Illegal and void and forever nom
| payable.
| Section z. That the general assembly
shall. and does hereby levy an annual
| tax OF one cent on the one hundred dol
| lars valuation OF the taxable property OF
| the state for the payment Of the Hccruing
| interest on the said bonds. aud FOR the
| creation Of a sinking fund for the pay-
| ment thereof, said taxes. beginning with
| the year 1920. TO be levied and collected
| annually as In case Of other state taxes
| in this state. until said bonds 're fully
paid