Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1922-07-19
SOLDIERS BONUS LAW

AN ACT authorizing the state of
Iowa to become indebted in the
amount of twenty-five million dol
lars, and providing for the issue
and sale of bonds of said state
in evidence thereof, to procure
funds for and pay a bonus to per-
sons who served in the military
or naval service Of the United
States at any time between the
sixth day Of April, nineteen hun
bred seventeen, and the eleventh
day of November, nineteen hun
dred eighteen, or their successors
in interest, providing for a board
to administer such payments, pro-
viding for an additional bonus for
persons under disability, providing
for the imposition, levy and collec-
ton of direct annual tax sufficient
to pay the principal and interest
on said bonds, providing penalties
for the violation of the provisions
of this act, providing for applica-
ton of any surplus to the retire
ment of the indebtedness herein
created, and providing for sub,
mission of this act to the people to
be voted upon at the general cleo
ton to be held in the year nine,
teen hundred twenty-five.
Be il enacted by the General Assem-
bly, of the State of Iowa:
Section l. The state of Iowa i!
hereby authorized to become indebt
ed in the amount of twenty-five mil
lion dollars, (S22,000,00O.00) and il
evidence thereof there shall be issueC
and sold negotiable coupon bonds O
said state, as hereinafter provided
and the proceeds thereof shall ,,
paid into the treasury of the sta.
to be expended for the payment U
a bonus to the persons defined il
section four (4) of this act or TO
the benefit of such persons, as pre-
scribed by section eight (S) of thi
act, and for expenses incurred j
carrying out the provisions of thi
act.
Section 2. The treasurer of III
state is hereby directed to cause t
be prepared negotiable coupon bond
of this state in the amount O
{ twenty-five million dollars, 1922 .0G0
OOOOO) such bonds to bear interes
at the rate of not to exceed fly
per cent per annum, which interes
shall be paid semiannually. Sue
bonds shall be issued so that sal
Indebtedness shall be payable !
twenty equal annual inStallments. tn
last of which shall be within twent
years from date of issue. Sal
bonds shall be signed by the govel
nor, under the great seal of sal
state, attested by the secretary {
state and cOunterSigned by Ii
treasurer of state, and the full faitl
credit and resources of the state {
Iowa shall be pledged for the pa;
ment thereof. The interest coupon
attached TO said bonds shall bear tn
autographed facsimile signatures
said officials. The treasurer of stat
shall sell said bonds TO obtain funC
to carry out the provisions of III
act, and TO make the payments her,
| matter provided. Such bonds sha
be sold at not less than the .;
value thereof and accrued intere
thereon 20 the highest and mo
responsible bidder after advertiser
for period of twenty consecuti-
, days, Sundays excepted, in at lea
two daily newspapers printed in d
city Of Des Moines. Advertisement
of sale shall recite that the TIRE
surer of state, in his discretion. mi
= reject any or all bids received an
in such event, he shall readverti
= for bids in the form and mann
. above described as many times
IN his judgment may be necessa
I to effect satisfactory sale.
4 Section 3. The proceeds of su
bonds so paid into the treasury
= state shall constitute a bonus fu
2 and shall be distributed to the Do
{ sons entitled thereto, as hereinaft
! prescribed. Said twenty-five mill
? dollars ($22,OOO,0OO) is hereby a
proprlated out Of said bonus fund (