The Bessemer indicator., 1894-10-27

PROPOSED AMENDMENT TO THE
CONSTITUTION OF THE STATE
OF COLORADO.
Public notice is hereby given that at
the general election TO be held in the
several wards and precincts in the state
Of Colorado on the sixth day OF Novem-
Der, A. d. 1884, there will be submitted
to the qualified electors the question Of
The authority for submitting such
question is found in House Bill No. 1876,
which is, in the words and figures,
following, viz:
AN ACT
To submit to the qualified electors Of
the state Of Colorado amendments to
article XII OF the constitution of the
state OF Colorado.
he it enacted by the General Assembly
of the state OF Colorado:
Section l. There shall be submitted
to the qualified electors OF the state OF
Colorado, at the next general election
for members Of the General Assembly,
for their approval or rejection, the
following amendments to the constitu-
ton of the state OF Colorado, which,
when ratified by ma. R.ority of those
voting thereon, shall be valid as part
OF the constitution, that is to say: Sec
ton l of article Xl. of the constitution
OF the state OF Colorado, shall be SO
amended as to read as follows:
Section |. Neither the state, nor any
county, city, town, township or school
district shall lend or pledge the credit
or faith thereof directly or indirectly,
in any manner to or in aid OF any person,
company or corporation, public or
private, or for any amount or for any
purpose whatever, or become respon-
sible for any debt, contract or liability,
to any person, company or corporation,
public or private. in or out of the state;
Provided, That the limitations OF this
section shall not apI ly to the guaranty
by any such county, city or town OF
struction of local improvements. and
payable out of moneys to be collected
by special assessments on the property
benefited, but such bonds and warrants
may be guaranteed in such manner
and subject to such limitations as may
be prescribed by law.
Sec. . Section 8 of said article shall
be so amended as to read as follows:
Sec. 8. No city or town shall CON
tract any debt by loan in any form,
except by means of an ordinance, which
shall be irrepealable until the indebt-
ness therein provided for shall have
been fully paid or discharged; specify
ing the purposes to which the funds to
be raised shall be applied, and provd-
ing for the levy OF n tax, not exceeding
twelve (l2y mills on each dollar OF
valuation of taxable property within
such city or town, sufficient to pay the
annual interest, and extingulsh the
(l5), but ot less than ten (1O) years
from the creuton thereof; and such
tax, when collected, shall be applied
only to the purposes in such ordinances
specified, until The Indebtedness shall
be paid or discharged. But no such
debt shall be created unless the ques-
ton of incurring the same shall, at II
regular election for councilmeh alder
men or officers of such city or town, be
submitted to vote of such qualified
electors thereof as SHALL in the year
next preceding, have paid a property
tax therein, and n majority OF those
voting on the question, by ballot de
posted IN a separate ballot box, shall
vote in favor OF creating such debt; but
the aggregate amount OF debt 80 Great
ed, together with the debt existing at
the time OF such election, shall not at
any time exceed three 90 per cent of
the valuation last aforesaid. Debts
contracted for supplying water to such
city or town are excepted from the
operation Of this section. The valua-
ton in this section mentioned shall be
in all cases that OF the assessment
next preceding the last assessment
before the adoption OF such ordinance;
Provided, That in cities having popu-
lntIon of more than twenty-five thou
sand 1000 an additional indebtedness
Of not more than two (2) per cent OF the
same valuation may in like manner and
by like authority be incurred for the
purpose Of acquiring and improving
sites for parks and parkways for such
city, and that the aggregate amount of
such debt so created, together with the
tion, may equal but shall not exceed at
any time five (5) per cent. Of the same
valuation; and, Provided, That the
limitations OF this section shall not
apply to the gu aranty by any such city
or town of any bonds or warrants
issued by such city or town in the con-
struction of local improvements; but
in discharge of such guaranty such city
or town may purchase and hold bonds
or warrants so guaranteed, and be
subrogated to all the rights OF the
holders thereof.
Sec. 3. Each elector voting at said
election and deslrous of voting for or
against all the amendments to said
article, proposed at said election, shall
deposit in the ballot box ticket where
on shall be printed the words "For the
amendments" or against the amend
ments.' Any such elector not desirous
of voting as aforesaid may express his
approval or rejection OF any one or more
OF the amendments to said article 30
proposed; Provided, That he shall
designate each amendment SO approved
or rejected by him by number as it
appears in this act.
Sec, H. The votes cast for the adop-
tion or rejection Of said amendments,
or either or any of them, shall be can
vassed and the result determined, in
the manner provided by the laws OF
this state for the canvass OF votes for
representatives in congress.
Approved April 8, 1893.
In testimony whereof, ! have here
unto set my hand and affixed the great
seal OF the state OF Colorado, at the
city OF Denver, this sixth day of
August, A. u. 1894.
NELSON q McCI,EES