The Delta independent., 1908-10-09
CONSTITUTIONAL AMENDMENT.

CONSTITUTIONAL AMENDMENT.
Notice is hereby given that at the general
election to be held on the third day of Novem-
ber. A d. 1908, there will he submitted to the
qualified electors of the state of Colorado the
question of amending the Constitution of said
State.
found in House Bill y ;. 1875, which is, in words
and figures. following. viz:
AN ACT
To Submit TO the Qualified Electors of the State
of Colorado an Amendment Section Three
l3) of Article Eleven (XI) of the Constitu-
ton of the State of Colorado; and to Pro
vide for the Treat9m on o. ,a b1nuGu IN th
of Ss73.i5 9i for the Purpose of Funding
All Outstanding Legal Warrants OF the state
vide for the Issue and Payment of Said
Bonds.
Be it Enacted by the General Assembly OF
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 retec-
ton the following amendment to the Consti-
tuition of the state of Colorado, which, when
ratified by "A majority of those voting thereon,
shall be valid as II part of the Constitution,
to-wt:
section Three (s) of Article Eleven (XD of
the Constitution of the State of Colorado shall
be amended so as TO read as follows;
Sec 3. The State shall not contract any
debt by loan in any form. except TO provide
for casual deficiencies of revenue. erect pub
lie buildings for use OF the state suppress
III,
war, assist in defending the United states;
and the amount of debt contracted i'll any
one year to provide tor deficiencies Of revenue.
shall not exceed one-fourth OF mill on each
dollar of valuation of taxable property with
i'll the State, and the aggregate amount of
fourths Of mill on each dollar Of said val
uation until the valuation shall equal one
such debt shall not exceed one hundred
thousand dollars. and the debt incurred in
any one year for the erection of public build
ings shall not exceed one-halt mill on each
dollar OF said valuation; and the aggregate
amount of such debt shall never at any time
cept provided in section five of this artic!eJ,
and in all cases the valuation in his section
mentioned shall be that of the assessnnen lit last
preceding the creation of said debt
Provided, that IN addition to the amount
State may contract debt by loan for liquidat-
ing or redeeming the principal only OF the
ing the the years 1851, 1855 1889 1852, 1888 1894
and 1877; said debt by loan to be evidenced
py m amant not Executing eight % SuDdred
and seventy-three thousand four hundred and
fifty seven dollars and ninetyfour cents
(sSl3, ,457.yI) much thereof may be
necessary to cancel the State Indebtedness
herein named. such funding bonds shall be
payable at the opt on Of the State any time
aiIer ten years from their date but shall be
due and payable within fifteen years after
date, and shall be of such denominations as
shall bear interest at the rate of three per
cent per annum. interest payable semi-annually
ht tht Oulct VI the cthtc lTtdsufef VI ~ soue
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 /, 1909
But no such bonds shall be issued except in
exchange for ike amount OF Indebtedness
and upon the surrender OF warrants evidencing
the same. exclusive of interest,"
The State Treasurer is hereby authorized
and directed 10 exchange said bonds for equal
amounts of warrants presented for exchange
by individual holders or of warrants held by
Tie public school fund ana other investment
funds under his control issued in the years
above named, aud the State Treasurer shall
register and keep the bonds in the anne aud
for the benefit OF the public school fund. and
otner investme funds under his con.rol."
Section z Each elest9r &c xoyS y9'inE a at g sqeh i,
the amendment, shall deposit IN the ballot box
a ticket whereon shall be printed or written
Article XI of the Constitution funding the
State Indebtedness and the words Against
the amendment to Sec. OF Article Xl of the
Constitution funding the State Indebtedness,
and shall indicate his approval or disapproval
one OF H or ' the otter Of said groups OF words on
his ballot. The votes cast for the adoption or
the rejection of said amendment shall be can
vassed and the result determined III the
manner described by the laws of the State for
the canvass of votes for representatives in
Congress.
section 8. Upon ascertaning that said
amendment TO the Constitution has been
adopted, the Cove. nor, the state Auditor, the
the Secretary state shall meet together at
the office Of the STATE Treasurer and organize
hs utoe pOuiu ny elcttibg VI itr
members president and another secretary OF
said board. Each member of said board. or
their successors in once ,halI take and sub
scribe 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 10 subpoena
witnesses, send for persons aud papers, ad-
minister 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
tile board.
Section 4. When said board has determined
the amount which should be paid upon each
warrant it shall make and hle IL full and com
plete statement of its findings and determine
ton with the Auditor of the State and the
decision of n mojority of the board shall be
final.
Section b. After the board herein provided
for has nled its report and findings with the
and the Secretary Of State are hereby author
lied to issue the bonds of the State of Colo
RADIO in accordance with the constitution IA,
amended in "A sum not exceeding eight hun
dred and seventy three thousand, four hun
dred and hfty-seven dollars and ninety -fou
cents t$s73,4Ji.gi) and To exchange said bond
or SO many thereof may be necessary, a
par, for the amount of the principal due oil
any and all OF said warrants, and which ar,
offered in exchange by the legal holders thereof
and unpaid on April list, 1909, upon surrende
Of said warrants for cancellation. The holder
of any OF the said warrants may pay into tn
State Treasury any difference less than ON
hundred dollars 500 each necessary to pa
for the bonds 30 delivered to them respectively
The principal OF said bonds shall be du