The state herald. (Holyoke, Logan County, Colo.) 1887-1921, 1894-10-26

outef the statei Provided, That the limita
Nons Of this section shlil not apply 10 tho
guaranty BY any such county. city, or town. of
bonds tr warrants issued IN thscUnstruction
cflresl improvements. and payable out Of
moneys 70 lie collect ID by special assessments
on the pr perty benefited. by such bonts and
warrants may be guaranteed i, such manner
and subject to such Limitations MS may be
prescribed by law"
SEC. .. Section OF said Article shall be so
amended ar to read rs follows: "sEc. .. No
city or town shall contract any deb, by loan
In any form, .seept by means Of I'M ordinance,
which shall beirrepealable until the indebt
edness therein provided for shall have been
fully paid or discharged; specifying the pur
poses TO which the funds to he raised shall be
applied. and providing for the levy Of q YAK.
not exceeding Twelve lx) mills on each dollar
of valuation Of taxable property within sach
city or town. sufficient to pay tile annual In.
terest, and extingui h the principal Of such
debt within fifteen (l5) but not less than ten
lol yenrs from the creation thereof; and such
tax WHEN cole ted shall be applied only to
thepurp,scsin such OF, II r. anccs specified unul
Observation-Disclosures shall br paid or discharged
But no such debt shall be created unless the
question of mourning the same shall, at Il reg
ular election for councilmen, alderman or Of
neersof such city or town, be submitted to II
vote of such qualified electors thereof as shall
In the year mex, preceding have paid aprop
crty tax therein, and " majority of those vot-
lag on the question, by ballot deposited In II
separate ballot box, skal vote IN favor of
creating such debt; but tho aggregate amount
Of debt so created. together with the debt cS
listing ut tho time Of UGH election. shall not
nj any time exceed three (3) per cent of the
valuation last aforesaid, Debts contracted
for suppl. ing watcrto such city or town are
eNcrptcifrom the operation Il this Section.
The valuation IN tn 5 -cction mentioned shall
be in MI cases that OF the asse snent next pre-
ceding the last ass 'ssmcnt before TIL adopt
ion Of such ordinance. Provided, That IN
cities having u populstion Of more than twea'
ty.Avc thousand 60, ooJl AN additionaiipdcht-
cincss OF not more thantwo ,sl peri CENT. nj
the same v.luation Ia yin like manner and
By like auth1rit, bel acurr ior the purp So
of acquiring and Improving site Tor parks
and and purk.ways or such city, nud that the
aggregate amount II such lcbt so or atod. b.
gcthcr with the debt existing Mt tn timo OF
such c!cctiod may equal but shall not exceed
at any time five 90 po cent. Of the same valu'
al on, and Provided, Thatihr limitations Of
This scc,i,n shall not pply L. the guaranty
by my such city or t,wn of any bonds or war
rao,sis ucd by su h city or townin the con
structiun OF local improvements; but in dis.
charg OF su h guaranty, su h city or town
may purchase and mold bordso or warrants -
Guaranteed, and be sub.gated to all the
rights q theh iders Thereof"
sac. Each clectlr voting 81 said lection
and desir us OF voting forer against all III
amendments TO said Article, prop sed nj sad
election. ,hail depos,tin the ballot box a tick
c. wnrrron shall be printed the words "For
The Amendments" or Against the Amend.
mrnts." Amy such cicctor ct DESTROYS 4
yotias ~ aforcsaid n.ay cxpresshis approval
~ rejection OF any one OF uore ii The amend.
munts to id Article SO proposed; Provided
Thathe shal designate each amendment so
approve or re!eced by him by number as IL
appears In this act.
SEC The vote. cast for the adoption or
rejection OF said aincad meat. ,cr either or any
the; ~. shall be caayasse and the result
terin,ucd Ia the manner provided by the
avs of this state for the canvass Of VOTES for
representatives Ia Congress.
Approved April :, 1913.