The Delta independent., 1908-10-16
CONSTITUTIONAL AMENDMENT.

CONSTITUTIONAL AMENDMENT.
Notice is hereby given II that a. at at the general
ber A D. 1908, there will he submitted to the
qualified electors of the state of Colorado the
question of amending the Constitution of said
State
The authority for submitting such question is
found in House Bill n ;. 495, which is, in words
and figures. following, viz:
AN ACT
To Submit to the Qualified Electors of the State
of Colorado an Amendment to Section Three
(3) of Article Eleven lXp of the Constitu-
tion of the State of Colorado; and to Pro
vide for the Creation of Bonded Indebted
Behalf OF the State to the amount
of ss7s.i57s4 for the Purpose Of Funding
for and Prior to the Year 1897, and to Pro-
vide for the Issue and Payment of Said
Bonds.
Section 1. There shall be submitted to the
uualifed electors of the State of Colorado at
the next general election of members of the
General Assembly for their approval or reiec-
ton the Glowing amendment to the Consti-
tuition of the State of Colorado. which, when
ratified by majority of those voting thereon,
shall be vaiid as part of the Constitution,
to-wit:
section Three (3) of Article Eleven (Xp Of
the Constitution of the State Of Colorado shall
be amended so as to read as follows:
Sec 8. The State shall not contract any
debt by loan in any form, except TO provide
for casual deficiencies of revenue. erect pub
lie buildings fOr use Oh tne Suitc, suppress
insurrection, defend the State, or, in time. of
war, assist in defending the United States;
and the amount of debt contracted in any
one year to provide Tor deficiencies of revenue.
shall not exceed ne-fourth OF mill on each
dollar of valua ion of taxable property with,
in the State, and the aggregate amount of
such dept shall not at any time exceed three
fourths of mill on each dollar of said val
uation until the valuation shall equal one
hundred millions of dollars, and thereafter
such debt shall not exceed one hundred
thousand dollars. and the debt incurred IN
for the erection of public build
ings. shall not exceed one-haif mill on each
amount of such debt shall never at any time
exceed the sum of fifty thousand dollars, lex
cept as provided In section five Of this articiel
mentioned shall be that of the assessment last
preceding the creation of said debt.
Of debt that may be incurred. as above, the
State may contract a debt by loan for liquidat-
warrants issued by the Auditor Of State dur
ing the years 1887, 1888, 1889, 1892. 1888, lss!
BY registered coupon interest funding bonds
to an amount not exceeding eight hundred
necessary to cancel. the State Indebtedness
payable at the option of the State any time
alter ten years from their date but shall be
due and payable within fifteen years after
the state treasurer may deem best. The bonds
shall bear interest at the rate of three per
at the onice of the State Treasurer or at some
place in the city of New York, State of New
payable at the office OF the state Treasurer,
and shall bear interest from April !, 1879
But no such bonds shall be issued except in
exchange for like amount of Indebtedness
and upon the surrender OF warrants evdencing
the same, exclusive OF interest
The State Treasurer is hereby authorized
and directed to exchange said bonds for equal
amounts of warrants presented for exchange
by individual holders or of warrants held by
the public school fund ana other investment
funds under. his control issued in the years
above named, aud the State Treasurer shall
register and keep the bonds in the and
for the benefit OF the public school fund, and
other investme funds under his control"
Section q Each elector voting at such
election a.d desirous OF voting for against
a ticket whereon shall be printed or written
the words: For the amendment TO Sec. 3 of
Article xl of the Constitution funding the
State Indebtedness" and the words Against
the amendment to Sec. of Article ri Of the
Constitution funding the State Indebtedness,
of the same by placing tXJ opposite
one or the other of said groups of words on
the rejection of said amendment shall be can
vassed and the result determined in the
manner described by the laws of the State for
the canvass of votes for representatives in
Congress.
section 8 Upon aseertasning that said
adopted, the Cove. nor, the state Auditor, the
State Treasurer, the Attorney General, and
the Office Of the state treasurer I and organize
as debt funding board by elccting one of its
members president and another secretary of
said board. Each member of said board or
their successors in office .hall take and sub
scribe an tath Of office and file the with
the Secretary of State, in the usual form re-
quired of State officers, for the faithful dis
charge of the duties required by this Act.
witnesses, send for persons and papers, ad-
minister oaths, and perform all other Acts
necessary to the speedy and proper discharge
of its duties. The Treasurer and Auditor shall
furnish the necessary clerical help required by
the board.
Section 4. When said board has determined
the amount which should be paid upon each
warrant it shall make and file full and com
plete statement of its findings and determine
lion with the Auditor of the State, and the
decision of mojority of the board shall be
final.
Section 5. After the board herein provided
for has filed it's report and findings with the
Auditor of State, the Governor, the Treasurer,
and the Secretary Of State hereby author.
lied to issue the bonds of the State of Colo
RADIO in accordance with the constitution
amended in Il sum not exceeding eight hun
dred and seventy-three thousand. four hum
dred and ffty-seven dollars and ninety-four
cents ($S73,45I.gD and to exchange said bonds
many thereof may be necessary, at
par, for the amount of the principal due on
offered In exchange by the legal holders thereof,
and unpaid on April 1st, lgUg upon surrender
of said warrants for cancellation. The holders
Of any OF the said warrants may pay into the
State Treasury any difference less than one
hundred dollars 500 each, necessary to pay
for the bonds 40 delivered to them respectively.
The principal Of said bonds shall be due