Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1920-10-07

The general election to be held in this
state on the first Tuesday following the
first Monday in November, A. D.. 1920,
there shall be submitted to the qualified
voters Of the state of Missouri for adop-
ton, the following amendment to Sec
ton A, article 4 Of the state Constitu-
ton, entitled General assembly not to
contract debts except as herein"-provid-
ing for the contracting and repayment in
the manner hereinafter provided of a debt
of one million dollars, for the purpose of
providing a revolving fund for the use of
the soldier settlement board or depart
ment, which, with it's accrued earning,
shall revert at the completion of the SOL
der settlement contracts to the general
revenue funds Of the state:
Section l. That section A, article 4
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 be append
division fourth of section A, article 4
of the Constitution. Subdivision fourth,
section "A, article 4 of the state on
stitution-The object of this amendment
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 wal 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 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
agencies 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
- a IN1la~r f- l1rOh. --1
directed, said ponds to be In the denomi-
nation of thousand or five hundred
dollars each, or of both denominations (as
hes state board 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
United States. n shall bear interest at
a rate not to exceed four and one-half
per centum a year las the state board
of fund commissioners may deterE.ine),
payable semi-annually on the first days
Of January n July of each year, and to
that end suitable p shall be at
tached to each bond for the payment of
said interest; each coupe 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 winch ne Snal CerLlIy IN eacn BOND,
and authenticate such registration by his
signature and his official seal attached:
said bonds. when SO prepared and exc
cuted, 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.,
und to be designated as the soldiers
settlement fund, and shall 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-
nate, and for such projects as are APP
proved by the governor, and acquisitions
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 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 one cent on the one hundred dol
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 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 are fully
paid