The daily sentinel., 1910-10-14

Warrants for the year 1892. SIS. 40
Warrants for the year 1898, 5.g32. 50
Warrants for the year 1894. 32.3l6.t3
Warrants for the year 1897. 2,495.9s
Total, ...,............... sS7s,O7I Sc
All OF which warrants were duly pre-
sented for payment. and bear interest
nt the rate OF six per cent per anuum,
amounting approNlmately principal
ana interest ON November 3Oth, 1910, to
the sum Of S2.11I,562.96:
And, whereas. the major portion Of
the above Indebtedness is held in the
state school fuuu as an Investment.
which under the constitution OF the
state. must forever remain inyiolute
and intact, any loss thereof to be sup
piled by the state.
and. whereas, il 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 governments,
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 ;he gov
ernors, attorney generals. secretaries
Of state. superlntendents Of public in
stru'lon, state auditors, trcasurers ot
state, and other eiectiye and
appointiye executive officers and
employees Judges OF the su-
preme, district and criminal courts,
and district attorneys; the legislative,
executive and judicial Incidental and
contingent expenses; and expenses In
CURED for the erection OF buildings.
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,
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 cleo
tlon of members OF the General Assem-
bly,, FOR their approval or rejection, tho
following amendment to the Constitu-
lion Of the state Of Colorado, which,
whom ratified by a majority of those
voting thereon. shall he valid as a part
uf the Constitution, to-wlt:
section Three 90 of Article Eleven
tND Of the Consultation OF the state OF
Colorado snail be amended so as 70
"seouun 3 The state shah 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
une-fOurth of mill on each dollar cf
valuation OF taxable property within
the state, and the aggregate amount d&.
such debt shall not at any time eSceeQ
ihrtt-tOhrtns OF mill on eaCn dOlAkE
OF said valuation. until the yaluatlI{iS
shall equal one hundred millions OF AhlS
lars, and thereafter such debt shalL mr..
exceed one hundred thousand doIlart,
and the debt Incurred in any one wear
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
"A n . d
shall be that OF the assessment last
preceding the creation of said debt.
provided; that hat in edition to The he
Incurred. as above. the state may
contract debt by loan for the
purpose Of paving the principal
standing warrants issued by this state
during and for the years, 1887, 1883.
1889. 1892. 1923, 1898. and 1897 said
pom interest bearing funding bonds to
an amount not exceeding {2,l1b,0O0.o0,
SO much thereof AS may be necessary
to pay said warrants and Interest
said funding bond, shall be
dated December LIST. 1910, shall be pay
able at the option of the state of Colo
radn at any time after ten years from
their date, shall be absolutely due and
payable fitty (5o) years after their
OF one Hundred Dollars t,too.ool each,
or any multiple thereof. The interest
on said bonds shall be payable semi-an-
per annum at the office OF the state
treasurer. or at some place in the CITY
OF New York, U. S. A.. and the principal
of said bonds shall be payable at the
office of the stale treasurer.
NO such bonds shall be issued except
at par and accrued interest, and upon
the contemporaneous surrender and
cancellation of a like amount of prin-
cipal and interest OF said warrants.
said bonds to an amount equhlinS
a .. .aals a
hv the public school fund shall be reg
istered by the state auditor and state
treasurer in the name and for the bene-
ut Of and payable sfsraht. 9niy tS 1he sa'' iuh'
And all such bonds to an amount
eaualing the interest on said warrants
sold by the state treasurer at not less
than par and accrued interest. and the
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-
portions 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
he printed or written the words: For
the Amendment to Section of Article
ri of the Constitution, Funding the
Against the Amendment to Section J
of Article NJ of the Constitution. Fund
ing the state Indebtedness" and shall
Indicate his approval or disapproval by
placing q 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-
tanning that said amendment to the
| - ,cti iftf m aA. I'D he
people of the state, the governor, state
auditor. state treasurer. attorney gem
eral and secretary of state shall meet
urer. and organize as debt-fundinE
board, by electing one of Its members
president and another secretary of said
knard Each har aS