The daily sentinel. [volume] (Grand Junction, Colo.) 1893-current, 1910-10-26

All Of which warrant. were daiy pre-
at the rate OF six per cent. per annum
amounting ana uniting, approximately; principal
the sum OF s2.lli.f62.96:
And. Whereas the major portion of
the above Indebtedness is held In the
state school fund as an Investment
which, under the constitution OF the
state, must forever remain inviolate
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
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
errors, attorney generals. secretaries
of state. superintendcnts of public In
struetion. state auditors. treasurers OF
appointive executive Officers and
employees; Judges OF the SUI
and district attorneys; the legislative,
executive and judicial incidental and
contingent expenses: and expenses in
CURED for the erection of buildings.
Tertiary. insane asylum. Industrial
school. reformatory, agricultural col
and,
Whereas. no moneys are now in the
hands of the state treasurer. of the
revenues of the fiscal years aforesaid.
wherewith to pay said warrants. or
any of them; and all the said indebt-
edness should be funded at lower rate
OF Interest; therefore
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-
bly,, for their approval or rejection, the
following amendment to the Constitu-
tion OF the state of Colorado which,
Ii ~ "a htr t,s., ..rtf ~
voting thereon. shall be valid as a part
of the constitution. to-wlv:l
sc section Y, n, Three 81 Of Article Eleven
Colorado shall be amended so as to
read as follows:
Section O. The state shall not con
cept to provide for casual deficiencies
of revenue, erect public buildings for
war. assist In defending the United
States: and the amount of the debt con-
deficiencies OF revenue. shalt not exceed
one-fourth of a mill on each dollar of
valuation of taxable property within
such debt shall not at any time exceed
ree-fourths of mill on each dollar
of said valuation. until the valuation
lars. and thereafter such debt shall not
exceed ono hundred thousand dollars.
and the debt incurred in any one year
not exceed one-half mill on each dollar
aid 0s S.h, .na the
five Of thi. articls). and In all cases the
ysIp.t 10 IN in this section mentioned
presiding III. creation Of said debt.
Provided, ths, in edition to the
Of a. . Ssst h. state may =;
purpose of paying tho principal
snS SFuss ..S of =. BY .s . ea
1855. isss. 1885. 1884. and 1851; said
p pen no as Gearing funding bonds TO
an amount not exceeding s2.116.000.0O.
or so much thereof as may be necessary
to pay said warrants and interest
Said funding bonds .hell be
dated December LIST, 1910, shall be pay
s radio hs ms
their date. shall be absolutely due and
payable fifty 500 years. after their
OF One Hundred Dollars tyIoo.oo) each.
on s ans sond: shall be pay.5is .s%i-an.
p psa snnu s 'a At The offlee 'o Of he state
treasurer, or at some place In the CITY
OF New York, U. s. A, and the principal
office of the state treasurer.
mo such bonds shall be Issued except
at par and accrued interest, and upon
the contemporeneou surrender and
cancellation Of D like amount of prin-
cipal and interest Of said warrants.
said bonds to an amount eQualing
the principal of said warrants now held
by the public school fund shall be reg
istered by the state auditor and state
treasurer in the name and for the bene-
tit of and payable only to tho said fund.
and shall not be transferable.
And all such bonds to an amount
equaling the interest on said warrants
now held in the school fund shall be
sold by the state treasurer at not less
than par and accrued interest: and the
proceeds thereof paid into the school