The new era., 1910-10-27

Seventy-three Thousand and seventy
one one, Dollars and Eighty-four, ei GEMS a, 8
and unpaid, as follows: @
Warrants for the year 1887 >,
warrants arr nts'f for the year 1855. 527,555.s5
Warrants for the. year 1883. 4lS'22L. 4
Warrants for the year 1892. 5,563,$oo
Warrants for the year 1898. 5,93Z. o. .
Warrants, for the year 1891 32,316.l3
Warrants" for the year 1897. 2,495.9S
Total .ss73, ,O71s4
All of which warrants were duly pre-
sented for; payment, and bear interest
at the rate of six per cent. per annuln;
am,ounting approxlmateiys;o prinG,pal praIa az
the sum of 81, 114.7 1896;
And, Whereas, the major portion OF
the above Indebtedness is held in the
state school fund as an investment, n +
which, under the constitution of the
state mus must forever ever remain inwioia6e lai sn1e
And. Whereas. it further appears
that all of said warrants were issued in
payment of the ordinary expenses of
the legislativey executive and judicial
departments Of the. state government,
heiudlng the f per ,b diem and meag
the per diem of the Legislative clerks
and employees; the salaries of the gov
ernors, attorney generals. secretaries
of state, superintendent of public In
struction, state auditors, treasurers OF
state, and other elective ELECTIVE, d and
employees. Judges of the SUI
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,
and the maintenance of the state penl,
school. reformatory. agricultural! col
lege and soldiers and sailors homei
and,
Whereas. no moneys are now in the
hands ref the state. treasurer. of the
revenues of the fiscal years aforesaid,
wherewith to pay said warrants. or
edness should be fundediat a lower rate
of interest: therefore
Section g. There shall be submitted
to the qualified electors of the state
of Colorado. at the next general elec-
tion of members of the General Assem- :
bly,, for their approvalaor rejection; the
tion of the State of Colorado. which.
when ratified by majority of those
voting thereon, shall be valid as part
SECTION, Three (3l of ArticleA Eleven
(XI) of the Const tuition of the State of
Colorado shall be amended SO as TO
section 8; 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 fnsurrec.
rtion. defend the state, or. in time of
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
of said valuation, until the valuation
shall equal one hundred millions of dol
lars, and thereafter such debt shall not
for for erection ere 'jf public buildings shall
l.. .,al.I 4 al ~
f' nf SAID fieya Variation; A and 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'o this article), and in all cases the
zvaluaAion in this section mentioned
shall be that of the assessment last
"Provided: that in addition to the
incurred, as above, the ne, state tie may ihy
purpose of paying the principal
and accrued interest of all the out
standing warrants Issued by this state state
1859, 1892. -1S93. 1894, and 1897: said
debt to be evidenced by registered cou-
pon:,nterest bearing funding bonds to
an amount not exceeding 900 90.
or so much thereof as may be necessary
to pay said warrants and interest
thereon. ~ .,,,, ,e
dated December 1st. 1910, shall be pay
able at the option of the State OF Colo
rade at any tine after ten y years f,e irUI nnd
payable fifty 500 years, after their
date, and shall be of the denomination
of One Hundred Dollars tS19mo;oP0 eacgf eaen
on said bonds sha II be payabIe semi an
nually at the rate of three per cent.
ner annum at the office of the state
treasurer; or at some place in the Glty
ofNew York U. S. A., and the pr!nclpal
of said bonds shall be payable at the
(. office of the state treasurer.
n
at par and accrued interest. and upon
the contemporaneous surrenueF ~ Az
cancellation of a like amount OF pflh-
cinal and int crest of said warrants.
t"Said bonds to an amount equahnS
the principal of said warrants now r meIu
hy the public school fund shall be reg
istered by the state auditor ana STATE
tTea asuref in the name and for the bene-
fit of and payable only to me sa'd iuio'
And all such bonds to an amount
eouaiing the interest on said warrants
nov held in the sreoel tna at not less
than par and accrued interest; and thG
proceeds thereof paid into the school
FUND. and distributed TO the severai
counties' and school districts of the
stale for school purposes in the pro-
pnrticns and in the manner required oy
Section 3. Each elector voting at said
election, and desirous of voting for or
against said amendment, shal deposiII
in the ballot box ticket whereon shall
be printed or written the words: For
the Amendment to Section of Article
VI Of the Constitution, Funding the
State Indebtedness," and the words
against the Amendment to. Section 3
of Article XI of the Constitution, Fund
Ing the State Indebtedness and Shnli
indicate his approval or disapproval by
placing a cross (X) opposite one or the
other of said groups of words ON his
The votes cast for the adoption or
rejection of said amendment shall be
canvassed, and the result determined, in
rrp O q