The Julesburg grit-advocate., 1908-10-09
CoNsTIrUrloNAL AMENDMENT.


day Of November. A. d. 1905. there vii
be submitted to the qualified electors OF
the State of Colorado the question oi
amending the Constitution of said state
The authority for submitting such
question 10 found in House Bill No. 495,
which 10. In words and figures. follow
AN ACT
To Submit to the Qualified Electors Of
the state Of Colorado an Amendmen'
to Section Three go of Article Eleven
0ll OF .he Constitution 81 the state
Creation Of q Bonded Indebtedness on
Behalf OF the State to the Amount of
tS1S.toI.sA for the PurposS OF Fund'ng s
the state for and Prior 70 the year
1897. and to Provide for the Issue and
Payment Of Said Bonds.
Be II Enacted by the General Assem-
bly, OF tho state of Colorado:
section l. There shall be submitted to
the qualified electors of the State OF
Colorado at the next general election
Of members of the General Assembly for
their approval or rejection tho following
amendment to the Constitution OF tho
State Of Colorado. which. when ratified
sSa ba'Ssig b. %aiS S1 sh1ss Ds.t OF aks consti
tuition. to-wit:
Section Three (O of Article Eleven
Colorado shall be amended so as to read
as follows:
Sec, ,. The State shall not contract
provide for casual @ deficiencies Of rev.
enue. erect public buildings for use of
the state. suppress insurrection. deiend
defending the United States: and the
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 the
aggregate amount OF such debt shall not
at any time exceed three-fourths of .
m
until the valuation shall equal one hun
,drsd millions Of dollars. and thereafter
thousand dollars. and the debt incurred
in any one year for the erection of pub
lie buildings. shall not exceed one half
nna tPa on each doas OF said o. deh
shall never at any time exceed the sum
,of fifty thousand dollars. Except As
n IL .ssto1 ba five Of hs
section mentioned shall be that OF the
assessment last preceding the creation
. Provided. that. in addition to the
amount OF debt that may be incurrsd.
'as above. the state may contract
debt by loan for liquidating or redeem
issued by the Auditor Of state during
the years 1887. 1888; 1889. 1892. 1899.
1s9! and 1897; said debt by loan to be
lest funding bonds to an amount not ex-
,oeedinE eight hundred and seventy
three thousand four hundred and fifty-
seven dollars and ninety-four cents
'l.s7a.4s7.s4l Or 80 much thereof as may
be necessary to cancel the State indebt-
ssdness herein named. Such funding
the State any time after ten years from
their date but shall be due and paya..
bio within fifteen years after date. and
State Treasurer may deem best. The
bonds shall bear interest at the rate of
three per cent per annum. interest pay
q IL 0YDnt- n 11rF hA Nf =
state Treasurer or at some place in the
City of Now York. State Of New York.
The principal Of said bonds shall be
April i. 1908.
. But no such bonds shall be issued sx-
indebtedness and upon the surrender OF
warrants svidencing the same. sxclu-
sive of interest.
The State Treasurer ID hereby author
Ted and directed to exchange said
presented for exchange by Individual
Of .sa hs.a by the ns6
funds under his control issued in the
years above named. and the state
Treasurer shall register and keep the
Of the public school fund. and other in
vestment funds under his control"
uss Each snS as.6s s;sos 09tng
deposit In the ballot box a ticket
shall a Be prnsed or m1tten sa the
funding tho stat. indebtedness. and
the words Against the amendment to
Sec. 3 of Article xI of the Constitution
funding the State Indebtedness" and
shall indicate his approval or disap-
proval OF the same by placing cross
(x) opposite one or tho other Of said
groups Of words on. his ballot, The
votes cast for tho adoption or the re-
lection Of said amendment shasl bs
in the manner described by the laws Of
:r.presensa,ives II, s"f In 'Sdsf eodnefes3 V0'eS '0f
: Section 3: Upon ascertainlng that
has been adopted. the Governor. the
State Auditor. the State Treasurer. tho
Attorney General. and the Secretary of
Of the State Treasurer and organize
as = debt funding board by electing
one of its members president and an
sS oi sS bsar5S 81 5Sre Or fSs1qq .utsss
ea'sS oss ke Hs .as s9SseTeS ws
form os Tesrsa Of Of state in hs for
the faithful discharge of the duties re-
CURED by this Act. Said board is here
BY empowered to subpoena witnesses.
send for persons and papers. adminis-
ter oaths, and perform all other Acts
necessary to the speedy and proper dis
charRe OF It's OutleS. Inc treasurer
and Auditor shall furnish the necessary
clerical help required by the board.
Section 4. When said board has de-
termined the amount which should be
paid upon each warrant. it shall make
and file full and complete statement
of its findings and determination with
the Auditor of the State. and the de-
S!:liR}n g. li}nn.Y}f Yf a majority of the board shall
Section S. 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-
tion as amended in sum not exceed
thousand, four hundred and fifty-seven
dollars and ninety-four cents ($s73.-
457.94 and to exchange said bonds or
SO many thereof as may be necessary,
at par. for the amount OF the principal
due on any and all of said warrants,
and which are Offered in exchange by
the legal holders thereof. and unpaid
on April lst. 1909. upon surrender of
said warrants for cancellation. The
holders of any OF the said warrants
may pay into the State Treasury any