The St. Joseph observer. [volume] (St. Joseph, Mo.) 1906-1932, 1920-10-02

'
10000 for the purpose OF creating a sol-
diers' settlement fund.
JOINT AND CONCURRENT REsoLU-
TION providing for the amendment of
section a. article OF the Constitution
Of the state OF Missouri, relating to
the ontractng Of a liability, in behalf
OF the state Of Missouri in the sum Of
one million dollars (sl 600 .coo), by an
Issue Of bonds for the purnose 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
first Monday In November, A. ID. 1920,
there shall be submitted to the qualified
voters Of the state Of Missouri for adop-
ton ~, article 4 Of the state Constitu-
tion, entitled General assembly not to
contract debts except as herein"-provid
the manner hereinafter provided OF a debt
OF one million dollars. for the purpose OF
providing a revolving fund for the use OF
ment which, with its accrued earning,
shall revert at the completion Of the SOL
der settlement contracts to the general
revenue funds Of the state:
Section /. That section ~, article
Of the Constitution of the state Of Mis-
souri,. entitled General assembly not to
contract debts except as herein
be amended by the addition OF the fol-
lowing provisions which shall Oe append
ed thereto. and shall be known as sub
division fourth OF section a, article
Of the Constitution. Subdivision fourth.
section a.. article Of the state Con,
stitution-The object Of this amendment
Is, in recognition Of military service, to
provide provide employment , and rural | homes homes & tor
have served with the armed forces Of the
United States In the European war or
ing former American citizens who served
in allied armies against the central pow
ers and have been repatriated. and who
have been honorably discharged. here
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 a. Missouri to cooperate with the
agencie- of the United States. the con-
tracing OF the liability Of the state Of
Missouri by the issuance OF its bonds In
an aggregate sum, not to exceed one
million dollars. Is hereby authorized and
directed said bonds to be Ia the denomi-
nation of one thousand or FIVE hundred
dollars ga ch, or OF both denomina tions (as
The state board OF fund commissioners may
determinel and be payable thirteen years
able to bearer In lawful money Of the
United States. and shall bear interest at
rate not 70 exceed four and one half
per centum year (as the state board
Of fund commissioners may determine).
payable seni-annually on the first days
u 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 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 counter
signed by the secretary Of the 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
said bonds, when so 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 a
fund to be designated as the soldiers
settlement fund, and shall be used eX-
cluSively as revolving fund by the
soldier settlement board or department
for such a period Of time as It may desig-
proved by the governor. and requisltions
upon the soldiers settlement fund shall
bear the governors approval. after which,
this fund with its accrued earnings, shall
be returned TO the general revenue fund
Of the state. Contract or contracts for
expenditures or loans 10 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 doll
lars valuation OF the taxable property Of
the state for the payment Of the accruing
interest on the said bonds, and for the
creation Of sinking fund for the pay
ment thereof said tsIcs beginning with
the year 1920, to be levied and collected
annually as in case Of other state taxes
in this state. until said bonds are fully
paid