Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1920-10-14
Be it resolved by the Senate, the House
of Representatives eoncurring therein,
as follows:

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'-proyid-
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 its accrued earning,
shall revert at the completion of the sol,
der settlement contracts to the general
revenue funds Of the state:
Section 1. That section A, article A
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
ed thereto, and shall be known as sub
division fourth of section a, article 4
of the Constitution. Subdivision fourth,
section "A, article 4 of the state Con-
stitution-The object of this amendment
Is, in recognition Of military service, to
provide employment n rural homes for
soldiers, sailors. marines, and others who
nave 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
deternline) 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 to exceed four and one-hali
per centum a year las the state board
Of fund commissioners may determine).
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 redeemable at the option OF the
state after eight years from date; shall
be signed by the governor, 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 DOnQ,
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
fund 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 ap'
\ proved by the governor, and requisitions
upon the soldiers settlement fur shall
bear the governor approval. after which
this fund with its accrued earnings, shall
be returned to the general revenue funt
of the state. Contract or contracts fol
expenditures or loans to carry out thu
purpose of this act in excess of said on
million dollars, with interest collected
thereon. shall, to the amount of said ex'
cess, be illegal and void and forever non
payable.
Section Q. That the general assembl,
shall, and does hereby levy an
tax OF one cent on the one hundred dol
lars valuation Of the taxable property 0
the state for the payment OF the accruinl
interest on the said bonds, and for tn
creation of a sinking fund for the pay
ment thereof, said taxes. beginning witt
the year 1920, to be levied and collected
annually as In case of other state take
In this state. until said bonds are full.
paid.