The Carbon County chronicle. [volume] (Red Lodge, Mont.) 1924-1924, 1924-08-13

Auditor under this Article.
"Section 5. For the purpose Of pro-
viding means for the payment Of COM
pcnsation hereunder and for paying
the expenses of administration, the
State Board Of Examiners Of the State
Of Montana is hereby authorized en-
powered and directed to issue, from
time to time, as may be required for
the purpose Of this Article, bonds Of,
and in the name Of, the State Of Mon
tana, to and in the amount Of the sum
of Four Million Five Hundred Thous-
and Dollars 1880, 000.00) in exress
Of the constitutional limitation of in
debtedness of the State Of Montana.
and over and above any bonded indebt-
edness Of said state heretofore created
or incurred for which said state is
now obligated. The bonds provided
for in this Article shall be issued in
denomination of One Thousand Doll
lars Isl ,000,00) each, and shall bear
interest at rate not exceeding five
and one half per cent (5l5 per cent?
per annum, payable semi-annually on
the first days of January and July Of
each year at the office of the State
Treasurer of the State of Montana, or
at some bank in a city outside Of the
State of Montana designated by the
State Treasurer; such bonds shall be
dated on the first day of January or
the first day of July and shall become
due and payable twenty (20) years
from their date and be redeemable at
fhs. Nf totx Dro ri ,,f 70
aminers at any time after ten (l0)
years from their date at any interest
paying period. The bonds herein re-
ferred to shall be in such form as may
be prescribed by the Attorney General
and approved by the State Board of
Examiners, and shall be signed by
the members of said board and issued
under the great seal Of the State of
Montana, and shall be registered in
tn G office of State Treasurer.
Said bonds shall have interest coupons
attached thereto covering the interest
due semiannually, which coupons shall
be executed with facsimile signatures
of all the members of the State Board
of Examiners, and the signing OF said
coupons with said facsimile signature
shall be recognized as sufficient exc
cution Of said coupons on behalf of
the State of Montana.
The bonds provided for in this Ar
ticle shall be disposed Of by the State
Board of Examiners in such manner
as they shall deem for the best inter-
ests of the State in carrying out the
provisions of this Article; provided,
that no bond shall be disposed of for
less than it's par value.
Bonds issued under the provisions
of this Article shall be a legal invest
ment for any Of the funds of the
State.
Section 6. The money arising from
the sale of each issue of bonds shall
be deposited in the State Treasury to
the credit of special fund to be
known as the Veterans Compensa-
ton Fund" which shall be used for the
payment of the compensation provided
in this Article and for paying the ex-
penses of administration thereof. First
the purpose of carrying out the pro-
visions of this Article there Is here
by appropriated from the Veterans
Com pensaticn Fund the sum Of -Four
Million Five Hundred Thousand Dol
lars f$4, 800 D0000) or so much there
of as may be necessary.
Section 7. All payments ar allow
ances made under this Article shall be
exempt from all taxation and from
levy and sale on execution.
"Section 8. That there shall be
levied annually a tax not exceeding
one mill on the dollar on all property
in the State of Montana, subject to
taxation, which said tax when collect
ed by the County Treasurers of the
counties of the State of Montana shall
be by them accounted for and paid in
to the State Treasury of the State of
Montana and to be by the State Treas
urer placed in and credited to fund
to be known as the Veterans" Com
pensation Bond Retirement Fund
and which fund shall be used exclus-
lively for the payment of the princi-
pal and interest ACQUIRING on said
bonds.
"Section Q. No charge made by
any agent, notary public or attorney
for service in connection with OBJ.
tanning the allowance as provided foI
by this Article shall be recognized By
the state and any person who for q
consideration discounts or attempts
to discount, or for consideration ad-
vances money uon any certificate OF
certificates issued pursuant to tht
terms Of this Article shall be guilty
Of gross mssdemeanor.
Section 10, Any person, who will
| intent to defraud, subscribers to any
false oath or makes any false repre-
sentation, either in the execution o.
| the certificates provided for by thi.
| Article or who with intent to defraud
lpresents to the State Auditor, or Il
any other officer Of the state, any Ger
tificate for the purpose of obtaining
1 funds provided for by this Articl
which do not in fact belong to sucl
person, or makes any false representa-
ton in connection with obtaining an
funds under the terms of this Act
shall be guilty Of a felony.
Section IL. The legislature ma
provide additional means for raisin
moneys for the payment Of the inter
lest and principal of said bonds an
: this Act shall not be deemed to pre-
vide an exclusive method for such pay
llment.
Il Section 3. That separate offici'
t ballots be provided at the genera
! election to be held in November, 1872
which shall have printed thereon II