The Delta independent., 1908-10-23
CONSTITUTIONAL AMENDMENT.

CONSTITUTIONAL AMENDMENT.
Notice is hereby given that at the general
election to be held on the third day of Novem-
qualified electors of the state of Colorado the
que tion of amending the Constitution of said
State.
found in House Bill n }. 1876, which is in words
and figures following, viz:
AN ACT
To Submit TO the Qualified Electors of the State
of Colorado Amendment to Section Three
t3l of Article Eleven (ND of the Constitu-
tinn of the State of Colorado; and to Pro-
vide for the Creation Of Bonded Indebted.
of Ss73.i57 ~ fer the Purpose of Funding
All Outstanding Legal Warrants of the State
for and Prior TO the Year 1897 and to Pro
vide for the Issue and Payment of said
Bonds.
Be it Enacted by the General Assembly of
Section l. There shall he submitted to the
q alifed electors of the State of Colorado at
General Assembly for their approval or reiec-
ton the following amendment to the Consti-
tuition of the State of Colorado. which. when
ratified by majority of those voting thereon
shall be valid as a part of the Constitution,
to-wit:
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. 8. 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
iusurrectOn, Qefen0 tne Stale, OF, III tlne OI
war, assist in defending the United States;
AMI the amount of debt contracted in any
one year to provide tor deficiencies Of revenue,
dollar of valuation of taxable property with
in the State. and the aggregate amount of
fourtbs S Of a mill On each dollar Of said val
ua,ion until the valuation shall equal one
such such debt shall not exceed one hundred
thousand dollars. and the debt incurred in
ings. shall not exceed one-half mill on each
dollar of said valuations; and the aggregate
amount of such debt shall never at any time
exceed the sum of fifty thousand dollars, lex
cept provided in section five OF this article,
,,,,innad 10 shall he tbat Of The asse.sme nj In 4
preceding the creation OF said debt.
rroyided that, IN addition TO the beam amount unit
State may contract debt by loan for liquidat-
ing redeemiDg the principal only of the
and and 1881; said debt by loan to be evidenced
to an amount not exceeding eight hundred
aud seventy-three thousand four hundred and
I.s's,i57.sp or 50 much thereof as, may be
necessary to cancel the State Indebtedness
peysn!e na at the option s Of the state any time
after ten years from their date but shall be
due and payable within fifteen years after
daie, 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 payable semiannually n
place in the city of New York State of New
YORK The principal of said bonds shall be
anu shall bear interest from April 1, 1879
But such bonds shall be issued except in
exchange for a like amount OF indebtedness
and upon the surrender OF warrants evidencing
the -aine, exclusive of interest
The State Treasurer is hereby authorized
and directed TO exchange said bonds for equal
amounts of warrants presented for exchange
the public school fund ana other investment
funds under his control issued in the years
register and keep the bonds in the anne and
for tne benefit of the public school fund. and
otner lnvestme t funds under his con .rol
Section g Each eector voting at such
election AID desirous of voting for or ag ,inst
the amendment, shall deposit in the ballot box
the words: For the amendment to Sec. of
Article XI of the Constitution funding the
the amend%ent TO Sen o OF Of Aticie XII q the
Constitution funding the State indebtedness,
0, the same BY placing cross txj opposite
Sne or the other Of said groups Of ,n,,d words on
lhs eeon Of sad be
vassei and the result determined in the
manner described by the laws of the State for
Congress.
section 3. Upon ascertaining that said
adopted, the Governor, the State Auditor the
State Treasurer, the Attorney General, and
the oce of the state % and erssnae
as debt funding board by electing one of III
members president and another secretary O
sald board. Each member of said board. oi
their successors in office ,hall take and sub
scribe an oath Of Office and file the same with
quired Of State officers, for the faithful dis
charge of the duties required by this Act
Said board is hereby empowered TO subpoenf
Witnesses send for persons and papers, ad
munster oaths, and perform all other Act,
necessary to the speedy and proper discharge
of It's duties The Treasurer and Auditor shal
furnish the necessary clerical help required by
the board.
Section 4. When said board has determined
warrant, 1t shall make and file full and com
plete statement of its findings and determine
tion with the Auditor of the State, and tn,
decision OF "a mojority of the board shall b
final.
section 5. After the board herein providet
for has Hled its report and findings with tn
auditor Of State, the Governor. the Treasurer
and the Secretary Of State hereby author
lied to issue the bonds of State of Colo
rado in accordance with the constitution a
amended in sum not exceeding eight hun
drei and ffty-seven dollars and ninety-fou
cents t$s73,i579D and to exchange said bond
or so many thereof may be necessary, a
par, for the amount of the principal due o
any and all of said warrants, and which ar
offered in exchange by the legal holders thereof
and unpaid on April list, 1903, 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 600 each. necessary 70 pa