The daily sentinel., 1910-10-18
Be It Enacted by the General Assembly
of the Stats al Colprarp-

Seventy-three Thousand and seventy
one Dollars and Eighty-four cents
tbI3,OTlS4D, and are still outstanding g
and unpaid, as follows:
warrants for the year 1887
waTTshts arr ' for the year 1855 !7Y.55s.s5
Warrants for the year 1883. 4Is.227.b4
Warrants for the year 1892. 5.767. 80
Warrants for the year 1893. 5.932.53
Warrants FOR the year 1887. 2,4s5.SS
Total. .,...............s sS78.O7fS4
An OF which warrants were duly pre-
sented for payment. and bear interest
at the rate OF six per cent. per annum,
amounting approximately, principal
and interest. on November 30th, 1910, to
the sum of I2.l1I.7G2.9GS
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, 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 she gov
ernors, attorney generals. secretaries
Of state, superinteudents OF public in
struCtlOu. state auditors, treasurers OF
state, and other elective and
appointive executive officers and
employees; Judges OF the su-
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-
tentiHry, 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
wherewith to pay said warrants. Or
any Of them, and all the said indebt
edness should be funded at a lower rate
OF Interest; therefore
Section q 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,
when ratified by majority OF those
voting thereon shall be valid as part
Of the Constitution. to-wlr;
section Three go of Article Eleven
(XD OF the Constitution OF the State OF
Colorado shalt be amended so as to
read as follows:
Section 3. The state shall not con-
tract 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-
tion. defend the state, or, in time of
war. assist In defending the United
states: and the amount of the debt con
trncted In any one year TO provide for
deficiencies 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
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
amount of such debt shall never at any
time exceed the sum OF fifty thousand
five OF this srticle), and in all cases the
valuation in this section mentioned
shall be that of the assessment last
preceding tho creation Of said debt.
provided. that In addition to the
smount OF debt that may be
Incurred. as above. the state may
purpose OF paving the principal
and accrued Interest of all the out
standing warrants issued by this state
1889. Issf. 1888. 1894. and 1897; said
debt to be evidenced by registered cou-
pom interest bearing funding bonds to
or so much thereof as may be necessary
to pay said warrants and interest
| thereon.
said funding bonds shall be
dated December LIST, 1910, shall be pay
| able at the option OF the State of Colo
| RADIO at any time after ten years from
S is sS yssrs after an' ssr saG
date, and shall be of the denomination
Of One Hundred Dollars C*Ioo.oo) each,
or any multiple thereof The interest
| on said bonds shall be payable semi -an
nually at the rate OF three per cent.
per annum at the office OF the state
| 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 a like amount of prin-
| Gina 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 the said fund
| and shall OF be transferable.
| and all such bonds to an amount
eousiins tho interest on said warrants
| now held in the school fund shall be
| sold by the state treasurer at not less
| proceeds thereof paid into the school
| 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"
| election, and desirous of voting for or
| against said amendment. shall deposit
in the ballot box a ticket whereon shall
| be printed or written the words: For
| the Amendment to Section of Article
| NJ OF the Constitution. Funding the
i state Indebtedness" and the words
| Against the Amendment to Section J
| of Article XI 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 of words on his
ballot.
i The votes cast for the adoption or
II rejection of said amendment shall be
II lcanvassed, and the result determined in
the manner prescribed by the laws of
the state for the canvass of votes for
representatives In congress.
III Section 4. Immediately upon ascer-
taining that said amendment to the
II Constitution has been adopted by the
people of the state. tho governor, state
auditor. state treasurer. attorney gen
eral and secretary of state shall meet
together at the effice of the state treas
urer. and organize as a debt funding Z
board, by slecting one of IT'S members
president and another secretary of said
board. Each member of said board anl
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