The Elbert County tribune., 1908-10-15
coxsrIrUrIoNAL AxExrMrnr.

I general election to be held on the third
day Of November, A. ID. 1905. sAers will
the State of Colorado the qusstior OF
amending the Constitution OF snid state.
aa IS found IN House s 70 rssh s
which Is. In words and feursB. follow
ing. vix-:
AN ACT
To Submit to the Qualified Electors OF
the State OF Colorado an Amendment
to Section Three t3) of Article Eleven
(xIl OF the Constitution Of the State
Creation Of a Bonded Indebtedness on
Behalf of the State to the Amount of
ss1stSat Al, I9r ,ne Lnrpose r, w oi Funding
the State for and Prior to the Year
1897. and to Provide for the Issue and
Payment of Said Bonds.
Be 1t Enacted by the General Assem-
bly, OF the State of Colorado:
Section !. There shall be submitted to
the qualified electors OF the State OF
! of members of the General Assembly for
their approval or rejection the following
sss IN to the siss Of aes
shall be valid as a part Of iss cobst.-
Section Three (3) of Artists Eleven
| (XI) OF the Constitution OF tie state ot
Colorado shall be amended so an to rssd
sec. .. The state shall not contract
any debt by loan In any form. except to
ipi
enue, erect public buildings for use OF
the State. suppress insurrection. defend
5he State er N nie tine q stsss Wsr: assist the 1e
amount of debt contracted In any one
year to provide for deficiencies OF rev
enue, shall not exceed one-fourth of
/ mill on each dollar of valuation OF tax
able property within the State. and tho
aggregate amount of such debt shall nor
mill on each dollar OF said valuation,
until the valuation shall equal one hun
/ dred Millions of dollars, and thereafter
such debt shall not exceed one hundred
| thousand dollars, and the debt incurred
in any one year for the erection of pub
lie buildings, shall not exceed one half
mill on each dollar OF said valuation.
and the aggregate amount of such debt
\ OF fifty thousand dollars. Except as
provided in section five OF this articlel.
and in all cases the valuation In this
assessment last preceding the creation
| of said debt.
amount OF debt that may be incurred,
as above. the state may contract
debt by loan for Iiquidating or redeem
Ing the principal only Of the warrants
issued by the Auditor of state during
the years 1887 1888. 1889, 1892. 1898.
/ 1894 and 1897: said debt by loan to be
est funding bonds to an amount not ex-
ceeding eight hundred and seventy
seven dollars and ninety four cents
| (SS73. 3.45794) or so much thereof as may
i be necessary TO cancer the STATE lnueDt-
! edness herein named. Such funding
bonds shall be payable at the option OF
the State any time after ten years from
| their date but shall be due and paya.
BILE within fifteen years after date. and
shall be of such denominations as the
state Treasurer may deem best. The
| bonds shall bear interest at the rate of
| three per cent per annum. interest pay
able semi-annually at the office Of the
City of New York. State of New York
The principal of said bonds shall be
payable at the office of the State
Treasurer. and shall bear interest from
April l. 1909.
But no such bonds shall be Issued ex-
cept in exchange for a like amount of
Indebtedness and upon the surrender OF
warrants evidenctng the same. sxclu-
sive of interest.
The State Treasurer is hereby author
lied and directed to exchange said
bonds for equal amounts of warrants
presented for exchange by. individual
lie school fund and other Investment
funds under his control issued in the
aeoyS sha nesster and Keep the
bonds In the name and for the benefit
OF the public school fund, and ctter. In
Section 2. Each .eiector voting at
such election and desirous OF voting
5ST aE,nss n sss the sao so.
whereon shall be printed or written the
words: For the amendment to Sec.
funding the State Indebtedness. and
| the words Against the amendment to
Sec Of Ar Article t. xI Of the Constitution
shall indicate his approval or disap-
proval of the same by. placing cross
| groups of words on his ballot The
| votes cast for the adoption or the re-
lection of said amendment shall be
canyassed and the result determined
in the manner described by the laws of
the State for the canvass of votes for
| representatives in Congress.
| arta t,,t,, 3 hat
said amendment to the Constitution
has been adopted. the Governor. the
Attorney General and the Secretary OF
State shall meet together at the office
of the State Treasurer and organize
one of its members president and an
other secretary of said board Each
member Of said board; or their success
an oath of office and file the same with
the Secretary of State. in the usual
the faithful discharge of the duties re-
ouired by this Act Said board is here
by empowered to subpoena witnesses.
| send for persons and papers. admins
ter oaths. and perform all other Acts
necessary to the speedy and and proper dis
and Auditor shall furnish the necessary
clerical help required by the board.
Section I. When said board has de-
termined the amount which should be
and file full and complete statement
of its findings and determination with
the Auditor of the State. and the de-
cision of a majority OF the board shall
be final.
Section 5. After the board herein
provided for has filed its report and
findings with the Auditor OF State. the
Governor. the Treasurer, and the Secre-
tary OF State are hereby authorized to
Issue the bonds OF the State OF Colo
RADIO in accordance with the constitu-
ton as amended ] In a sum not exceed
thousand. four hundred and fifty seven
dollars and ninetyfour cents (SsT3,-
457.94) and to exchange said bonds or
so many thereof may be necessary
at par. for the amount of the principal
due on any and all OF said warrants.
the legal holders thereof. and unpaid
on april 1st. 1903. upon surrender OF
/ aatd for On