The daily sentinel., 1910-10-24
Total. .ts7g.O7l-sl

Total. .................ss s73.OTl.S4
All OF which warrants were duly pre-
sented for payment, and bear interest
at the rate Of six per cent. per annum
amounting Approximately, principal
the sum OF S2,lli.562.sG.
And, Whereas. the major portion OF
the above Indebtedness is held ia the
state school fund as an Investment
state, must forever remain inviolate
and intact, any loss thereof to be sup
piled by the state:
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 members Of the general assembly:
the per diem OF the legislative clerks
and employees; the salaries OF the gov
OF state, supcrintcndents OF public in
slruction, state auditors, treasurers OF
appointive executive Officers and
employees, Judges OF the su-
prome, district and criminal courts
and district attorneys; the Legislative,
contingent expenses, and expenses in
CURED for the erection OF buildings
tentiary. Insane asylum. industrial
school, reformatory, agricultural col
loge and soldiers and sailors home
snd,
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 a lower rate
Of Interest; therefore
Section ?. There shall be submitted
to the qualified electors of the state
Of Colorado, at the next general elec-
tlon OF members OF the General Assem-
ply. Tor their approval or rejection, the
following amendment to the Constitu-
tion OF tre State of Colorado. which,
when ratified by majority of those
voting thereon, shall be valid as part
Of the Constitution. to-wit.
Section Three t3J of Article Eleven
CID Of the Constitution OF the State o:
Colorado shall be amended so as to
Section O. The state shall not con
trrict 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-
tiou, 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 a 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 valuation; and the aggregato
time exceed the sum OF fifty thousand
dollars except as provided In section
five OF this srticls). and in all cases the
valuation in this section mentioned
shall be that OF the assessment last
preceding the creation of said debt.
tGs Sss, in ,sst sss''Gn @,S to the Be
Incurred. as above. the state may
contract debt by loan for the
purpose of paying the principal
standing warrants issued by this state
during and for the years, 1887, 1883
1889. 1854 1888, 1894. and 1897; said
debt to be evidenced by registered eou-
pom interest bearing funding bonds to
an amount not exceeding sans. .0o0. 90.
or so much thereof as may be necessary
Said funding bond. shall b.
dated December LIST 1919. shall be pay
able at the option OF the State of Colo
RADIO at any time after ten years from
their date. shall be absolutely due and
payable fitty 500 years after their
OF One Hundred Dollars (sIoo.oo) each.
or any muitiple thereof. The inherent
on ssid, bonds hall be payable semi-an-
per per-" nnnum at the office Of h. state
OF New York, U. S. A. and tho 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 contempornneous surrender and
cancellation Of 4 Ike amount OF prin-
eipaI and interest Of said warrants.
said bonds to an amount eQueling
the prlncipal OF SAID warrants now held
bv the public school fund shall be reg
istered by the state auditor and state
treasurer in the nsme and for the bene-
fit OF and payable only to the sait fund
and shall not be transferable.
And all such bonds to an amount
,,uaiinr the interest en- said warrants
now held in the school fund shall be
sold by the state treasurer at not les,
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