The daily sentinel., 1910-10-08
Be % Enacted by the General Assembll

" a anus AVi tue year 1881
and prior. ......,.... sO.77s.71
warrants for the year lSSs. 277.555. So
Warrants for the year 1889 4lS22T54
Warrants for the year 1892 57673O
Warrants for the year 1898 s,g3253
Warrants for the year 1894 323I6.l3
Warrants for the year 1897. 2,4g5.9S
Total. ,..........,.......ss73 3,O7iS4
All of which warrants were duly pre-
sented for payment, and bear interest
at the rate OF six per cent. per annum,
amounting approximately. principal
and interest, on November goth, 1910, to
the sum Of s2.llI.762.96:
And. Whereas. the major portion of
the above Indebtedness Is held in the
state school fund as an Investment.
which. under the constitution OF the
state, must forever remain inviolate
and intact, any loss thereof to be sup
And, Whereas, ii further appears
that all of said warrants were Issued In
payment of the ordinary expenses of
the legislative, executive and judicial
departments of the state government.
including the per diem and mileage OF
the members of the general assembly
the per diem Of the legislative clerks
and employees the salaries of the gov
ernors, attorney generals, secretaries
Of state. superinteudents of public in
struction, state auditors. treasurers Of
state, aud other elective and
appointive executive Officers and
employees, Judges of the SUI
preme, district and criminal courts,
executive and judicial incidental and
contingent expenses: and expenses in
CURED for the erection of buildings,
and the maintenance of the state peni-
tentiary, insane asylum, Industrial
school reformatory, agricultural col
lege and soldiers and sailors home
and,
Whereas, no moneys are now In the
hands OF the state treasurer, of the
revenues of the fiscal years aforesaid.
wherewith to pay said warrants, or
.aE tt.a.Ua a 4 T.. 49,
edness should be funded at lower rate
Of INTEREST," therefore
Section q There shall be submitted
TO the qualified electors of the state
of Colorado, at the next general cleo
tion of members of the General Assem-
bly,, for their approval or rejection, the
following amendment to the Constitu-
tion of the State of Colorado. which,
when ratified by majority of those
voting thereon, shall be valid as a part
Of the Constipation. to-wit:
(Xl) of the Constitution OF the State OF
Colorado shall be amended as TO
read as follows:
Section g. The state shall not con-
tract any debt by loan in any form, ex-
cept to provide for casual deficiencies
of revenue, erect public buildings for
the use of the state, suppress insurreC-
tion. defend the state. or. in time OF
war, assist In defending the United
states and the amount of the debt con-
tracted In any one year to provide for
one-fourth Of mill on each dollar of
valuation OF taxable property within
the state, and the aggregate amount of
such debt shall not at any time exceed
three-fourths of a mill on each dollar
of said valuation, until the valuation
shall equal one hundred millions of dol
lars, and thereafter such debt shall not
exceed one hundred thousand dollars.
and the debt Incurred in any one year
for erection of public buildings shall
not exceed one-half mill on each dollar
n ~ n . a
amount OF such debt shall never at any
time exceed the sum of fifty thousand
dollars Except 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 said debt
amount Of debt that 'G may y be be
Incurred. as above, the state may
contract a debt by loan for the
standing warrants issued by this state
during and for the years, 1887, 1SSs,
1889. 1893, 1923. 1894, and 1897: said
pom interest bearing funding bonds to
AN amount not exceeding SEIZE 900. 90.
or so much thereof as may be necessary
to pay said warrants and interest
thereon.
said funding bond. shall be
dated December LIST, 1910, shall be pay
their date. shall be absolutely due and
payable fifty 500 years after their
date. and shall be OF the denomination
OF One Hundred Dollars. (sloo.oo) each.
or any multiple thereof. The interest
on said bonds shall be payable semi
nually at the rate of three per cent.
treasurer. or at some place in the city
of New York, U. S. A, and tho principal
of said bonds shall be payable at the
office of the state treasurer.
sn,ph hOnhS shall he issued rMCppt
at par and accrued Interest, and upon
the contemporaneous surrender and
cancellation OF like amount OF prin-
said bonds to an amount eQualing
the principal of said warrants now held
by the public school fund shall be reg
istered by the state auditor and state
treasurer in the name and for the bene-
fit of and payable only to the said fund.
and shall not be transferable.
And all such bonds to an amount
eaualing the interest on said warrants
now held in the school fund shall be
sold by the state treasurer at not less
proceeds thereof paid into the school
fund, and distributed TO the several
counties and school districts of the
state for school purposes. in the pro-
law
Section 3. Each elector voting ut said
election, and desirous OF voting for or
against said amendment. shall deposit
in the ballot box a ticket whereon shall
be printed or written the words: Far
the Amendment to Section 3 of Article
XI of the Constitution, Funding the
state Indebtedness" and the words
Against the Amendment to Section J
of Article XI OF the Constitution, Fund
ing the State Indebtedness." and shall
indicate his approval or disapproval by
placing a cross (X) opposite one or the
other OF said groups of words on his
ballot.
The votes cast for the adoption or
rejection of said amendment shall be
canvassed, and the result determined, in
the manner prescribed by the laws of
the state for the canvass of votes for
representatives in congress-
Section 4. Immediately upon aseer-
taining that said amendment to the
Constitution has been adopted by the
people of the state, the governor, state
auditor. state treasurer. attorney gem
together at the office of the state treas-
urer. and organize as a bt-fundinG r
board. by slecting one of Its members