The daily sentinel., 1910-10-20
Be It Enacted by the General Assembly
of the Stata a

warrants Tor the year isss 'l9g's bl93g2'ssssss'fst "a
Warrants for the year 1855 Iis.227.54
| warrants for the year 1899. 5.767.3O
| Warrants for the year 1884. 3s,Si6.i3
Warrants for the year 1897. 2.4s5.9S
All Of which warrants were duly pre-
| sented for payment. and bear interest
at the rate of six per cent. per anuum.
and interest. on November 3Oth, 1910, to
| the sum Of S2.li4,I62.96:
| And. Whereas. the major portion Of
| the above indebtedness Is held in the
| state school fund 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 or
| 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, superintendents Of public in
| struction. state auditors. treasurers OF
state, and other elective and
| appointlNe executive officers and
employees, Judges of the su
preme, district and criminal courts
executive and judicial Incidental and
contingent expenses; and expenses In
CURED for the erection OF buildings.
| and the maintenance OF the state peni-
tentiary, insane asylum, Industrial
| school, reformatory. agricultural col
lege and soldiers and sailors home;
| and,
| 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-
nAss' should be funded at a lower rate
| of Interest; therefore
] m ha cT
| to the qualified electors of the state
| OF Colorado, at the next general elec-
| tion OF members of the General Assem-
| bly,, for their approval or rejection, the
| following amendment to the Constitu-
| ton of the state of Colorado. which,
| when ratified by a majority of those
| voting thereon. shall be valid as a part
| Of the Constitution, to-wir:
Section Three (3l of Article Eleven
| tND Of the Constitution OF the State of
| Colorado SHAH be amended so to
| read as follows:
| 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 9nd the AMOUNT of the debt con
| tracted in any ono 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
| thres-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
| dollars (sScept as provided In section
five OF this articls). and in all cases the
l " q q In tlNt, t,n1
shall be that OF the assessment last
preceding tn. creation of said debt.
9nS, PTor'a.a 'hs, Sse, in sss ssdi'Gn TO the be
incurred. as above, the state may
contract a. debt by loan for the
Sssrusa Of Payns of 's Ss aps
| standing warrants Issued by this state
during and FOR the years; 1ss!, 1sSs
debt to be evidenced BY registered cou-
pom interest bearing funding bonds to
an amount not exceeding S2.llb.o0o.0o.
or so much thereof as may be necessary
to pay said warrants and interest
Said funding bond, shall be
| dated December lst, 1910, shall be pay
able at the option OF the State of coio-
| RADIO at any time after ten years from
their date; shall be absolutely due ,s.,a and
| date, and shall be OF the denomination
OF One Hundred Dollars Hloo.oo) each,
on on said said bonds shaii be payable semi an
per snnum 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.
| at par and accrued interest, and upon
| the contemporaneous surrender and
cancellation OF IKE snount Of prin-
| rinal and Interest of said warrants.
| said bonds to an amount eaualing
the principal of sail warrants now held
by the, PUBLIC school FUND shan be reg
| treasurer in the name and for the bene-
III OF and payable only to the said fund.
| and shall not be transferable.
And All such bonds to an amount
| eouaiins 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
fund. and distributed 70 the severa. s
Il state for school purposes, in the pro-
L portions and in the manner required by
Section 5. Each eleetor voting at said
II election, and desirous OF voting for or
against said amendment. shall deposit
| in the ballot box ~ ticket whereon shall
be printed or written the words: For
II the Amendment to Section of Article
II Of ths,G5s.t. the Go5.,itssi0n. F1ns'ns 18th. the
Against the Amendment to Section }
of Article XII OF the Constitution. Fund
Indicate his approval or disapprovai by
placing a cross CX) 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
representative 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
together at the office Of the state treas
urer and organize as q debt -funding Z
board, by slecting one of Its members
president and another secretary Of said
| board. Each member of said board and