obligee or payee of any such instrument resided at the time of the execution thereof; provided, however, if such personal property be too ponderous to be easily moved, or if the obligee or payee of such instrument have not, at the time. of the execution of such instrument of writing, a known place of residence in the county where the maker resides, then it shall be lawful to tender such personal property at the place where the maker of such instrument resided at the time of the execution thereof. Any tender made in pursuance of this section, shall be equally valid and legal in case any such instrument of writing shall have been assigned in pursuance of the fourth section of this chapter, as if no such assignment had been made. Legal tender of property dis of instrument Proviso as to 100. SEC. 13. A legal tender of any such personal property shall discharge the maker of any such instrument such personal from all liability thereon, and the property thus tendered is charges maker hereby declared to be vested in and and belong to the legal from liability. holder and owner of any such instrument of writing, and he may maintain an action for the recovery thereof or for damages, if the possession be subsequently illegally withheld from him; provided, however, if any such property so tendered shall be of a perishable nature, or shall require perishable feeding or other sustentation, and the person owning and holding such instrument of writing be absent at the time of tendering the same, it shall be lawful for every person making such tender, to preserve, feed and otherwise take care of the same, and he shall have a lien on such tendered property for his reasonable trouble and the expenses of feeding or sustaining such property, until payment be made for such trouble and expense. property. Days of grace allowed on and promissory apply to checks able at sight. 101. SEC. 14. Three days of grace shall be deemed and taken to apply to all bills of exchange and promissory notes bills of exchange maturing within this state, so that they shall not be deemed notes; not to to fall due until the third day from and after the day of and drafts paymaturity expressed therein; but this provision shall not extend to drafts payable at sight, nor to checks for funds deposited in bank or elsewhere, subject to draft at sight. 102. SEC. 15. Bills of exchange and promissory notes maturing on Sunday, the fourth day of July, Christmas, or maturing on Sun day, etc., deemed to be Bills and notes any day set apart by the president of the United States or the governor as a day of public fasting or thanksgiving, shall be deemed to fall due the previous day, and may be presented and protested accordingly. due the day previous. AN ACT RELATING TO BONDS AND INTEREST THEREON, HERETOFORE Be it enacted by the General Assembly of the State of Colorado: 103. SECTION 1. Any county, city or town that has Bonds may be heretofore subscribed to the capital stock of any organized railroad or wagon road, and issued bonds in payment exchanged for therefor, in the manner provided in section fifty-two (52) purchased or exchanged for stock, or stock bonds. of chapter eighteen (18) of the revised statutes of the territory of Colorado, the same being section one (1) of "an act relating to railroads, wagon roads, and mining companies, subscription to stock, issue of bonds, taxes to pay interest and principal by counties, cities and towns, and for other purposes," approved January 10, 1868, or under an act entitled "an act to amend an act to enable road, ditch, manufacturing and other companies to become bodies corporate," and the several acts amendatory thereto, approved December 27, 1867, or any other act of the legislature of Colorado now in force, may, by the county commissioners of such county, or the mayor, or president of such city or town, purchase said bonds at the market rates, if required to liquidate and redeem them, and said bonds may be exchanged into said stock, or said stock into such bonds, if deemed expedient by said commissioners, mayor, or president; proCounty commis- vided however, that such exchange shall not be made by notice of inten- any board of county commissioners except after notice by and call election, such commissioners of their intention so to do at least if requested by tax payers. sioners shall give tion to exchange thirty (30) days before the time of such proposed exchange; such notice to be given and published in the same manner as hereinafter provided by this act for the sale or transfer of such stock; and if, at the expiration of such time, fifty (50) tax payers of such county, who may feel aggrieved shall, in writing, request of such commissioners that an election be held to determine whether such exchange shall be made or not, it shall be the duty of said. board to call an election, and such election shall be called, held and conducted, and the votes cast at the same shall be canvassed and the result declared, as hereinafter provided in this act, for the sale and transfer of such stock, and if it shall appear at such election there is a majority of the legal votes in favor of such exchange, then the exchange shall be made; but if it appear that a majority of the legal votes cast at such election is against such exchange, the same shall not be made; but if notice be given, as required in this section, of such proposed exchange, and the request for an election shall not be made, as aforesaid, then such exchange shall be made. changed for cancelled. 104. SEC. 2. If at any time such exchange shall be Bonds exmade, the said board of county commissioners may assign stock how to be such stock, and shall, on the receipt of such bonds, in the presence of the clerk of said board, or his deputy, cancel such bonds and the coupons attached thereto, by writing the word "cancelled" on the face thereof; and the clerk of the said board shall make a record of the proceedings, stating what amount of such bonds and coupons were cancelled, and shall enter in the book of registry of such bonds the fact of such cancellation of both bonds and coupons. Sale or transfer liquidation and redemption of bonds, to be submitted to voters. 105. SEC. 3. When any board of county commissioners, mayor or president of any city or town, which has of stock, for heretofore issued bonds in payment of stock as aforesaid, shall deem it expedient to sell or transfer such stock to liquidate and redeem such bonds, it shall be the duty of said commissioners, mayor or president, to call an election of the legal voters of such county, city or town, to approve and vote for such sale or transfer; public notice of such election shall be given thirty days prior to the day of such election in any newspaper published in such county, city, or town; if no newspaper is published therein, notice shall How election be posted at least thirty (30) days prior to such election, called and held. at the usual places of holding elections in each precinct in such county, city or town; such election shall be held, conducted, and the votes returned and canvassed accord fer authorized, bonds. If sale or trans-ing to the laws then regulating such elections; if upon proceeds to be canvassing the votes cast at any such election it shall be applied to liquidate and redeem found that a majority of all the votes cast are in favor of such sale or transfer, the commissioners, mayor, or president aforesaid, shall thereupon sell and transfer said stock, and the proceeds of sale of such stock shall be exclusively applied to purchase, liquidate or redeem such bonds and interest thereon. Annual tax to be lected for pay 106. SEC. 4. It shall be the duty of the county commissioners of any county, or the mayor, president, municipal authorities, or assessors of any city or town, that has issued bonds under the acts specified in section one (1) of levied and col- this act, to duly levy and assess a special tax annually ment of interest. upon the taxable property in such county, city or town, in amount sufficient to pay the interest coupons, when and where due, upon all such bonds, and for the proper expenses of collecting, remitting and disbursing such funds; and after ten (10) years from date and issue of any such Fund to be pro-bonds, said counties, cities or towns shall provide by tax vided by taxa tion of five per cent. of bonds annually. State treasurer custodian of purchase and redeem bonds when authorized tion for redemp- ation to pay at least five per cent. of the principal amount of such bonds annually thereafter, until the full amount of such bonds shall have been paid, purchased or redeemed, and all the interest thereon due; the taxes so levied and assessed shall be collected as other taxes and the proceeds remitted and paid to the treasurer of the state, (except the taxes levied, assessed and collected to pay the principal or fund, and shall interest on bonds issued prior to February first, A. D. one thousand eight hundred and sixty-eight, which shall be retained by the county treasurer, to be by him paid out as hereinafter provided,) as custodian of such funds, but shall only and exclusively be applied to the payment of interest and principal, or purchase of such bonds by him, and for the expenses thereof; the purchase or redemption of such bonds may be done when authorized by said commissioners, mayor or president of the counties, cities, or towns issuing such bonds. The treasurer shall be paiů a reasonable compensation for such service in the payments, purchase or redemption, from the proceeds of taxes or otherwise. 107. SEC. 5. The auditor of state, shall when any of shall cancel and redeemed, and due or to be paid received and the bonds aforesaid (except bonds issued prior to February Auditor of state first, A. D. one thousand eight hundred and sixty-eight,) register bonds are paid by the county commissioners of any county, or shall report sums the mayor or president of any city or town, receive ten and amount cents each, for cancelling such bonds, and registering the paid. same, to be paid by said commissioners, mayor or president. It shall be the duty of the auditor to include the sums due, or to be paid on such bonds, in his report for taxation in such counties, cities or towns, and the amount received and paid on account of such taxes, and payment of such bonds, as required of him in his duties to the general assembly. In cases of neglect or delay of any county, city or town officers to levy, assess or collect and ing to levy, remit the taxes herein provided for, to the treasurer of the remit such tax, liable to penalty, state, in time to meet such interests or payment of princi- and agents may be appointed. pal, and purchase of bonds, any such officer shall be liable to a fine of not less than five hundred dollars for each offense, to be paid to such bond holder as may sue for the same; and the state treasurer and auditor, may appoint proper agents to collect and remit such taxes. Any such bond that may be purchased or fully paid, shall be so recorded and cancelled. Officers neglect collect and 1868. Surplus, after terest, to be applied to pur chase of bonds. 108. SEC. 6. Whenever there shall be a surplus of Bonds issued funds arising from taxes levied, assessed and collected for prior to Feb. 1, the payment of interest on bonds issued prior to February first, A, D. one thousand eight hundred and sixty-eight, after the payment of interest due, such surplus shall be held and applied by the board of county commissioners payment of inof the county issuing such bonds, to the purchase of such bonds for cancellation; and when any such bonds shall be so purchased, the same shall be returned to the county clerk of the county, who shall cancel the same and all County clerk coupons attached thereto, in the manner hereinabove pro- bonds. vided; and all taxes levied, assessed and collected for the payment of principal or interest of such bonds, shall be by the county treasurer of the county paid out, either for the purchase of bonds for cancellation as aforesaid or for the payment of accrued interest or the principal of said bonds as the board of county commissioners shall direct; and it shall be the duty of such county treasurer to remit shall cancel such |