The Springfield herald., 1908-10-16
CONSTITUTIONAL AMENDMENT.

the state of Colorado the question OF
amending the Constitution of said state.
The authority FOR submitting such
question is found in House Bin No 49o'
which is. In words and figures follow
Ing. viz.
AN ACT
10 Submit to the Qualified Electors of
the State of Colorado an Amendmcht
to Section Three 90 of Article Eleven
tNl1 of the Constitution of the state
of Colorado, and to Provide for the
| Creation of Bonded Indebtedness on
Behalf of the state to the Amouht OF
$S73,451,3i for the Purpose of Funding
All Outstanding Legal Warrants OF
The, the State for and Prior to nno me henI and
Payment of Said Bonds.
Be 1t Enacted by the General Assem-
| bly, of the State of Colorado:
Section L. There shall be submitted to
the qualified electors of the state of
| Colorado ut the next general election
| Of members OF the General Assembly Tor
| their approval or rejection the followins
amendment to the Constitution OF the
| State of Colorado. which. when ratiheu
by majority of those voting tGereoh nom;
shall be valid as II part of the consul
| tuition, to-wit:
Section Three go of Article Eleven
| (NI of the Constitution of the state OF
| Colorado shall be amended so as to re4d
as follows;
Sec. g. The State shall mot contract
any debt by loan in any form. except to
provide for casual deficiencies OF rev.
cnue. erect public buildings FOR use OF
the State. suppress insurrection. defend
the State. or. in time of war. assist In
defending the United states anu ne
| amount of debt contracted in any one
| year to provide for dcficiencies OF rev
/ enuc. shall not exceed one fourth OF
mill on each dollar of valuation OF tax
able property within the state nnu inc
aggregate amount of such debt shail NOT
at any time exceed three iourths OF a
mill ON each dollar of said valuation,
until the valuation shaiI"sdual one nun ny
dred Millions of dollars, and Thereafter
such dobt shall not exceed one hundred
| thousand
in any one year for the erection oil pup :
lie buildings. shall not exceed one, ,hait i.l
| mill on each dollar of said valuation !.
| and the aggregate amount OF such uept
shall never ut any time exceed the sum
| of fifty thousand dollars. Except as
provided in section five OF TINS article .
and in all cases the valuation IN TINS
section mentioned shall be that OF tne
assessment last preceding the creation
| OF sad debt.
Provided, that. in addition to the
amount of debt that may be Incurred,
debt by loan for liquidating or redeem :
ing the principal only of the warrants
the years 1887, 1883. 1883, 1892, 1898
1894 and 1897; said debt by loan to be
evidenced by registered coupon inter
est funding bonds TO an amount not eN-
cecding eight hundred ana seventy
three thousand four hundred and nifty
seven dollars and ninety-four cents
| t$S73,I57.y) or so much thereof as may
| be necessary to cancel the state indebt-
edncss herein named. such luhdiiS
| the State any time after ten years from
their date but shall be due and paya,,
| BILE within fifteen years after date. ana
shall be of such denominations as the
State Treasurer may deem best. Thc
bonds shall bear interest at the rate OF
| three per cent per annun. interest pay
able scmi-anuually 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
April L. 1903.
But no such bonds shall he issued cN-
cept in exchange for n like amount OF
Indebtedness and upon the surrender of
warrants evidencins the same. eNclu-
sive OF interest.
The State Treasurer is hereby author.
. lied and directed to exchange said
presented for exchange by, individual
holders or OF warrants held by 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 ?. Each eleetor voting n, nt
for against the amendment. snail
deposit in the ballot box a ticket
| words: For the amendment to Sec
of Article NJ of the CONSTITUTION
funding the state Indebtedness" and
the words Against the amendment TO
4 Sec , of Article NJ OF the Constitution
! funding the State Indebtedness" and
shall indicate his approval or disap-
proval Of the same by placing cross
| tN) opposte one the other of said
'-roups of words on his ballot The
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 3. Upon ascertaining that
said amendment to the Constitution
State Auditor. the State Treasurer, the
Attorney General. and the Secretary of
as a debt funding board by electinS
one of its members president and an
member of said board, or their success
sors in office shall take and subscribe
an oath of office and file the same with
the Secretary of State. in the usual
form required of State officers. for
the faithful discharge Of the duties re
by empowered to subpoena witnesses.
send for persons and papers. admins
necessary TO the speedy and proper dis
charge of its duties. The Treasurer
and Auditor shall furnish the necessary
clerical help required by the board.
section L. When said board has de-
termined the amount which should be
paid upon each warrant. it shall make
and file full and complete statement
of its findings and determination with
the Auditor of the state. and the de-
ClSion OF Il majority OF the Dotru Sndll
be final.
Section >. After the board herein
provided for has filed its report and
findings with the Auditor of state, the
Governor the Treasurer. and the Secre
tary of State are hereby authorized to
issue the bonds oi the State of Colo
RADIO in accordance with the Constitu
tIon as amended in n sum not exceed
Ing eight hundred and scventy-thrce
thousand, four hundred and fifty-seven
dollars and nincty-four cents (SSIS,
4579A 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 LIST 1903, upon surrender of
said warrants for cancellation. The
holders of any of the said warrants
may pay into the State Treasury any
difference less than one hundred dol
lars C$1OO) each necessary to pay for
the bonds so delivered to them re-
spectively.
The principal of said bonds shall be
due and payable in fifteen years from
their date, with the option of redemp-
tion on the par. If he state at par and
accrued interest, in the order of their
number, at any time after ten years
from their date. at the office of the
state Treasurer of the state Of Colo
| rado said bonds shall be numbered
| cousecutively. begin"in- at number one
and shall be registered In the office Of
! the Auditor of state, and his certi-
I nf