The daily sentinel., 1910-10-05

Warrants for the year is95. 5.sS2,55
Warrants for the year 1894, 32,316.l3
Warrants for the year 1897. s,Ig5.9S
Total. ................ .SS7s.O71S
All OF which warrants were duly pre-
scented for payment. and bear interest
at the rate of six per cent. per anuum,
amounting approNimately, principal
and interest, on November 30th, 1910, to
the sum Of S2lii,762.9G:
and. Whereas. the ma jor portion of
the above Indebtedness Is held in the
state school fund as an investment,
which. under tho constitution Of the
stare. must forever remain lnviolate
and Intact any loss thereof to be sup
PILE "a by the stale:
Aud, whereas. II further appears
that al OF said warrants were issued In
paA H1"ut ot the ordinary expenses OF
the i'Elslpiitc, cSocutive aud judicial
dep q meuls NJ the state gUye rnment,
luciudiNE the per diem and mileage OF
the W"ulhers OF tine general assembly;
the pr diem OF the legislative clerks
and .n P.gEta. the salaries OF the gov
Of state, siperlutcodeuts Of public In
strti 'io"' state .tditcrs, tr"asurers Of
employees, Judges Of the su-
preme, district and criminal courts
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-
tentlary, insane asylum, Industrial
school, reformutuTy, agricultural col
and.
Whereas, no moneys are now in the
hands Of the state treasurer, OF the
revenues OF the fiscal years aforesaid
Wherewlth to pay said warrants, or
any of them; and all the said lndebt-
edness should be funded at a lower rate
Of interest; therefore
Section 9. 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-
t,on OF the state OF Colorado which.
when ratified BY a majority of those
voting thereon, shall be valid a part
Of the Constitution. to-wir:
section Three 90 of Article ElSvep
md Of the Constitution II the state OF
IL, olorudo snail he amellded so as to
section 2. 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-
tion. defend the state, or in time or
war, assist In defending the United
states: and the amount Of the debt CON
trEcted 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 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 aggregate
time exceed the sum OF fifty thousand
dollars except as provided In section
five Of this - article and In all cases the
shall be that OF the assessment last
preceding the creation OF said debt.
PTSydeS that Ssst in ,SSf ADDITION to the he
incurred, SIS above, the state may
purpose ssrn.a q Psyins the ,p Prlnelp1l
standing warrants issued by this state
during and for the years. 1887, 1855
1889, lsss' 1888 1893, and 1881 said
pom interest bearing funding bonds to
an amount not exceeding s2,ll5.oO0.00,
to pay said warrants and interest
said funding bonds shall be
dated December lst. 1910. shall be pay
RADIO at amy time after ten years from
their date, shall be absolutely due and
payable fifty 800 years after their
OF one Hundred Dollars tsIoo.oo) each.
or any multiple thereof The interest
on said bonds Nhall be payable semi-an-
nually at the rate of three per cent.
per annum at the office of the state
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.
mo such bonds shall be issued except
at par and accrued interest, and upon
the contemporaneou surrender and
cancellation of n like amount of prin-
cipal and interest of said warrants.
the .n nrineIpai 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-
ut 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 treasurer at not less
| than par and accrued interest; and the
fund, and distributed TO the several
I counties and school districts of the
state for school purposes, in the pro-
| portions and in the manner required by
Section 3. Each elector voting at said
! election. and destrous of voting for or
against said amendment, shall deposit
! in the ballot box ticket whereon shall
| be printed or written the words; Far
the Amendment to Section 3 OF Article
| state Indebtedness" and the words
Against the Amendment to Section
of Article NI OF the Constitution. Fund
ing the state lndebt tedness." and shall
Indicate his approval or disapproval by
placing cross (X) opposite one or the
other OF said groups of words on his
ballot
The votes cast for the adoption or
rejection 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 aseer-
tanning that said amendment to the
Constitution has been adopted by the
people of the state. the governor. state
auditor state treasurer, attorney gen
eral and secretary of state shall meet
urer, and organize as a debt funding
board. by electins one of Its members
president and another secretary of said
board. Each member of said board and