The Bessemer indicator., 1894-09-22

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-
ber, A. ID. 1894, there will be submitted
to the qualified electors the question Of
amending the constitution OF this state
The authority for submitting such
question is found in House Bill No. 1876,
which is, in the words and figures,
following, viz:
To submit to the qualified electors OF
the state of Colorado amendments to
article XI OF the constitution OF the
state of Colorado.
Be 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, ut 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 .ority OF those
voting thereon, shall be valid us part
of the constitution, that is to say: Sec
ton of article XII. of the constitution
OF the state of Colorado, shall be 80
amended as to read as follows:
Section l. 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 apply to the guaranty
by any such county, city or town Of
bonds or warrants issued in the con-
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 us may
be prescribed by law.
Sec. 2. Section of said article shall
be 80 amended as to read Us 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 provid-
ing for the levy OF a tax, not exceeding
twelve (12) mills on each dollar OF
valuation Of taxable property within
annual interest, and extinguish the
principal Of such debt within fifteen
| (l5), but 'ot less than ten (1O) years
from the creation 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-
tion Of incurring the same shall. at
regular election for councilmen alder
men or officers OF such city or town, be
electors thereof as shall, in the year
next preceding, have paid property
tax therein, and 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 Mt
the time OF such election, shall not at
any time exceed three (3) 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.
latIon OF more than twenty-five thou
sand (25,O0O) 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 80 created, together with the
debt existing at the time OF such cleo.
any time five (6 per cent. Of the same
valuation; and, Provided, That the
limitations Of this section shall not
apply to the gu aranty by my 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.
EoS' -. EhCu oi6cpOr Young at said
election and dssirous of voting for or
ag aiHst all the amendments TO said
article, proposed at said election, sh ali
deposit in the ballot box ticket where
on shall be printed the words .sFor the
amendments" or Against the amend
ments." Any such elector not deeirous
of voting as aforesaid may express his
approval or rejection Of any one or more
OF the amendments to said article 40
proposed; Provided, That he shall
designate each amendment 70 approved
or rejected by him by numbar o. IL
appears in this act
Sec. 4. The votes oast for the edop-
tion or rejection Of said amsndmeuk.
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 Tor
Representatives in congress.
Approved April 8, 1888.
In testimony whereof, I have here
unite .st my hsnd and afhxsd the arest
seal & the stats of O0acea1ov af the
city H Dsavee, thb dxth dav q
nH6oM o. sGocx.ERs,
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