The Lamar register., 1908-10-28

be submitted to the qhaliied 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 No. 4St.
which is. In words and figures. follow.
Ing. viz:
To Submit to the Qualified Electors of
the State OF Colorado an Amendment
e Section Three i 81 Arat ~ lei Es s,.sa
% sae sns 10 Pnoy IL me Tor ths
Behalf Of the State to the Amount Of
All outstandinE Legal Warrants Of
The STATE doF nd PsaSr to tns n
bly, Of the state Of Colorado:
Colorado at the next general election
her 81 On On; II.
amendment to the Constitution Of the
state Of Which o whsn
shall be valid As = part Of the consti-
tuition. to-wit:
(XD of the Constitution Of the State Of
Colorado shall be amended ." as to read
sec. 8. The State shall not contract
any debt by loan In any form. except to
provide for casual deficiencies of rev.
the State, suppress insurrsction. defend
the State, or. in time OF war. assist In
amonat 81 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
mill on each dollar OF said valuation.
until the valuation shall equal one hum
dred millions Of dollars. and thereaitef
such debt shall not exceed one hundred
in any one year TOR the erection of pub.
min ld on sscs dollar moi Of said v.iastion
and the axgregate amount OF s1 zen o a,,1,,
shall never at any time ,s e1csse aI enc su ~
and in all cases the valuation In this
section mentioned shall be that of the
assessment last preceding the creation
Provided. that. in addition to the
above. the State may contract. .
debt by loan for liauidating or redesm-
issued by the Auditor Of State during
the. years 1887. isss, 1859. 1892. 1850.
eSideaesd BY reeistersd coupon inter
est funding bonds to an amount not *
eeeding eight hundred and seventy
(ss7s.457.sD or so much thereof as may
edness herein named. Such funding
bonds shall be payable at the option of
any ft Ss d:n na pays
shall be OF such denominations as the
bonds shall bear Interest at the rate Of
three per cent per annum. interest pay
able semi annually at the Office Of ths
The principal of said bonds shall be
treasurer, and shall bear interest from
but no such bonds ahall be issued ex-
cant in exchanRa for n like amount of
indebtedness and upon the surrender OF
warrants evidsncing the same. exclu-
The State Treasurer IL hereby author:
lied and directed to exchange said
p pDaas for e s.chanss BY Individual
holders or Of warrant. held By the pub ,,,
Tressursr shall register and Keep the
Of oSn n. I public .ehool fund, and etSsr in.
vestment funds under his control"
ssc,Gn Each .ss ss. ss. Ses yss,n a.
deposit IN the ballot box !. ticket
words: For the amendment 70 Sec.
Of ARTICLE *! of The SEn.sitnt a01
tSa Mord ih: A..is., the 70
Sec. : of Article xI of the Constitution
funding the state indsbtsdness." and
provai Of the same BY placing . eros:
(x) opposite one or the other of said
vo 9sp, east for 10Th II. On .doption or tn. re-
lection OF said amendment shael be
and sas 1s;Ilt DC, dss;r%,neS
representatives In Congress.
Section = Upon a:e.rtsining that
state Auditor. the State Treasurer. the
.S. ms.s Hs ss oie.
as a debt funding board By si.etins
%enb.r Ct ..iz board or ss.iH .uee:s-
s s9rs o.sh e 81 Sff,s. ana ri. the sam: Wiz
f sh. sat-. In n,f iss u'S Sor
CURED by this Act said board Is hsrs-
by empowered 70 subpoena witnesses.
ter oaths. and perform al other Acts
necessary to the speedy md proper dis
and ksd II shall furnish Il. neesssafs
help By b shs S9 S.s
termined the amount which should be
and file full and complete statement
* q e; ne sssse .ns n. d
cision Of q majority Of the board shall
Section s. After the board herein
findings with the Auditor Of State. the
Governor. the Treasurer. and the Sscre-
tary of State are hereby authorised to
/ issue the bonds Of the State of Colo
RADIO in accordance with the constitu-
tion as amended in q sum not exceed
ing eight hundred and seventy three
thousand, four hundred and fifty-seven
dollars and ninety -four cents tss7s.-
SO many thereof a. may be necessary;
| ut par. for the amount of the principal
due on any and all Of said variants
| and which are offered in exchange by
| the legal holders thereof and unpaid
| on April LIST. 1908. upon surrender of
said warrants for cancellation. Tho
| holders of any Of the said warrants
may pay into the state Treasury any
| difference less than one hundred dol
| lars (s1oo) each, necessary to pay for
the bonds SO delivered to them re-
| spectively.
| The principal of said bonds shall be
| due and payable in fifteen years from
| their date. with the option of redemp-
| tion on the part Of the State at par and
| accrued interest. In the order Of their
| number. at any time after ten years
from their date. At the office OF the
| RADIO. Said bonds shall be numbered
consscutivsly. beginning at number one
| and shall be registered IN the office of
| the Auditor Of State; and his certi-
| ficate of such registration. attested
| by the seal of his office affixed to each
bond. shall be evidence of their legal