The state herald., 1908-10-23
CONVENTIONAL AMENDMENT.

bchct a. eicCtlOn TO be neld on the thlru
day of November A. d. 1908. there viii
oe submitted to the qualified electorS of
tne otate or Colorado the question of
amending the Constitution of said State.
InS authority for submitting such
question is found in House Bill No. 495.
whicn Is, IN words and figures. follow
AN ACT
To Submit to the Qualified Electors of
the state OF Colorado an Amendment
TO section Three (3) OF Article Eleven
lXl9 Of the Constitution of the State
OF colorado: and to Provide for the
creation of Bonded indebtedness on
behalf of the State to the Amount of
$SI34b1.94 for the Purpose of Funding
AZ outstanding Legal Warrants of
the State for and Prior to the Year
1897. and 10 Provide for the Issue and
Payment of Said Bonds
BE II Enacted by the General Assem-
piy OF the State of Colorado:
section |. There shall be submitted to
the qunliiied electors of the State OF
CoIorauo at the next general election
OF members of the General Assembly for
their approval or rejection the following
amendment to the Constitution of the
state of Colorado. which, when ratified
py majority OF those voting thereon.
snail be valid as a part of the Consti-
tuition, to-wit.
Section Three CD of Article Eleven
ND OF the Constitution of the State OF
Colorado shall be amended SO as to read
as follows:
Sec, 3. The State shall not contract
eay DEBT by loan IN any form, except to
provide ior casual deficiencies of rev.
enue; erect public buildings for use of
the state, 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 for deficiencies OF rev
enue, shall not exceed onc-fourth of
miil on each dollar OF valuation OF tax
aDie property within the state, ana the
aggregate amount of such debt shall not
Ut any time exceed thTee-tOuTthS OF "A
mill on each dollar OF said valuation,
until the valuation shall equal one hum
dred m'lilons of dollars and thereafter
such debt shall not exceed one lsindred
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
snail never at any time exceed the sum
OF iiity thousand dollars, Except as
provided in section five Of this articlep.
and In all cases the valuation in this
section mentioned shall be that of the
assessment last preceding the creation
of SAID debt
Provided. that. In addition 10 the
amount OF debt that may lie incurred.
as above, the state may contract
debt by loan for liquidating or redeem
Ing the principal only OF the warrants
issued by the Auditor OF State during
the years 1897. 1883. 1889, 1892, 1898,
1894 and 1897; said debt by loan to be
evidenced by registered coupon Inter
est funding bonds to an amount not cN-
cecding eight hundred and seventy
three thousand four hundred and fifty
seven dollars aud ninety-four Tents
tSS1S45'.yil or so much thereof as may
be necessary to cancel the state ihdcbt-
edness herein named. Such funding
bonds shall be payable Mt the option OF
theSState any time after ten years from
their date but shall be due aud puya-
BILE within fifteen years after date. and
shall be OF such denominations as tho
state Treasurer may deem best. Tho
bonds shall bear interest at the rate OF
three per cent per annum. interest pay
able semi-nnnually at the office of the
state Treasurer or at slmc place In 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. 1903
/ But no such bonds shall be issued cx-
cept In exchange for a liIo amount Of
Indebtedness and upon the surrender OF
warrants evidenclng the same. exclu-
slvc Of Interest.
The State Treasurer is hereby author
lied aud directed to exchange said
bonds for equal amounts OF warrants
presented for exchange by Individual
holders or OF warrants held by the pub
lie school FUND and other Investment
funds under his control issued In the
years above named, and tho State
Treasurer shall register and keep the
bonds In the name and for the bonens
of the public school fund, and other In
vertmcnt funds under his control"
Section =. Each olee'or voting nt
rltn elEttlnn ana utNlfnuN oil NOtlnK
for or against the amendment. shall
deposit In the ballot box a ticket
whcreon shall be printed or written tho
words: For the amendment 10 Sec.
. OF Article NJ OF the Constitution
funding the State Indebtedness, and
the words Against the amendment to
Sec. ) OF Article Ni OF the Constitution
/ fynding the State indebtedness, and
shall irJicnte his approval or dlHap-
prevail of the same by placing cross
tNb onnosltc one or the other OF said
"roups of words ON his ballot The
votes east for the adoption or the re-
lection OF said amendment shall be
canvassed and the result determined
! In the manner described by the laws Of
the State for the canvass of votes for
representatives. In Congress
Section J. Upon aHcertnining that
s1id amendment 10 tho Constitution
has been adopted the Governor. the
Attorney Genoral and the Secretary OF
state shall meet together at IA" office
- a debt funding board by eleeting
one OF itH members president and nn-
other secretary Of said board, Each
member Of said board, or their success
s0rs Ia office shall Inks ami subscribe
nm oath of office and fllo the same with
the Secretary Of state, Ia IN. usual
fpru.a required OF State officers. for
the faithful discharge ol th" duties re-
quirsd by thi. Act said board Il here
by empowered 10 subpoena witnesses.
send for perHons aud purers. ndmiuis'
. wv aAAhNFH ANN HfNA'ANN NAA RhNff avs
necessary To the speedy and proper dis.
charge of It's duties The Trra surer
aud Auditor shall furnish the necessary
clerical help required by the board.
section 4 when said board has de-
tHrminrd tho amount which should be
pfid upon each warrant. u shall make
and fil. q full and complete statement
NJ It's findings and determination with
tho Auditor of the state, and the de-
cision Of "a majority Of the board shall
be- final.
section 0, After the board hsrein
provided for has filrd itH foFsFt and
findings with the Auditor Of NtHir the
Governor the Treasurer. ana the Rerrs-
ttry Of state are hereby authorized 60
issue the bonds Of the State OF Cole
fido IN accordance win tho ronHtttu-
ton ~ amended In IA sum not exceed
Ink eight hundred and seventy. three
thousand. four hundred ana fifiysHrYsn
dollars and ntnetyafnur rFntH tfA1T.s
$3.50 ana 10 exchange said bonds or
20 many thereof nH mag Dc necessary.
It par for the amount nf tho principal
due On any ana all ~ Hnid warrants
aud which are offered In exchange by
The lUrht holders thereof and unpaid
nn April lat, 1903 upnf surrender Of
aid warrants for cancellation The
holders of any ~ ne Htii WHrfanta