The Springfield herald. (Springfield, Baca County, Colo.) 1887-1919, 1910-10-07

flee of the state auditor and of the
State of Colorado were duly issued dur
Ing and prior to the year kAfT the
aggregate sum OF Eight HundAd and
one Dollars and Eighty-four cents
tS73.OI1.s!). and are still outstanding
and unpaid. as follows:
Warrants for the year 1897
warrants FOR the year 1855. 277.5as.s5
Warrants for the year 1889. 4IS.227.54
Warrants for the year 1892. Listed
Warrants for the year 1898 5.932.53
Warrants for the year 1891. 32.sIs.l3
Total. ....,..............ss 73.O 71.si
sented for payment, and bear Interest
at the rate of six per cent per annum
am nn ind., appToximate!y principal al
the sum OF ,2.Il47629G
And, whereas. the major portion Of
the above indebtedness is held In the
which, under the constitution of the
state, must forever remain inviolate
and intact, any loss thereof to be sup
And. whereas, it further appears
that all of said warrants were issued In
payment of the ordinary expenses of
the legislative. executive and judicial
departments of the state government.
including the per diem and mileage of
the per diem of the legislative clerks
and employees: the salaries of the gov
ernors. attorney generals. secretaries
of state. superintendents OF public in,
struction. state auditors. treasurers OF
state; and other ELECTIVE and
taases of sse sm
preme, district and criminal courts,
and district attorneys: the legislative;
contingent expenses: and expenses In
CURED for the erection of buildings
and the maintenance OF the state peni.
Tertiary. insane asylum. industrial
school. reformatory agricultural col
lege and soldiers and sailors home
Whereas. no moneys are now in the
hands of the state treasurer. of the
revenues of the fiscal years aforesaid
any of them; and all the said indebt-
edness should be funded at u lower rate
of interest; therefore
to the qualified electors of the state
of Colorado, at the next general cleo
tion of members of the General Assem-
following amendment to the Constitu-
tion of the State of Colorado. which.
voting thereon, shall be valid a part
of the Constitution. to.wit:
The eTse s OF ar Se
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
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 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 n 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 valuations and the aggregate
amount of such debt shall never at any
time exceed the sum of fifty thousand
dollars Except MS provided in section
valuation in this section mentioned
shall be that of the assessment last
preceding the creation of said debt.
incurred, as above. the state may
eontrast deb, lS Se p 5ST 1hg
and accrued interest of all the out
standing warrants issued by this state
1889, 1892. 1893. 1891. and 1897: said
debt to be evidenced by registered cou-
pom interest bearing funding bonds to
an amount not exceeding $2.ll5.OoO.O0.
or so much thereof as may be necessary
to pay said warrants and interest
thsEsq1- ,,, how'd. shan y.
dated December list. 1910. shall be pay
able at the option Of the State of Colo
radG at any me ia a'a ah Ven yyhsS se ir nnd
payable fifty 500 years after their
date. and shall be Of the denomination
OF One Hundred Dollars tsL0o.Oo) each.
or any multiple thereof. The interest
on said bonds shall be payable semi-an-
nually at the rate 81 three per cent.
treasurer or at some place in the CITY
OF New York; u. S. A.; and the principal
of said bonds shall be payable at the
office of the state treasurer.
No such bonds shall be issued except
at par and accrued interest, and upon
the contemporaneous surrender and
cancellation of Ike amount of prin-
cipaI and interest of said warrants.
said bonds to an amount equalinG
tho principal of said warrants now held
by the public school fund shall be reg
istered by the state auditor and state
tit of and payable only TO the said FUND
and shall not be transferable.
and all such bonds to an amount
eauaiing the interest on said warrants
naw held in the school fund shall be
sold by the state treasurer at not less
than par and accrued interest; and , tns
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 3. Each clector voting at said
election, and DESTROYS of voting for or
.poinst said amendment, shall deposit
in the ballot box IA ticket wherein shall
be printed or written the words: For
the Amendment to Section OF Article
XII OF the Constitution. Funding the
State Indebtedness" and the words:
Against the amendment to Section 3
of Article XII of the Constitution. Fund
ing the State Indebtedness and shall
Indicate his approval or disapproval by
placing a cross (X) opposite one or the
other of said groups oil WORDS on ms
ballot.
The votes cast for the adoption or