The Idaho Springs siftings-news., 1908-10-17
CoNsTarUTIoNAL AMENDMENr

Notice is hereby given that at IL,
general election to be held on the thir,,
day of November. A. D. 1903. there viii
the State Of Colorado the question of
amending the Constitution OF said State
The authority for submitting such
question is found in House Bill No ass
.shie: 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 49, of Article Eleven
tXiA Of tn. Constitution OF the State
of Colorado: and to Provide for the
Creation OF a Bonded Indebtedness on
Behalf of the State 10 the Amount of
All Outstanding Legal Warrants OF
the State for and Prior to the Year
1897. and to Provide for the Issue and
Payment of said bonds
FL. il Enacted by the General Assem-
bly, Of the state of Colorado:
Section / There snail lie submitted TO
the qualified electors Of the State OF
Colorado at the next general election
OF members OF the c. neral Assembly for
amendment to the Constitution of the
Stat OF Colorado. which. when ratified
by 4 majority OF those voting thereon.
shall be valid part of the Consti-
tuition, to-wit;
Section Three -, Of Article Eleren
tXIy of the Constitution of the State Of
Colorado shall be amended SO as TO read
IA follows;
.-s..c. } The State shall not contract
provide. FOR casual deficiencies Of rev
cnue. erect public buildings for use OF
nc state. suppress ins1rrection. defend
ra, STATE. or. IN time OF war. assist in
GefendIng the United States, and the
a AMOUNT Of debt contracted In any one
year to provide for deficiencies of rev
enue. shall not exceed one-fourth OF a
mill on each dollar Of valuat tion of tax
able property within the STATE. and the
-sSreSate amount of such debt shall not
1t any time exceed three fourth OF
mil on each dollar of said valuation,
urtii the valuation snail equal yDne nun
ured millions of dollars, and thereafter
"a. dc br shall not exceed one hundred
thousand dollars and the debt incurred
in any one year for the erection OF pub
IIr buildings. shall not exceed one-h haIf
mill on each dollar OF said valuation:
ana the aggregate amount OF such debt
shall never at any time exceed the sum
II fifty thousand dollars. except as
isIeSi In section fiv. OF this article).
and in all cases the valuation in this
se. .ion mentioned shall be that OF the
.,7"ss ment last preceding the creation
OF SAID debt.
Provided. that, In addition to the
as above. the state may contract.
debt by loan for Itauidating or redeem
ing ire principal only OF the warrants
the years 1887. 1883. 1883. 1892. 1899.
1898 and 1897; said debt by loan to be
=. .vid.nced by registered coupon inter-
ext funding bonds to al amount not sx-
eight hundred and seventy
three thousand four huhdfed and fifty
tss4S, S,i5-21 or 50 much thereof as may
be necessary to cancel the State indebt-
edness herein named. such funding
bonds shall be payabi. at the option OF
thr STATE any time after ten years from
their date. but shall be due and paya-
LIe wlthin fifteen years after date. and
shall lie Of such d. nominations as the
state Treasurer may deem best. The
bonds shall bear interest at the rate of
t hr.. per cent per ahnum interest pay
4 ble semi i-annUally nj 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
pa able at the office OF the State
Treasurer. and shall bear interest from
spril ! 1909.
cent in exchange for a like amount OF
indebtedness and upon the surrender OF
warrants evideneing the same. exclu-
sive of interest.
The State Treasurer is hereby author
lied and directed to exchange said
bonds for equal amounts of warrants
holders or of warrants held by the pub
lie school fund and other Investment
Years above named and the state
/ ressurer shall register and keep the
bonds in the name and for the benefit
vestmrnt funds under his control
Section 2. Each elector voting at
such election and desirous of voting |
deposit in the ballot box ticket |
shall be printed or written the |
3 OF Article XII OF the Constitution
the state Indebtedness, and !
the words Against the amendm.ut 10 |
funding the state Indebtedness ard |
shall Indicate his approval or dts4.p-
proval of the same by placing a cross |
-roups OF words on his ballot. The |
jeetion of ' said aalkt SILL L.
ssrvassed and the result 'i.Termincd |
IN the manner described by In. laws OF |
he state for the canvass OF votes Tor
in Congress.
section 3. Upon ascertainins ,ga. hat
has been adopted. the Governor. the
state Auditor the state Treasurer, lie
Attorney General. and the Secretary Of
OF the State Treasurer and organize
as a debt funding board by e,estins |
o;hsr secretary of said board. ch
member OF said board. or their success
s PRS in office shall take and subscribe
ar oath Of office sHd ttle 'he .lme Win
form required of State officers for
the faithful DISCHARGE Of the duties re
6y empowered to subpoena Witnesses.
send for persons and papers, adrnirts-
ter oaths, and perform all other Acts
necessary to the speedy and proper dis
charge OF its duties. The Treasurer |
and Auditor shall furnish the ne necessary
help sal, hy basr1 .ae h9ara hn de-
ternined the amount which should be |
pal id upon each warrant. IL shall make |
and file a full and complete statement |
of its findings and determination with |
the Auditor of the State. and the de- |
cision Of a majority of the board shall |
hc final.
Section s. After the board herein |
provided for has filed its report and |
with the Auditor Of state, the |
Governor. the Treasurer. and the score |
tary of State are hereby authorized to |
Issue the bonds of the State of Colo |
raio in accordance with the constitu- |
I ION as amended In sum not exceed
ing eight hundred and seventy three |
thousand. four hundred and fifty seven |
dollars and ninety-four certs t$s13, |
49,. s49 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 |
I he leHal hnlderH thereof and mnI.a Id