The St. Joseph observer. [volume] (St. Joseph, Mo.) 1906-1932, 1920-10-23

Providing for q bond issus OF $1,000
diers' settle ment 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 a liability In behalf
OF the state Of Missouri, in the sum OF
issue OF bonds for the purpose OF cre-
ating a soldiers settlement fund.
Be It 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
there shall be submitted to the qualified
voters OF the state OF Missouri for adop-
tlon, the following amendment to SEQ
ton. entitled general assembly not to
contract debts except as hercin"-provid
ing for the contracting and repayment In
OF one million dollars for the purpose OF
providing a revolving fund for the use OF
the soldier settlement board or depart
rn' ment' which: Ttth @ It's ,; acdnned earning, ear
der settlement contracts TO the general
revenue funds OF the state:
Section /. That section ~. article 4
Of the 9i,,tn C1nstitutiSn Of the STATE Of Mis-
contract debts except as herein"-
be amended by the addition OF the fol-
lowing provisions which shah be append
ed thereto. and shall be known sub
division fourth of section. a, article
Of the Constitution. Subdivision fourth.
section a; article ! Of the state Con.
is. In recognition Of 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 repatrtated. and who
have been honorably discharged, here
after referred to as soldiers" and to
with the agencies OF the United States
engaged in work of similar character.
To provide the necessary funds for 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 tiye hundred
dollars each, or OF both denominations (as
the state boar OF fund commissioners may
determine) and be payable thirteen years
from the issuance thereof: shall be pay
able to bearer IN lawful money Of the
a rate not 10 exceed four and one-half
per centum a year las the state board
OF IQnQ commissioners may uttcTHlneD,
payable semi annually on the first days
OF January and July Of each year. and to
that end suitable coupons shall be at
tached to 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 redeemabls 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
hal fa aRta NV foN ~ fnr
to which he shall certify on each bond.
and authenticate such registration by his
signst ture and his official seal attached:
outed, under the supervision OF the state
board OF fund commissioners. shall be
sold to the best advantage BY said board.
OF said sales or sale shall constitute a
fund TO be designated as the soldiers
settlement fund. and shall be used ex-
soldier settlement board or department
for such period Of time as 1t may desig-
nate. and FOR such projects as are ap-
upon the soldiers settlement fund shall
bear the governors approval. after which,
this fund with its accrued earnings, shall
Of the state. Contract or 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 non
payable.
Section 2. That the general assembly
shall. and does hereby levy an annual
tax OF ore cent on the one hundred dol
lars valuation Of the taxable property OF
the state for the payment Of the RccTuing
interest on the said bonds, aud. for the
creation of a sinking fund for she pay
ment thereof, said taNes beginning with
the year 1920. to be levied and collected
annually as In case OF other state taxes
In this state. until said bonds ere fully
paid.