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the block of ground mentioned in section one (1) of this Act and receive conveyance to the State of Colorado, placing the title in fee simple to said ground in the State.

ty belonging to

SEC. 3. The Board of Managers of the Capitol sell all real properbuilding are empowered and authorized to sell and dis- the state. pose of all the real property in the city of Denver which has been heretofore donated to the State of Colorado for

Capitol building purposes, and to apply the proceeds How proceeds to be thereof to the payment of any sum of money ordered to applied. be paid for the said block of ground herein authorized to be purchased as an addition to the Capitol building grounds. If said block of ground has been already paid for, at the time said real property in the City of Denver is sold or disposed of, then the proceeds of such sale shall be conveyed by the Board of Managers of the Capitol building into the State Treasury to the credit of the fund from which said payment has been made.

Attorney general

title

SEC. 4. The Attorney-General of the State of Colorado shall examine the title to the above described shall examine the property, and if found valid and legal he shall certify the same to the Auditor of the State of Colorado, who shall thereupon draw his warrant upon the State Treasurer for the sum of one hundred thousand dollars, for the 000 for full purfull purchase of said land, taking from the grantors a good and sufficient deed therefor, in the name of the State of Colorado.

Approved February 11, 1883.

Warrant for $100,

chase.

AN ACT

TO PROVIDE FOR THE CREATION OF A BOND-
ED INDEBTEDNESS ON BEHALF OF THE
STATE TO THE AMOUNT OF THREE HUN-
DRED THOUSAND DOLLARS TO AID IN THE
ERECTION OF A CAPITOL BUILDING IN
THE CITY OF DENVER, AND FOR THE

Submit to electors

al election.

SUBMISSION OF THE QUESTION TO A VOTE
OF THE QUALIFIED ELECTORS OF THE
STATE.

Be it enacted by the General Assembly of the State of Colorado: SECTION 1. That there shall be submitted to the at the next gener- vote of the qualified electors of the State of Colorado, at the next general election occurring in November 1883 for their ratification or rejection, the proposition to create a bonded indebtedness on behalf of the State to the amount of three hundred thousand dollars, under the provisions of Sections 3, 4 and 5 of Article XI of the State Constitution; the bonds representing such indebtedness to be due and payable in fifteen (15) years from the date of issue, and to bear interest at a rate not exceeding six (6) per cent. per annum; the said bonds to be sold for not less than their par value, and the proceeds thereof to be used in the erection of a State Capítol building in the City of Denver, in such manner as may be provided by the acts of the Legislative Assembly.

Secretary of state

to county clerks.

County clerk shall

SEC. 2. It shall be the duty of the Secretary of shall give notice State at least thirty (30) days previous to the general election afore-mentioned, to make out and cause to be delivered to the County Clerk of each County of the State a notice in writing stating that at such general election the before mentioned question is to be submitted to the vote of the duly qualified electors of the State, for their ratification or rejection as required by the Constitution; and the County Clerk of each County shall thereupon publish notices and give notice in writing of such election by causing the of election copies same to be published in a newspaper having general circulation in the County, and sending of a copy of such notice by mail to the judges of election in each precinct, to be posted at the place of voting at least fifteen days before the date of said election; and no person shall vote at such election upon the question of creating a bonded indebtedness as set forth in Section 1 of this act unless he shall have the necessary qualifications of an elector as provided by law.

furnish to judges

thereof to posted.

be

What the ballots shall contain.

SEC. 3. All persons voting on the question as before provided, shall vote by separate ballot, which shall be deposited in a box to be used for that purpose

only and on which ballot shall be printed the words, "For the creation of a bonded indebtedness of three hundred thousand dollars, to aid in the erection of a State Capitol building," or "Against the erection of a bonded indebted- How canvassed. ness of three hundred thousand dollars to aid in the erection of a State Capitol building." The votes so cast on the question of the creation of the said bonded indebtedness shall be canvassed, and the result determined in the same manner as provided by the laws of this State for the canvass and return of votes for Representative in Congress.

sioners of state

debt created.

nomination

of

SEC. 4. There is hereby created for the purposes Board of commisof this act, a board to be known as the Board of Commissioners of the State debt, which shall consist of the Governor of the State, the Secretary of State, the State Treasurer and State Auditor. If a majority of the votes lawfully cast upon the question of the creation of a bonded indebtedness as set forth in the preceding sec- Number and de tions shall be in favor of the creation of such indebted- bonds. ness, then the Board of Commissioners as aforesaid shall proceed as soon as practicable to carry out the provisions of this act by the issue of coupon bonds of the State of Colorado as hereinafter set forth. The bonds issued shall be comprised in one series of three hundred bonds numbered from No. 1. to No. 300, both numbers inclusive, which shall be of the denomination of one thousand dollars each, and the rate of interest thereon, which shall be determined upon by the said board, shall not exceed six (6) per cent. per annum, to be evidenced by coupons attached to said bonds, and to be paid semi-annually at Interest the office of the State Treasurer in the City of Denver, or at such bank or banking house in the City of New York as the said board may designate, at the option of the holders thereof. The principal of said bonds shall be due and payable in fifteen years from date of issue at the

where.

paid;

office of the State Treasurer. All the bonds issued under shall be registered. this act shall be registered in the office of the State Auditor, and his certificate of such registry, and the seal of his office shall be affixed to each bond, which certificate and seal shall be evidence of their legal issue; and the total amount of such issue shall be three hundred thousand dollars.

Called "capitol

How executed.

SEC. 5. The bonds issued under this act shall

building bonds." be known as "Capitol Building Bonds," and shall be signed by the Governor of the State, countersigned by the State Treasurer, and attested by the Secretary of State, who shall affix the great seal of the State to each bond. They shall be numbered and registered in a book kept for that purpose by the State Treasurer in the order in which they are issued, each bond shall state upon its face the amount for which the same is issued, to whom issued, for what purpose issued, the date of its issuance, and the title of this act under which the issue is made; and the text of the said act shall be printed on the reverse side of each bond.

Tax shall be levied to pay interest.

Interest fund.

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⚫ Capitol building

SEC. 6. Whenever the bonds are issued as provided in this act, it shall be the duty of the State Board of Equalization to levy and assess a special tax on all the taxable property in the State sufficient in amount to fully discharge the half yearly interest accruing on the said bonds, which tax when collected, shall be paid into the State Treasury to the credit of the "Interest Fund," and for the ultimate redemption of the said bonds they shall levy annually after nine years from the date of their issuance, such tax upon all the taxable property in the State as shall create a yearly fund equal to twenty (20) per cent. of the whole amount of the bonds issued, which fund shall be called the "Capitol Building Bond Sinking bond sinking fund. Fund;', and all taxes for interest on and for the redemption of such bonds shall be levied and collected as other State taxes, and shall be paid into the State Treasury in cash only. The proceeds thereof shall be kept by the State Treasurer as special and distinct funds under their respective heads, to be used in payment of interest on and for the redemption of such bonds only, or for their purchase as hereinafter provided, and for no other purpose whatever. Provided, that whenever any surplus remains to the credit of the "Interest Fund" after the full payment of the interest maturing in any year, the said Board of Commissioners shall cause such surplus to be transferred to the credit of the "Capitol Building Bond Sinking Fund." All moneys belonging to the said sinking fund may be invested by the said board in registered bonds of the United States, or they may be applied by the said board to the purchase, on behalf of the State, of such of the Capitol

to general assem

said sinking fund

Building bonds as may be obtainable, as in the judgment Board shall report of the said board may best serve the interest of the State. bly condition of The said board shall, whenever called upon, report to the General Assembly the condition of the said sinking fund, the amount of the same, and how invested.

SEC. 7. For the payment of the coupons representing the first year's interest accruing on the bonds to be issued under this act, the State Treasurer is hereby authorized and directed to apply any moneys at that time in his hands belonging to the Capitol Building Fund; such moneys so used to be restored by him to the said fund by transfer from the Interest Fund as soon as a sufficient amount is received into the said Interest Fund from the collection of interest tax as provided in Section 6 of this act.

First year's interest

to be paid from

the capitol build

ing fund.

SEC. 8. When any of the bonds issued under this cancellation. act are purchased or redeemed, it shall be the duty of the said Board of Commissioners to cancel the same so that they can be plainly identified, and cause a record of such cancellation to be made on the bond registry books of the State Treasurer and the State Auditor.

SEC. 9. The said Board of Commissioners shall be authorized to prescribe the form of the bonds to be issued under this act, and the coupons thereto; and when such issue is made as herein before provided, the said board shall be authorized to dispose of the same for cash, and deposit the proceeds thereof with the State Treasurer to the credit of the Capitol Building Fund, to be used in aid of the erection of a Capitol Building for the State of Colorado, in the City of Denver, in such manner as may be provided by the acts of the Legislative Assembly; Provided, that none of the said bonds shall be sold at less. than their par value.

Board of commis

sioners to preforma of

scribe

bond.

or repealed.

SEC. 10. This act shall not be revised, amended or Not to be amended repealed until the total amount of the indebtedness herein provided for, is fully paid and discharged.

Approved February 11, 1883.

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