The Paonia newspaper., 1910-10-21


ing and prior to the year 1897 for the
aggregate sum of Eight Hundred and
Seventyjthree Thousand and Is SEVENTY 1ys
0s73.o71.S4), and are still outstanding
and unpaid; as follows: .o-
Warrants for the year 1887
warrants for the year isss. 277.555.s5
Warrants for the year 1859. 41s.227.5t
Warrants for the year 1892. 5.767.30
Warrants for the year 1893. 5.932.53
Warrants for the year 1894. 32.3l6IS
Total s,o71.s4
scented for payment. and bear interest
amounting approximately, principal
ahe sum of s2.I14.7s2ss;
And. Whereas, the major portion OF
state school fund as an investment
(which, under the constitution of the
state; must forever remain inviolate
piled by the state;
And. Whereas. it further appears
payment of the ordinary expenses of
the Legislative. executive and judicial
departments of the state government:
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
struction. state auditors. tressurers Of
employees; Judges Of the .u-
and district attorneys; the legislative:
executive and judicial incidental and
contingent expenses; and expenses In
and the maintenance of the state peni,
tsntisry. insane asylum. industrial
1ese and soldiers and sailors home;
whereas. no moneys are now in the
r.f hA tat fYa n
revenues OF the fiscal years aforesaid.
wherewith to pay said warrants or
-edness should be funded at lower rate
Section z. There shall be submitted
to the qualified electors of the state
-fien Of members OF the General Assem-
following amendment to the Constitu-
tion of the state Of Colorado. which.
when rs.i1isa by ., majority ma Ss,S OF tnsse srs
Section Three .3) of Article Eleven
Colorado shall be amended so as to
sread as follows:
the TN osn ta's in sna say fopm n11 con
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-
-Jeficiencies 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
= ouch debt shall not at any time exceed
.-of said valuation. until the valuation
4. shall equal one hundred millions of dol
lars. and thereafter such debt shall not
exceed hundred thousand dollars.
and the debt Incurred in anv one year
for erection of public buildings shall
not exceed one-half mill ON each dollar
pf said valuation. and the aggregate
amount of such debt shall never at any
aime exceed the sum OF fifty thousand
dollars (except provided In section
five of this srticie). and in all cases the
valuation in this section mentioned
shall be that of the assessment last
preeeding the creation of said debt.
eaMount OF debt. debt that ,ns .,s,s may uss es
purpose Of paying the principal
standing warrants Issued by this state
during and for the years. 1877, 1sss
1889. 1892. 1898, 1894. and 1897; said
debt to be evidenced by registered cou-
pom interest bearing funding bonds TO
'an amount , not exceeding ~ ss'Iis,oooqg nseayr
TO pay said warrants and Interest
!. said funding bond. shall be
able at the option OF the State OF Colo
RADIO at any time after ten years from
their date. shall be absolutely due and
dale and shall be of the denomination
of One Hundred Dollars GIOoooD each.
or any multiple thereof. The interest
Z. on said bonds shall be payable semi
/. nually at the rate OF three per cent
per annum at the office of the state
treasurer or at some place In the CITY
NJ New York u. S. A. and the principal
Of said bonds shall be payable at the
,office of t}yss state treasurer
mo such bonds shall be issued except
at mar and accrued interest. and upon
. -fhe contemporaneous surrender and
cancellation of like amount OF prin-
!. .rinal and interest of said warrants
'"Said bonds to an amount epuhiing
t.he principal of said warrants now nero
. nv the public school fund snail be reg
fstered By the. state ,auditor anu state
treasurer in the name and Tor the Dehe-
iii of and payable only to the saio fuhd.
and shall not be transferable.
"Ali all such bonds to an amount
eotiaIfffk Sbe interest on sain warrants
Z. 6nG htd4 irf the school fund Snail be
sSoid by THE state treasurer at not less
than mar and accrued interest: and the
nraneeds thereof paid into the school
kund and distributed TO the several
cotntIes and school districts Of the
sfate. for school purposes. In the pro-
portipns and In the manner required by
Section 3. Each elector voting at said
.iection and 'desirous of voting for or
srairst said amendment. shall deposit
IN the ballot box a ticket whereon shall
he printed or written the words: For
the Amendment to Section 3 Of Article
XI OF The Constitution. Funding the
r;:. -"