The daily sentinel., 1910-10-11

Warrants Tor the year lSss. 2lI.555, 50
Warrants for the year 1889. 41S,22754
Warrants for the year 1892. 5,767.3O
warrants for the year 1898. 5.s32.53
Warrants for the year lssI. 32,916.l5
Warrants for the year 1897. R.495.ss
Total. ...................s ss73.O7IsI
sented for payment. and bear interest
at the rate OF six per cent. per anuum.
amounting am; Approximately; principal
the sum of s2,II4.762.96;
And, Whereas. the major portion OF
the above Indebtedness Is held In the
state school fund as an Investment.
which. under the constitution Of the
state, must forever remain inyIolate
and intact any loss thereof to be sup
And. whereas. il further appears
that all OF said warrants We're issued in
payment OF the ordinary expenses OF
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 employees. the salaries of the gov
ornors, attorney generals. secretaries
Of state. superintendents OF public In
state, and other eiective and
appointlve executive officers and
emplSyes erGne 5,s, Judges Of the sg-
and district attorneys; the Legislative,
executive and judicial incidental and
contingent expenses. and expenses In
and the maintenance of the state peni-
tentiary. insane asylum. Industrial
school, reformatory. agricultural coll
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.
wherewith to paw said warrants. or
any of them; and all the said indebt-
edness should be funded at lower rate
section .. There shall be submitted
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
following amendment to the Constitu
tion of the State of Colorado. which.
when ratified by majority OF those
voting thereon, shall be valid a part
OF the Constitution, to-wit:
Section Three t3) OF Article Eleven
CID OF the Constitution OF the State of
Colorado shall he amended 60 as 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 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-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 yaluntion; and the aggresate
time exceed tho sum of fifty thousand
dollars Except as provided In section
five of this article). and in all cases the
u Inn In tnp nod
preceding the creation of said debt.
thst aest in ,sst ssa'iGn to the be
Incurred. as above, the state may
contract a. deb, by loan for the
Pnspsss seuea Of ns4..s payns of tsf ,S. P.nePe
| standing warrants issued by this state
during and for. the years, 1887, 1883,
| debt to be evidenced by registered cou-
| pom Interest bearing funding bonds to
an amount not exceeding s2.ll6.ooo.oo co.
to psv said warrants and ,nteres,
| said funding bonds shall be
able at the option of the State of Colo
| rndo at any time after ten years from
their date; shah be absolutely due and and
| date, and shall be of the denomination
OF One Hundred Dollars gIoo.oo) each.
or any multiple thereof. The interest
/
| nuauy at the rate of three per cent
| per snnum at the office OF the state
treasurer. or at some place in tho CITY
of New York, U. s. A.; and the principal
| OF said bonds shall be payable at the
| office of the state treasurer.
| mo such bonds shall be issued except
| at par and accrued interest. and upon
| the coutemporaneous surrender and
cancellation OF a like amount of prin-
| cipnl and interest of said warrants
| said bonds to an amount equaling
| the principal of said warrants now held
| by the public school fund shall be reg
| lstered by the state auditor and state
treasurer in the name and for the bene-
| lit of and payable only to the said fund.
and shall not be transferable.
| And all such bonds TO an amount
| equaling 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
| 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
| law"
election, and desirous of voting for or
against said amendment shall deposit
in the ballot box ticket whereon shall
the Amendment to Section of Article
| Nl of the Constitution. Funding the
state, lndchtedness," and the words
| of Article NJ of the Constitution. Fund
| ing the state Indebtedness" and shall
Indicate his approval or disapproval by
placing a cross (N) 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
eanvassed, 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 debt funding
board. by electfnR one of its members
president and another secretary of said
board. Each member of said board, and