The St. Joseph observer., 1920-10-30

Providing for q bond issue OF $1,000
o00.co for the purpose OF creating q SOL
diers' settlement 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 .oo0. .00o). by an
issue OF bonds for the purpose OF cre-
ating a soldiers settlement fund.
Be it resolved by the Senate, tho 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
tion. the following amendment to SEQ
ton ~, 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 revolving fund for the use Of
the soldier settlement board or Depart
ment. which. with its accrued earning.
shall revert at the completion OF the sol.
der settlement contracts to the general
revenue funds Of the statei
Section l. That section ~, article I
OF the Constitution of the state OF Mis-
souri,. entitled General assembly not to
contract debts except as herein"-
lowing provisions which shall Se append
ed thereto. and shall be known as sub
division fourth OF section a, article 4
Of the Constitution. Subdivision fourth.
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 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 honorably discharged. here
after referred to as soldiers" and to
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 % 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
an aggregate sum. not to exceed one
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
determine) and be payable thirteen years
from the Issuance thereof: shall be pay
able to bearer In lawful money OF the
United states, and shall bear interest at
a rate not 70 exceed four and half
per centum a year (as the state board
OF fund commissioners may determined.
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 facsimile OF the signature OF the state
treasurer engraved thereon. Said bonds
shall be redeemable at the option OF the
be signed by the governor, and counter
signed by the, secrstary 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
signature and his official seal attached:
cuted. 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 eonstitute a
fund 10 be designated as the soldiers
settlement fund. and shall bs used ex-
soldier settlement board or department
for such a period Of time as 1t may desig-
nate, and FOR such projects as are ap-
upon the soldiers settlement f,ind shall
bear the governors approval. after which,
this fund with its accrued earnings, shall
Dc returned TO the general revenue fund
OF the state. Contract OF CONTACTS for
expenditures OF loans to carry out the
parpose OF this act IN excess OF said one
million dollars, with interest collected
thereon. shan, to the amount Of said eK-
cess. be Illegal and void and forever non
payable
Section Z. That the general assembly
shall. and does hereby levy an annual
tax OF one cent on the one hundred doll
lars valuation OF the taxable property Of
the state for the payment OF the according
interest on the said bonds. and. for the
creation Of a sinking fund for she 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