The La Jara chronicle., 1908-10-23
.coNsrrrurioNxL' ''l,,.i. 'AMnNDMENT. ~

day of November, A. D. 1903, there will
the state of Colorado the question OF
amending the Constitution of said State.
Ihe authority for submitting such
question is found in House Bill No. 495,
Which Is, in words and figures. follow
ing. viz:
AN ACT
To Submit to the Qualified Electors Of
the State of Colorado an Amendment
to Section Three 90 of Article Eleven
tXll Of the Constitution of the state
creation of Il Bonded Indebtedness on
Behalf of the State to the Amount of
ss.S,i5..94 for the Purpose of Funding
All Outstanding Legal Warrants of
ttse ne state for and Prior to the Year
Payment of Said Bonds
Be Il Enacted by the General Assem-
bly, of the State of Colorado:
Section J.. There shall be submitted to
Colorado 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
by a majority of those voting thereon.
shall be valid as = part of the Consti-
tuition, to-wit:
,I Section Three {sl of Article Eleven
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 rev.
enue; erect public buildings for use of
| 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.
Gnue. shall not exceed one-fourth of
mill on each dollar of valuation of tax
able property within the State, and tho
| aggregate amount of such debt shall not
at any time exceed three-fourths of
mil on each dollar of said valuation.
until the valuation shall equal one hum
dred millions of dollars. and thereafter
such debt shall not exceed one hundred
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
shall never at any time exceed the sum
provided in section five of this article).
and in all cases the valuation in this
section mentioned shall be that of the
assessment last preceding the creation
OF SAID debt.
amount of debt that may be incurred.
as above, the state may contract
| debt by loan for liquidating redeem
issued by the Auditor of state during
the years 1887. 1883, 1883. 1892. 1898.
| evidenced by registered coupon inter-
| esd funding bonds to an amount not ex-
ceedlng eight hundred and seventy
three thousand four hundred and fifty
| seven dollars and ninety-four cents
| CsS13.457.9I or SO much thereof as may
edness herein named. Such funding
| bonds shall be payable at the option of
tHe St'lte dny time aItef ten years rom
their date but shall be due and paya.
| BILE within fifteen years after date. and
shall be of such denominations as the
state Treasurer may deem best. The
| bonds shall bear interest at the rate of
three per cent per annum. interest pay
able semi annually at the office of the
state Treasurer or at some 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
But no such bonds shall he issued ex-
| cent in exchange for "a like amount Of
| Indebtedness and upon the surrender of
| warrants evidenctnS the same, eNclu-
sive of interest.
The State Treasurer is hereby author
| lied and directed to exchange said
| bonds for equal amounts of wnrr!nis
presented for exchange by lndivsfual
holders or of warrants held by the pub
| funds under his control issued in the
| Treasurer shall register and keep the
Of the public school FUND, and other in
vestment funds under. his control"
| such election and desirous OF voting
| for or against the amendment, shall
whereon shall be printed Or written the
| words: For the amendment to Sec.
s0dn ot Article Xi of ,he Gonstitntion
| the words Against the amendment to
Sec. of Article NI of the Constitution
| shall indicate his approval or disup-
| proval of the same by placing IA cross
| tN) onnosite one or the other of said
rroups of words on his ballot. The
votes cast for the adoption or the re-
lection of said amendment shall he
canvassed and the result determined
| In the manner describeT by tho laws of
the State for the canvass of votes for
representatives in Congress
Section 3. Upon asccrtaining that
has peen adopted. the ,Govcrnor the
| State Auditor. the state Treasurer. the
| Attorney General, and the Secretary of
| State shall meet together at the office
as a debt funding board by eIecting
one of its members president and am
member of said board. or their success
sors in office stslll take and subscribe
an oath osoffice and file the same with
form required of State officers. for
the faithful discharge Of the duties re-
CURED by this Act. said board is here
send for persons and papers. adminis-
ter oaths, and perform all other Acts
| charge of it's duties. The Treasurer
and Auditor shall furnish the necessary
| clerical help required by the board.
Section 4. When said board has de-
termiped the amount which should be
paid upon each warrant. it shall make
of its findings and determination with
the Auditor of the State. and the de-
cision of a majority OF the board shall
Section s.. After the board herein
provided for has filen its report and
findings with the Auditor of state tie
Governor. the Treasurer. and the Score
tary of State are hereby authorized to
issue the bonds OF the State of Colo
tion as amended in a sum not exceed
ing eight hundred and seventy three
thousand. four hundred and fifty-seven
dollars and ninety-four cents (ss73.-
4579D and to exchange said bonds or
so many thereof as 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 1st. 1909. upon surrender of
said warrants for cancellation. The
holders of any of the said warrants
may pay into the State TrensurY my