The Elbert County tribune., 1908-10-22
coNsTIrurroNAL AMExYMrrr.

genera election to be held on the third
day OF November, A. u. 1905. there will
be submitted TO the qualified slscrors OF
the State OF Colorado the question Of
The authority for submitting such
I question is found In House Bill No 49s
which is. in words and figures. follow
To Submit to the Qualified Electors OF
the State OF Colorado an Amendment
e t2 Section r., Three g., q Article Eleven
Creation OF a Bonded Indebtedness on
ss7s.457.94 for the Purpose OF Funding
All Outstanding Legal Warrants of
the the State for and Prior 70 the Year
Payment of Said Bonds.
Be II Enacted by the General Assem-
bly, OF the State OF Colorado:
Section /. 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
amendment to the Constitution OF the
state OF Colorado. which. whsn ratified
syy ys, mstoritiy bs Of those voting theron.
tuition. to-wit:
Section Three (s) of Artists Eisvsn
Colorado shall be amended SO an TO read
az follows:
any debt by loan in any form. except to
provide for casual deficiencies Of rev.
enue, erect public buildings for use OF
the State. suppress insurrection. defend
tho State. or, in time of war. assist in
defending the United states; and the
year to provide for deficiencies OF rev
enue, shall not exceed one-fourth of
mill on each dollar of valuation OF tax
sble property within the State. and tho
aggregate amount of such debt shall NOT
at any time exceed three-fourths of
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
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
/ shall never at any time exceed the sum
OF fifty thousand dollars. lexcept as
and In all cases the valuation In this
section mentioned shall be that or the
assessment last preceding the creation
OF said debt.
Provided. that. in addition to the
amount OF debt that may be incurred.
debt by loan for liquidating or redeem
ing the principal only OF the warrants
ne yea4s by h ss7 1855 ss & ss sS
1894 and 1897; said debt by loan to be
evidenced by registered coupon inter
ceeding eight hundred and seventy
three thousand four hundred and fifty
ssseR sssa d9iiars or snd an nhnetyeopr eents
be necessary to cancel the State indebt-
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
State Treasurer may deem best. The
bonds shall bear interest at the rate of
able semi-annually at the office of the
City of New York. state of New York.
payable at the office OF the State
Treasurer. and shall bear interest from
But no such bonds shall be issued ex-
cept In exchange for like amount of
Indebtedness and upon the surrender of
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
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 the State
Treasurer shall register and keep the
vestment funds under his nontroir
such election and desIrous OF voting
| for or against the amendment. shall
deposit In the ballot box ticket
words: For the amendment to Sec.
Of Article X of the Constitution
the words Against the amendment to
Sec. OF Article XII of the Constitution
funding the. State indebtedness" and
shafi Indicate his approval or disap-
provaI of the same by placing cross
tX) opposite one or the other OF said
votes cast for the adoption or the re-
lection of said amendment shall be
canyassed and the result determined
the State for the canvass of votes for
representatives in Congress.
Section 3, Upon ascertaining that
Irnl 1x..a n IA ff.<x.
has been adopted. the Governor. the
State Auditor. the state Treasurer. the
State shall meet together at the office
OF the State Treasurer and organize
as a debt funding board by eiecting
other secretary of said board Each
member of said board. or their success
sors in office shall take and subscribe
the Secretary. of state in the usual
form required OF State officers. for
auired by this Act said board is here
by empowered to subpoena witnesses.
send i1p persons seafor ana papers ,he adminls
necessary to the. speedy and proper dis
charge of its duties. The 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
and file full and complete statement
OF its findings and determination with
! the Auditor of the State. and the de-
eision 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-
tion as amended in sum not exceed
ing eight hundred and seventy three
thousand. four hundred and fifty y-seven
dollars and ninety-four cents ($S73,-
45794) 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
and which are offered In exchange by
the legal holders thereof and unpaid
on april LIST. 1909. upon surrender OF
said warrants for cancellation The
holders OF any OF the said warrants
may pay into the State Treasury any
difference less than one hundred dol