Gilpin observer., 1910-10-27

aggregate sum Of Eight Hundred and
one Dollars and Eightyfour cents
0S73o71.s4). and are still outstanding
and unpaid as follows: .
Warrants for the year 1887
warrants for the year iissssss. 2ssYYsss.s5
Warrants for the year 1883. 4l8.227.54
Warrants for the year 1892. 5.167.3O
Warrants for the year 1893. 5.932.63
Warrants for the year 1894. 32.3l6.13
Warrants for the year 1897. 2.495.9S
Ali Of which warrants were duly pre-
at the rate M of six SKIP: per As cent. E per annum:
amSq1ntins ann aPpIoximateiy prneipai
the sum OF $2.114.762.96:
And. Whereas. the major portion of
the above indebtedness Is held in the
state school fund as an Investment.
state, must forever remain invioiate
and intact, any loss thereof to be sup
piisn sna oy whsrse. ths state, ,v,,,s, amman.
that all OF said warrants were issued in
payment Of the ordinary expenses of
the legislative: executive and judicial
the members Of the general assembly:
and employees: the salaries Of the gov
ernors. attorney generals. secretaries
Of state. superintendent Of public in.
state. and ~ other elective and ID
sppS2n.ive snppn2dNa. :sss. EXECUTIVE OFFICERS and and
ensme d.riee Sases and ermnai he court.
and district attorneys: the legislative:
executive and judicial incidental and
continssnt expenses: and expenses In
and the maintenance of the state peni-
Tertiary. insane asylum. industrial
'. isse ana ' soldiers' and !af saiiors' home; G
and.
whereas. no moneys are now in the
revenues of the fiscal years aforesaid.
wherewith to pay said warrants. or
any Of them them; a and all the said indsb.,
Of interest: therefore
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
s she ssats OF se
voting thereon. shall be valid as a part
" section @ Three Is Of Article Eleven
(xI) of the Constitution OF the State of
Go!SSraaa1; Ge.!S ;oi}nm. fhaii be amended SO as to
Section ). 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
Wa, assist I'm in defending the sh United
tracted in any one year to provide for
deficiencies of revenue. shall not exceed
valuation Of taxable property within
the state. and the aggregate amount of
such debt shall not at any time exceed
ree.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
and the debt incurred in any one year
for erection OF public buildings shall
not exceed one-haif mill on each dollar
amount of such debt shall never at any
time exceed the sum of fifty thousand
d0la1s as Proyidea IN ses'iSa iSs
valuation in this section mentioned
shall be that of the assessment last
provided: that in addition to the
n%S4ns ineSTred. al a. above. ; the the state may
s5fSss 3, dfst paying sy ,Ssn .se pfineps sG1 saf
s,sndSs snS sisFrss ii;s ssaSsd & d g. If
aSgnt sss tisss ssd 1885 tSf hss yeans and 1851 M
debt to be evidenced by registered eou.
pom interest bearing funding bonds to
or M SO much thereof as may be necessary
to pay said warrants and Interest
thereon. ,, ,on,. .,.u 10
dated December 1st. 1910. shall be pay
able at the option of the State of Colo
RADIO at any time after ten years from
payable fifty 500 years after their
date. and shall be OF the denomination
of One Hundred Dollars tsIoooo) each.
on said bonds shall be payable semi AN
nuaily at the rate of three per cent
per annum at the oi,Se ,ncs 81 the ne 'tats Eity
Of New York, U. 8. A.. and the principal
OF said bonds shall be payable at the
office OF the state treasurer
No hnndQ
at par and accrued interest and upon
the contemporaneous surrender ana
cinai and interest OF said warrants.
said bonds to an amount equaling
the principal of said warrants now held
istered by the state auditor and state
treasurer In the name and for the bene-
fit OF and payable only ns. to shs SAID fund'
And all such bonds to an amount
eouaiinG the Interest on said warrants
solI nSI by W the state treasurer at not. less
proc proeesds thereof paid Into the school
counties and school districts OF the
state for school purposes. In the pro-
portions and in the manner required by
Section 8. Each eiector voting at said
election, and desirous Of voting for or
s.ias ia1a pom sess, spSs
BE- printed or written the words: For
the Amendment to Section 3 Of Article
State Indebtednsss." and the words:
"XEainst the Amendment to Section ;
inx the state Indebt tedness." 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.
rejection of said amendment shall be
the manner prescribed by the laws Of
the state for the canvass of votes for
'seetion immeSisteiy upon a.cer.
tanning that said amendment to the
Constitution has been adopted by the
auditor. state treasurer. attorney gem
eral and secretary of state shall meet
together At the office of the state treas
uror, and organise a. debt funding r
board, by electinG one OF its membe rs