The Paonia newspaper., 1910-11-04

state of Colorado were duly issued dur
aggregate sum of Eight Hundred and
Seventy-three Thousand and Seventy
o.sss, Dollsrs and Eighty-four cents
and unpaid as follows: -
wsnraPt. 0f for the year isss. asYsss.ss
Warrants for the year 1855. s.7sIso
Wsrrants for for the the year year 1851. ssS,sisis
warrants for the year 1897. 2,4ss.ss
Total. .$s73.o71s4
All Of which warrants were duly pre-
sented for payment. and bear Interest
amounting approximately, principal
the sum Of ,s.I14.7s2ss: ~
And, Whereas, the major portion OF
the. above Indebtedness is held in the
which. under the constitution of the
and intact, any loss thereof to be sup
piled by the state.
that all of said warrants were issued in
payment of the ordinary expenses of
The Legislative. executive and judicial
Including the per diem and miIease OF
the per diem Of the legislative clerks
ernors. attorney generals. ,secret aries
OF state. superintendents of public In
:sss and .' osSel :.cvs
.ppointiv. executive Officers and
employes; Judges the SUI
and district attorneys; the legislative.
executive and judicial incidental and
eontinEsnt esspsnses;, and sxpsns,ss p.I, In
and the maintenance OF the stale peni
tsntiary. insane asylum. Industrial
and ana .aoI. homs
Whereas. no moneys are now In the
revenues OF the fiscal years Aforesaid.
any any of them; ana All .he said indss,.
section Z. There shall be submitted
of Colorado. at the next general Aelec-
tion of members of the General Assem-
bly,, for their approval or rejection. the
tion of the State of Colorado. which.
when ratified by majority Of those
voting thereon. shall. be valid as q part
Section Three t3) OF Article Eleven
(xI) of the Constitution of the State of
COLORADO, shall be amended so as to
..Section 3, The state shall not con-
tract any debt by loan In any form. ex-
of revenue. erect public buildings for
the use OF the state. suppress insurrec-
ton defend The STATE or IN. n tine n,, sd Of
Sfates: and the amount of the debt con-
sracted In any one year to provide for
deficiencies of revenue. shall not exceed
one fourth of a 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 -fourtbs 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 I'm 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 article). and in all cases the
valuation in this section meptioned
shall be thar OF the assessment last
pre- ding the creation Of said debt.
pEayiefd sthsi a., IN ssa'iiPn 10 'be he
Incurred. as above. the state may
contract a debt by loan for the
purpose 4of Z paying the principal
and .sccrned 1pterest of all The out
standing Warrants issued by this state
duriffg and for the years. 1867. lhhs
1859. 1882, 1898. 1894. and 1897 said
pom sfnterest hearing fnpdinE bon1s %
an amount not exceeding s2.l15 ooo.oO
or SO much thereof as may be necessary
TO pay said. Warrants and Interest
.s:said funding bonds shall be
dated December LIST. 1910. shall be pay
able at the option Of the state Of Colo
rado al any time after ten years from
their date shall be absolutely due and
PAYABLE fifty l50D years after their
dafe. and shall he OF the denomination
of one Hundred Dollars CyI0O.0Qb each,
or any multiple thereof. The interest
nualIy at the rate OF three per cent
per annum at the office OF the state
treasurer, or at some place In the Clty
NJ New York u. :. A.. and the principai
~ said bonds shall he. payable at the
office of the state treasurer.
mo such bonds shall he issued except
at par and accrued interest, and upon
the neutrality-suspicious. surrender ann
cnncelIation of like amount OF prin-
,,ir,al and interest of said warrants !
"Said bonds to an amount equailng
the principal of said warrants now Etlu
10 the rnIblic school fund shall be reg
istered by the state auditor ana state
treasurer in the name and for the bene-
fit of and payable only 20 ahe saio iuho'
and all such bonds to an amount
eouaiine the interest on said wGFrants
nov held In the school fund shall be
sold by the state treasurer at not lesS
tban par and accrued interest: and the
proceeds thereof paid into the school
fund. and distributed TO the several
co,,nties and school districts Of the
state for school purposes. in the pro-
portions and In the manner required by
section g. 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 Of Article
xI of the Constitution. -Fupding--t ne