The daily sentinel., 1910-10-04


3s73.07i.sp. and are still outstanding
and unpaid, as follows:
warrants for the year 1887
Warrants for the year isss 297565,s IS
Warrants for the year 1883. 4lS.22T.54
Warrants for the year 1892. 5.757. 80
Warrants for the year 1898 5932.5
Warrants for the year 1894 32,sIs.IS
Warrants for the year 1921. 2.495.9s
Total ....................8 s7s,O71.S4
All OF which warrants were duly pre-
scented for payment, and bear interest
at the rate of six per cent. per anuum,
amounting approximately, principal
and interest on November Goth, 1910. to
the sum OF s2,tl4.762.96;
And. whereas, the major portion of
the above Indebtedness Is held in the
state school fund as an Investment
viii b. under the constitution OF the
state, must forever remain inviolate
ana intact any loss thereof to be sup
And, Whereas. it further appears
that all OF said warrants were issued in
payment ct the ordinary expenses OF
The legislative, executive and judo Lai
departments Of the state government
Including the per diem and mileage of
the per diem OF the legislative clerks
ana 'LpIpHSS. the salaries of the gov
trnofas attorney generals, secretaries
OF state, uperintendents or public in
struetion' ttaic fuAitors, treasurers OF
state. nnd Other elective and
appoiutlye executive Officers and
tnploStss Judges or the SUI
preme, district and criminal courts.
and district attorneys; the legislative
executive and judicial incidental and
contingent expenses; and expense. In
CURED for the erection of buildings
and the maintenance of the state peni-
Tertiary, insane asylum. Industrial
school. rerormatory, agricultural col
lose and soldiers and sailors home;
and,
Whereas. no moneys are now In the
hands OF the, state treasurer. OF the
any of them; and all the said indebt-
edness should be funded at a lower rate
Of interest; therefore
Section 2. There shall be submitted
TO the qualified electors of the state
Of Colorado. at the next general cleo
ton of members of the General Assem-
bly,, for their approval or rejection. the
following amendment to the ConGitu-
lion of the state of Colorado. which,
OF the Constitution. to-wir:
Section Three t3) of Article Eleven
(Nl) of the Constitution OF the State of
Colorado shall be amended SO as to
read as follows:
section 3. 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-
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
five Of this articisl, and in all cases the
valuation in this section mentioned
shall be that of the assessment last
PROVIDED, that in addition to the
amount, OF debt that may be
Incurred. as above, the state may
eSrpos 'G Paying ,Se p 5Gr af
and accrued interest of all the out
standing warrant. issued by this state
a ss ss go scr 4s ss snd 1857 said
debt to be evidenced by registered cou-
pom interest bearing funding bonds to
an o%o%St , not ssossdIns sise0SGS
to pay said warrants and Interest
thereon.
RADIO at any time after ten years from
their date, shall be absolutely due and
6sie, and shall be Of the denomination
OF One Hundred Dollars (yt00o0) each.
or any multiple thereof. The interest
on said bonds shall be payable semi-an-
nually at the rate of three per cent.
per annum at the office of the state
treasurer. or at some place in the CITY
Of said bonds shall be payable at the
office of the state treasurer.
mo such bond. shall be issued except
at par and accrued interest, and upon
the contemporaneous surrender ana
cancellation OF like amount of prin-
cipal and interest Of said warrants.
said bonds to an amount equalinS
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 eene-
iii Of and payable only to the said fund.
and shall not be transferable.
and all such bonds to an amount
now held in the school fund shall be
sold by the state treasurer at not less
than par and accrued interest: and tht
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
law"
Section g. Each eIector voting at said
election, and DESTROYS of voting for or
against said amendment. shall deposit
in the ballot box ticket wherein shall
be printed or written the words: Far
the Amendment to Section of Article
NJ of the Constitution. Funding the
state Indebtedness and the words.
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 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
Constitution has been adopted by the
people of the state, the governor. state
auditor, state treasurer. attorney gem
eral and secretary of state shall meet
together at the office of the state treas
urer. and organize a. a dsbt-funding
board, by electing one of Its members
president and another secretary Of said
board. Each member of said board. and
any OF their successors In office. shall