Iron County register., 1920-10-28

dlers' 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 liability in behalf
of the state of Missouri, in the sum OF
one million dollars ($1, 900 OOO), by an
issue of bonds for the purpose Of Gre
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. d. dS2O,
there shall be submitted to the qualified
voters OF the state of Missouri for adop-
tion, the following amendment to sec
ton "A, article of the state Constitu-
tion, entitled General assembly not to
contract debts except as herein"
ing for the contracting and repayment IN
the manner hereinafter provided of 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,
dier settlement contracts to the general
revenue funds of the state:
Section l. That section A, 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 tol-
lowing provisions which shall be append
ed thereto and shall be known as sub
division fourth of section Al, article 4
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 VINO
have served with the armed forces OF the
In H'IIFnnpan
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 proyide 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 It's bonds IN
| million dollars, Is hereby authorized and
| directed said bonds to be in the denomi-
nation Of one thousand or I'VE hundred
! dollars each, or Of both denominations (as
| the state board of fund commissioners may
| deterrine) and be payable thirteen years
| from the issuance thereof; shall De pay
| able to bearer In lawful money OF the
/ United States, and shall bear interest at
rate not to exceed four and one-h half
| per centum a year (as the state board
| of fund commissioners may determine),
payable semi-annually. on the hrst Gays
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 tae 5s sta5e
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, snail pe
sold to the best advantage by said board
but for not less than par. The proceeds
of said sales or sale shall constitute Q
fund to be designated as the soldiers
settlement fund, and shall be used ex'
clusively as 2 reyolving iuno ny n.t ant
for such a period OF time as 1t may desig'
nate, and for such projects as are ap'
proved by the governor, ana requlsitloni
upon the soldiers settlement FUND shal
this fund with its accrued earnings, shal
be returned to the general revenue funt
of the state. Contract or contracts 10
expenditures or loans to carry out tn
/ 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
Section 2. That the general assembl
shall and does hereby levy an annua
, | tax OF one cent on the one hundred dol
. | lars valuation of the taxable property 0
| | the state for the payment Of the accruin
interest on the said bonds, and for tn
J creation Of sinking fund for the pay
. unent thereof, said taxes, beginning wit
/ the year 1920, to be levied and collecte
! | annually as In case of other state take
] In this state, until said bonds are full
: | paid.