The Delta independent., 1894-10-24
House Bill No. 1915.
AN ACT.

To Submit TO the Qualified Electors Of the
StItc OF Colorado Amendments to Ariiclc NI
OF the Constitution of the state Of Colorado.
BE 1t Enacted by the General Assembly Of the
state Of Colorado:
SECTION I. There shall be submitted to tho
qua fed electors II the Statc OF Colorado, Mt the
next general election for members Of the Gen
cral Assembly. for their approval rejection.
the State of Colorado. which, when rnifcd by u
majority OF those voting thereon. shall be valid
MS part OF the Constitution. that is TO say: Sec
tion Of Article XI; Of the Constitution Of the
State ofColorado. shall be 50 amended TO Rad ns
follows: section !. Neither the State. nor any
iii II fcnd or pledge the credit or fifth thereof az
r,ctly or indirectly. in any manner To or in aid
OF any person. company or corporation. public or
private. or for nny amount or FIR any purpose
whatever. or become responsible for any debt
contract or liability, TO any person. company or
state; I'roriucd, That the Limitations of this scc
ton shall not apply to the guaranty by any such
county. city or Town q bonds or warrants issued
In the construction of local improy cmcnts. and
payable out OF moneys TO DC collected by spe-
cial assessments on the property benefited. but
such bonds and warrants may be guaranteed in
such manner aud subject to such limitations as
may be prescribed by law
See. g. Section Of said Article shall be SO
amended as to read as follows. See. g. No city
or town shall contract any debt by loan In any
form, except by means Of an ordinance, which
shall be irrcpenlablc until the Indebtedness
therein provided for shall have been fu'Iy paid
or discharged; specifying the purpose to which
the funds raised shall be applied, and providing
mills on each dollar Of valuation Of taxable pro-
pcriy within such city or town. sufficient 10 pay
the annual interest, and extngulsh the princi-
pal of such debt within fifteen (lh) but not less
than ten (iOJ years from the creation thereof
and sucl, tax when collected shall be applied
Until i the indcB,edness shall be paid or dis.
charged. But no such debt shall be created
unless the question OF incnrring, the Eans shall.
NJ regular election for counCiliIcn, aldermen
or officer Of such city or town, be submitted TO
vote Of such qualified electors thereof rs shall.
in the year next preceding, have pnid properly
tax therein. md II majority Of those voting on
the question. by ballot deposited IN scpamtc
ballot box. shall vote In favor Of creating such
debt; but the aggregate amount Of debt sDroatcd,
together with the dcbrcxisting at the time ofsuch
election. shall not nj any time exceed three 90
per cent Of the valuation last aforesaid Debts
nrc excepted from tho operation Of this Section.
The valuation In this section mentioned shall
be IN all cases that of the assessment next pre-:
ceding the lat assessment before the adoption of
such ordinance. Provided. Tint in cities hay
ing popu'ation ~ more than twenty-five thou
sand (2j.O00) nm additional Indebtedness of not
more tbhn two t2) per cent. Of the sninc v0liln.
be incurred for the purpose II acquiring and
improving H,cs for parks and park.ways for
such city. and that the nggrcgn'e amount Of such
debt so created, together with the debt existing
II the tine of such election. may equal but shall
not exceed nt any time FIVE q. per cent. Of the
tuns of this Section shall not apply to the g,inr-
nniy by amy such city or town ofany boiids or
Warrants issued By such city or town In the
construction OF 1Ocnl Improvements. but In dis
charge rf such gtnrnn,y, such city or town niny
purchase and hold bonds or warrants so guarnii-
iced, md he mibrognted to all the rights Of the
holders thereof
Sec. r. Each clcctor voting at snid election
and desirotis Of voting for or against NIL the
appointments 10 sni1 Article proposed nt snid
whereon shall be printed the word "Fcr the
Amendments" or Against the Amendments"
Any such ciector not DESTROYS Of yotirg us aiorc-
.ftI ID Ir nftay, ftfn