Gilpin observer., 1908-10-29
Ooxs11ruroNAL AMENpMENr.

00NDzZTUTTONAL AMENDMENT.
Notice is hereby given that at the
general election to be held on the third
be submitted to the qualified electors of
the State Of Colorado the question Of
The authority for submitting such
which IL. In words and figures. follow
To Submit to the Qualified Electors of
the State of Colorado an Amendment
& of the Arsief Of the stase
of COLORADO; and to Provide for the
3s73.457.94 for the Purpose of Funding
Az Outstanding Legal Warrants OF
1897. and to Provide for the Issue and
Payment of Said Bonds.
Be II ~ EnaSted act a.y by the ne5a GeneIai Assem-
Section /. There shall be submitted to
the qualified electors of the State Of
of members of the General Assembly for
their approval or rejec ection the following
amendment. to the Constitution Of the
by majority Of those voting thereon.
shall be valid as a part of the Consti-
Section Three 90 of Article Eleven
Ix) of the Constitution of the State Of
Colorado shall be amended 80 as to read
Sec. 8. The State shall not contract
any debt by loan in any form. except to
enue. erect public buildings for use of
the State. suppress insurrection. defend
the state. or. in time Of war. assist In
. amount of debt contracted in any one
year to provide for Deficiencies Of rev
mill on each dollar Of valuation of tax
able property within the State. and tho
aggregate amount of such debt shall not
mill on each dollar of said valuation
until the valuation shall equal one hun
dred mill'ons of dollars, and thereafter
thousand dollars and the debt incurred
In any one year for the erection of pub
mill on each dollar of said valuation;
and the aggregate amount of such debt
a of fifty thousand H dofiars Except aG aa
provided in section five of this article).
and In all cases the valuation In this
assessment last preceding the creation
OF said 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
the years 1887. 1888, 1889. 1892. 1893.
1924 and 1897; said debt by loan ,a to be
est funding bonds to an amount not ex-
ceeding eight hundred and seventy
seven dollars and ninety-four cents
($S73. 3.45T.94) or SO much thereof as may
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 ahall 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
Clty of New York State of New YORK,
The principal of said bonds shall be
payable at the office Of the state state
April i. 1908.
But no such bonds shall be issued ex-
aad
warrants evidencing the same. exclu-
sive OF interest.
The State Treasurer is hereby author.
lied and directed to exchange said
bonds for equal amounts of warrants
o. op oSr sed Y by the puS
lie school fund and other Investment
funds under his control issued in the
Treasurer shall register and keep the
bonds in the name and for the benefit
vestment W tim funds under his control"
Section 2. Each .elector voting at
such election and desirous of voting
deposit In the ballot box ticket
whereon shall be printed or written the
ords ihe OF smehdmen, ,h 70 SeS
funding the State Indebtedness" and
the words Against the amendment to
funding the State Indebtedness" and
ahall indicate his approval or disap-
proval OF the same by placing cross
S@roups @ Of words on his ballot The
votes cast for the adoption or the re-
lection of said amendment shall be
canvassed and the result determined
in the manner described by the laws OF
the State for the canvass OF votes for
representatives in Congress.
Section 8. Upon ascertaining that
said amendment to the Constitution
has been adopted. the Governor. the
| Attorney General. and the Secretary of
State shall meet together at the office
az a debt funding board by eiecting
! one of it's members president and an
other secretary of said board. Each
sors in office shall take and subscribe
an oath OF office and file the same with
tne Of sase IN nffnsrs the usga So
the faithful discharge Of the duties re-
quired by this Act. said board is here
by empowered to subpoena witnesses.
send for persons and papers, admins
' ter oaths. and perform all other Acts
necessary to the speedy and and proper dis
| 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
| paid upon each warrant. 1t shall make
and file full and complete statement
| OF its findings and determination with
the Auditor of the state. and the de-
cision of n majority of the board shall
! be final.
Section s. After the board herein
| provided for has filed its report and
findings with the Auditor of state. tho
| Governor. the Treasurer. and the Score
| tary of State are hereby authorized to
issue the bonds OF the state of Colo
4 RADIO In accordance with the constitu-
| tion as amended In "A sum not exceed
| Ing eight hundred and seventy-three
| thousand. four hundred and fifty-seven
! dollars and ninety-four cer', tsSTS.-
| <579D and to exchange said bonds or
30 many thereof as may be necessary.
| at par for the amount of the principal
due on any and all of said warrants.