The Delta independent., 1908-10-30
CONSTITUTIONAL AMENDMENT.

CONSTITUTIONAL AMENDMENT.
Notice is hereby given that at the general
elecii N to be held on the third day of Novem-
Der. A d. 1905. there will he submitted to the
qualified electors Of the state OF Colorado the
question of amending the Constitutio of said
State.
The authority for submitting such question is
fonnd in House Bill NJ. 1876, 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
(3i of Article Eleven (NIJ of the Constitu-
vide for the Creation of Bonded Indebted
hess on Behalf OF the State to the Amount
of Ss73.i57 - for the Purpose of Funding
All Outstanding Legal Warrants of the State
foi and Prior to the Year 1897. and to Pro-
vide for the Issue and Payment of said
Bonds.
the state of Co orado:
Section l. There shall be submitted to the
q aliied electors of the State of Colorado at
the next general election of members of the
General Assembly for their approval reiee-
ton the following amendment TO the Consti-
tuition of the State of Colorado. which, when
ratined by majority of those voting thereon,
shall be valid as part of the Constitution,
to-wit:
the Constitution of the State of Colorado shall
be amended so as to read as follows:
Sec. g. The State shall not contract any
debt by loan in any form. except to provide
Cor casual deficiencies of revenue. erect pub
lie buildings for use of the state, suppress
war, assist in defending the United States;
and The amount of debt contracted in any
year to provide for deficiencies of revenue.
shall not exceed one-fourth of mill on each
dollar of valuation of taxable property with
in the State, and the aggregate amount of
fourths of a mill on each dollar of said val
nation until the valuation shall equal one
such debt shall not exceed one hundred
thou and dollars. and the debt incurred in
any one year for the erection Of public build
ings. shall not exceed one-half mill on each
dollar of said valuation; and the aggregate
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 article,
ano in all cases the valuation in his section
ba shs Ss ,haf at Si iae eb
of debt that may be incurred, as above, the
State may contract debt by loan for liquidat-
warrants issued by the Auditor Of State dur, iga,
and 1877; said debt by loan to be evidenced
by registered coupon interest funding bonds
and az IL seventSthree % eot rhoussnd four Hundred and
fifty seven dollars and ninety-four cents
us.s,is7.9D or so much thereof as may be
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 aud payable within fifteen years after
date, aud shall be of such denominations as
the state Treasurer may deem best. The bonds
snail Dear interest at tnc rhtt oi tHret per
cent per annum, interest payable semi-annually
at he Office 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 l. 1853
But no such bonds shall be issued except in
exchange for a like amount of Indebtedness
and upon the surrender OF warrants evidencing
the same exclusive of interest.
he State Treasurer is hereby authorized
and directed to exchange said bonds for equal
amounts Of warrants presented for exchange
n
The public school fund and other investment
funds under, his control issued in the years
register and keep the bonds in the anne and
Tor the benefit Of the public = school m fund and
Section 2. Each elector voting at such
election aud desirous of voting for or ag inst
the amendment, shall deposit IN the ballot box
the words: For the amendment to Sec. of
Article XI of the Constitution funding the
State indebtedness and the words Against
the amendment 10 Sec. 3 of Article XI of the
Constitution funding the State Indebtedness,
and shall indicate his approval or disapproval
of the same by placing tX) opposite
one or or the 18th other TOT oi said groups OF words on
the rejection Of said amendment shall be can
vassed aud 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 ascertaining that said
amendment to the Constitution has been
adopted the Cove nor, the state Auditor the
state treasurer, the Attorney General, and
the Secretary OF State shall meet together at
the office Of the State Treasurer and organize
debt funding board by electiDg 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 oath Of Office and file the same 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.
Said board Is hereby empowered TO subpoena
witnesses, send for persons and papers, ad-
ministcr 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. 1t shall make and file a full and com
plete statement of its findings and determine
ton with the Auditor OF the State, and the
decision of a nojority of the board shall be
final.
section 3. After the board herein provided
for has iled its report and findings with the
Auditor sf State. the Governor. the Treasurer,
and the Secretary of State are hereby author
lied to issue the bonds OF the State OF Colo
RADIO in accordance with the constitution us
amended in a sum not exceeding eight hun
dred and seventy-three thousand, four hum
dred and ifty-seven dollars and ninety-four
cents t$63.f57.eD and to exchange said bonds
many thereof 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 ist. 1902. upon surrender
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 honds 30 delivered to them respectively
The principal Of said bonds shall be dus