Mexico weekly ledger., 1920-09-30

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 contracting OF a liability in behalf
Of the state of Missouri, in the sum Of
one million dollars ($1,O00 000), by an
issue Of bonds for the purpose of Gre
attng 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-
tion, the following amendment to sec
tion A. article of the state .Constitu-
tion, entitled General assembly not to
contract debts except as herein"-provid-
| ing for the contracting and repayment In
| the manner hereinafter provided Of 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,
dier settlement contracts to the general
revenue funds of the state:
Section /. 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 De append
ed thereto. and shall be known as SUBJ
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 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 of 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 five hundred
dollars each, or of both denominations las
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
a rate not to exceed four and half
per C6nluHl year thS ttc BtdlO
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
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
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
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 1t may desig-
nate, and for such projects as are APP
| proved by the governor, and requtsitions
| upon the soldiers settlement fund shall
| bear the governors approval, after which,
| this fund with it's 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 nom
| 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 sinking fund for the pay
| ment thereof, said taxes, beginning with
the year 1920, to be levied and collected
VniI ao u. r0u fNf ~ ofn fnf
In this state. until said bonds are Nnlly
| paid.