The Springfield herald., 1910-10-14

lice OF the state auditor and OF the
State of Colorado were duly issued dur
ing and prior to the year 1887 Tor the
Seventy three Thousand ana Seventy
one Dollars and Eighty-four cents
1s7a.o7lS!). and are still outstanding
warrants for the year 1887
wa arr nts'f for the year isSs. a7Y.s5s. q
Warrants for the year 1892. s.dds5.s9o
f 1907 III, the year 1857
All OF which warrants were duly pre-
scented for payment. and bear interest
at the rate of six per cent. per annum;
and interest. on November soth. 1910. to
the sum Of $2.l14.762.96;
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;
And. Whereas. 1t further appears
that all OF said warrants were issued In
payment OF the ordinary expenses OF
the legislative. executive and judicial
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
of state. superintendents OF public in.
state an Of
appointive executive officers and
smpSyesd Judge. OF ahe courts su
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 peni.
tertiary. insane asylum. Industrial
IeKe and soldiers and sailors home:
and,
whereas no moneys are now in the
revenues of the fiscal years aforesaid.
wherewlth to pay said warrants. or
edness should be funded at a lower rate
Section 2. 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-
Ply. for their apProyai or reJee. d the
tion of the State of Colorado. which.
when ratified by majority of those
voting thereon. shall be valid as q part
of the Constitution. to-wit:
Section Three t3) OF Article Eleven
(XD 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-
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-
defieieneies an oy re ne shall not Exceed
nefourth of n 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 a mill on each dollar
Of said valuation. until the valuation ton
lars. and thereafter such debt shall not
exceed one hundred thousand dollars.
Ia.
for erection of public buildings shall
not exceed one-half min on each dollar
Of said vsluatl , and the agsr r, q e,
time exceed the sum of fifty. thousand
dollars Except as provided In section
valuation In this section mentioned
preceding the creation OF said debt.
amount OF debt that may be
incurred, as above. the state may
eSnposs Of 'G nayn S ,Ss GF
and accrued interest OF all the out
standing warrants Issued by this state
1883, 1892, 1893. 1891. and 1897: said
debt to be evidenced by registered cou-
pom Interest bearing funding bonds ads &c to
or much thereof as may be necessary
to pay said warrants and interest
said funding bonds shall be
able at the option of the State OF Colo
RADIO at any time after ten years from
their date, shall he absolutely due and
payable fifty 900 years. after their
date. and shall be OF the denomination
or any multiple thereof. The Interest
on said bonds shall be payable semi-an-
per nnnum at the office OF the state
treasurer. or at some PLACE IN the ely
of NeW, York; u s; A.; ana n .he pr' N, pa
office of the state treasurer.
mo such bonds shall be Issued except
at par and accrued interest, and upon
cancellation of n ike ninount OF Pr'h-
cipal and interest of said warrants.
said bonds to an amount equaiinE
the principal of said warrants now held
nv the public school fund shall be reg
treasurer In the name and for the bene-
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 nrehsnfer az no nd i rs
proceeds thereof paid into the school
fund, and distributed 10 me several
counties and school districts of the
state for school purposes, in the pro
horizons and in the manner required by
law"
section 3. Each elector voting ut said
election. and DESTROYS of voting for or
against said amendment shall deposit
in the ballot box ticket wherepn snall
the Amendment to Section Of Article
Nj of the Constitution, Funding the
state Indebtedness and the words.
"hrainst the Amendment to Section
of Article NJ OF the Constitution. Fund
ing the state lndebt cdness." and shall
Indicate his approval or dlsapproval by
placing n cross (X) opposite one or the
other of said groups OF words on his
ballot.
The votes cast for the adoption or
re iection 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 ascer-
! tanning that said amendment to the
! Constitution has been adopted by the
people of the state. the governor. state
| auditor, state treasurer. attorney gem
! cral and secretary of state shall meet
| together at the office of the state treas
! urer. and organize MS a debt-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
| take and subscribe an oath of office
and file the same with the secretary of
| state, in the usual form required of
| state officers. for the faithful dis
| charge OF the duties required by this
act. Said board is hereby authorized
| and empowered 20 subpoena witnesses.
send for persons and papers, admin st e r