The daily sentinel., 1910-10-19

| Warrants for the year 1887
warrants for the wear 1855 27f55S,s5
| Warrants for the year 1889 4IS227.E4
Warrants for the year 1892. 5767.3O
| Warrants for the year 1893. 5.g3253
Warrants for the year 1884, s2aI6.18
| Warrants for the year 1897. 2.495.gS
All OF which warrants were duly pre-
sented for payment, and bear Interest
al the rate OF six per cent. per anuum.
amounting approximately, principal
and interest, on November 30th, 1910, to
the sum OF $2.liI.762.96:
And, whereas the major portion OF
the above Indebtedness Us held in the
state school fund as On Investment.
which. under the constitution OF the
state, must forever remain inviolate
ana intact, any loss thereof to be sup
piled by the stale.
And. Whereas, IL further appears
that all OF said warrants were issued in
payment OF the ordinary expenses Of
the legislative. executive ana 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 vmploNes; the salaries OF the gov
crnors, attorney generals secretaries
OF state, superintendeuts OF public In
struction. state auditors, treasurers Of
state, ana other elective and
appointive executive officers and
employees, judges OF the SUI
preme. district and criminal courts
and district attorneys; the legislative
contingent expenses. and expenses in
CURED for the erection of buildings
and the maintenance of the state peni-
tentlary. insane asylum, Industrial
school, reformatory. agricultural col
Iege 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
any Of them; and all the said indebt-
edness should be funded at a lower rate
OF Interest: therefore
Section =. There shall be submitted
to the qualified electors OF the state
OF Colorado. at the next general elec-
tlon OF members Of the General Assem-
following amendment to the Constitu-
tion OF the state OF Colorado which.
when ratified By a majority of those
voting thereon, shall be valid as a part
| uf the Constitution, to-wlt.
section Three ~ of Article Eleven
| CND of the Constitution OF the state Of
colorado shall be amended to
| read as follows.
section g. The state shall not con-
tract any debt by loan In any form, eN-
| 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
deficiencies of revenue, shall not exceed
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 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
| OF said valuation: and the aggregate
| amount of such debt shall never at any
time exceed the sum OF fifty thousand
| dollars Except as provided in section
| five of this artlcls), and In all cases the
valuation In this section mentioned
preceding tn. creation OF said debt.
mdaS, 'esi G.b, in sSf afGn may TO 'ss be
| contract debt by loan for the
purpose of paying the principal
and accrued E, interes, ,. Of AZ the out.
1859, lss,. 1898, 1921. and 1897; said
pom interest bearing funding bonds to
an amount not exceeding s2,l1b, 100000,
or so much thereof as may be necessary
to pay said warrants and interest
said funding bonds shall be
dated December lst, 1910, shall be pay
rsdo at any time after ten years from
their date, shall be absolutely due and
payable fifty 800 years after their
date. and shall be of the denomination
Of One Hundred Dollars Gloo,oo) each,
or any multiple thereof. The Interest
| on said bonds shall be payable semi-an-
per .nnum at the effice OF the state
| treasurer. or at some place in the City
Of New York, U. S. A., and the principal
! office of the state treasurer.
| NO such bonds shall be issued except
at par and accrued tnterest, ana upon
| the contemporhneous surrender and
| cancellation of IKE amount OF prin-
cipnI and interest of said warrants.
,bs principai Of said warrants now held
| hy the public school fund shall be reg
| istered by the state auditor and state
| fit of and payable only to tho said fund.
| and shall not be transferable.
And all such bends to an am.unt
| eoualins the interest on said warrants
| now held In the school fund shall be
| sold by the state treasurer at not less
than par and accrued interest: and the
| fund and distributed to the several
counties and school districts Of the
state for school purposes. In the pro-
portiens and In the manner required by
Section 8. Each elector voting at said
election, and desirous of voting for or
against said amendment, shall deposit
In the ballot box ticket whereon shall
be printed or written the words; For
the Amendment to Section 5 of Article
Nj OF the Constitution. Funding the
state Indebtedness" and the words
Against the Amendment to Section ;
of Article NJ Of the Constitution. Fund
ing the state Indebtednesso and shall
Indicate his approval or disapprovai by
placing a cross (X) opposite one or the
other of said groups of words on his
ballot.
N The votes cast for the adoption or
rejection Of said amendment shall be
4 canvassed, and the result termined, in
the manner prescribed by the laws of
the state for the canvass of votes for
III representatives In congress
81 Section 4. Immediately upon aseer-
/ tanning that said amendment to-the
Constitution has been adopted by the
people Of the state. the governor. state
auditor. state treasurer, attorney gem
sral and secretary of state shall meet
together at the sffice sf the state treas
urer. AID organize a dsbt -fundin Z
board, BY slecting one of Its members
prssident and another secretary of said
board, Each member of said board. aA4