The La Jara chronicle., 1908-10-30
CONSTITUTIONAL AMENDMENT.

CONSTITUTIONAL AMENDMENT.
general election TO be held ON the third
day OF November. a. d. 1908. there will
the State of Colorado the question OF
amendlng the Constitution of said state
question is fond 1 noI House Bill No. S 4s5
which is. in words and figures. follow
ing. viz:
AN ACT
To Su limit to the Qualified Electors of
the State of Colorado an Amendment
to Section Three (3) of Article Eleven
lNll Of the Cons -itution OF the state
OF Colorado; and to Provide Tor the
Creation of a Bonded Indebtedness on
Behalf OF the State to the Amount OF
$s.3.i57.9i for the Purpose of Funding
All Outstanding Legal Warrants of
ss iSs7 STATE tat toE ana Prior TO to & the feas snd
Payment of Said Bonds.
Be IL Enacted by the General Assem-
ply 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. when ratified
by a majority OF those voting thereon.
tuition, to-wit:
Section Three 80 of Article Eleven
ND OF the Constitution of the State or
a. follows:
sec j. Ihe state shall not contract
any debt by loan in any form. except to
provide for casual deficiencies of rev
ehue; erect public buildings for use OF
the state. suppress insurrection. defend
lhe 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 one-fourth OF
miil 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
mill on each dollar OF said valuation,
until the valuation shall equal one nun
dred millions of dollars. and thereafter
thousand dollars, and the debt incurred
IN any ore year for the erection of pub
lie buildings, shall not exceed one half
hIlI 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. teNcept as
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 sald debt.
Provided. that. in addition to the
as above, the state may contract
debt by loan for liquidating or redeem
issued by the Auditor of state during
ne years 1887. 1888, 1883. 1892. 1898,
1884 and 1897; said debt by loan to be
evidenced by registered coupon inter-
est funding bonds to an amount not ex-
..eedinG eight hundred and seventy
three thousand four hundred and fifty
seven dollars and ninety-four cents
t$s73.45T.94) or so much thereof may
be necessary to cancel the State indebt-
edness herein named. Such funding
bonds shall be payable at the option of
INC state any time after ten years from
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
Treasurer, and shall bear interest from
April / 1903.
But no such bonds shall he issued ex-
Indebtedness and upon the surrender OF
warrants evidencing the same. eXclu-
sive of interest
The state Treasurer Is hereby author
iZ"d and directed to exchange said
presented for exchange by indiNsfuhi
holders or of warrants helu Ly 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
bonds in the name and for the benefit
of the public school FUND, and other in
vestment funds under his control"
Section z Each elector voting at
Tor or against the amendment. shall
deposit in the ballot box a ticket
words: For the amendment to Sec.
e. 2 OF Article n of the Constitution
the words Against the unendment to
Sec. of Article ri of the Constitution
funding the State Indebtedness, and
shall indicate his approval or disap-
proval of the same by placing cross
tN) ornositc one or the other of said
~roups Of words his ballot. Tho
votes cast for the adoption or the
lection of said amendment shall be
canvassed and the result determined
in the manner describeG by tho laws of
the state for the canvass of votes for
representatives in Congress
Section 3. Upon aseertaining that
has peen adopted. the Governor. the
State Auditor. the State Treasurer. the
Attorney General and the Secretary of
State shall meet together at the office
OF the State Treasurer and organize
as a debt funding board by electing
other secretary of said board Each
sors in office shall take and subscribe
an oath oeoffice and rile the same with
the Secretary, of State. in the usual
the faithful discharge of the duties re-
CURED by this Act. Said board is here
by empowered to subpoena Witnesses
ter oaths, and perform all other Acts
necessary to the speedy and proper dis
charge of its duties. The Treasurer
and Auditor shnll furnish the necessary
clerical help required by the board
Section 4 When said board has de-
paid upon each warrant 1T shall make
and file a full and complete statement
the Auditor Of the state. and i'Gi the "s" de
cision of a majority of the board shall
be final.
Section s. After the board herein
provided for has files its report and
findings with the Auditor of State tie
Governor. tho Treasurer and the Secre-
tary of State are hereby authorized to
issue the bonds OF the State of Colo
rado in accordance with the constitu-
tion amended in a sum not exceed
ing eight hundred and seventy three
Thousand. four hundred and ffty-seven
I..ll Ina afNF- -f.aNtR
457.9D and to exchange said bonds or
so many thereof may be necessary.