Gilpin observer., 1912-10-10
con NsTIrUTIONAL AMENDMENT.


Notice Is hereby. given. that at the
General Election TO be held on the
there will be submitted to the quaiified
electors Of the State of Colorado, the
question OF amending the Constitution
The authority for submitting such
question is found in Senate Concurrent
f'I sien of the I Righfeenth % General as Assem- s-
bly,. which is. in words and figures. fol-
SGhaTTks HhhaTJka 5 GG THE THE sEAh5Fr5P s4A4h 5P
SoLoRAspo AN AMENDMENT TO
sEGTloN THREE GE, 81 ,t; OF AkTIGLE IL
FhGyGN FhoN 81 R faE ST sTATE TIE 6PSsrTo 6P coEo
E5SSHP sSRS r Rh9AsRE FSF 81 Be
AMOUNT NOT EXCEEDING TEN
Mill MMdLLkIoSSs ms D%obEL.AaKS % I. FoR THE FIR I /,
iMPRovEMENT OF PuBLic HfGH1
WAYS IN THE STATE.
Section !. Whereas. the prosperity
and comfort of the citizens of the State
of Colorado. as the state develops, are
becoming more and more dependent up
of the State. and under existing law 1t
is impracticable and often impossible to
construct and maintain highways
throughout the State SO that the same
shall be permanent and capable of the
highest and best utility and service:
Section 2. Now. therefore. BE It Re-
General Assembly. the House OF Repre-
sentatives concurrtng:
That there shall be submitted to the
qualified electors of the State of Colo
RADIO, at the next general election of
members OF the general assembly, for
their approval or rejection, the follow
the State OF Colorado. which, when rati-
fled by majority of those voting there
on. shall be valid as part of the said
Section Three (3) of Article Eleven
(XD OF the Constitution OF the State OF
Colorado shall be amended so as to read
follows:
Section 3. The state shall not
contract any debt by loan in any
form. except to provide for casual
deficiencies or revenue. erect pub
lie buildings for the use of the
state. suppress insurrection, defend
the state, or. in time OF war. assist
in defending the United States; and
the amount Of the debt contracted
In any one year to provide for de-
ceed one-fourth of n mill on each
dollar OF valuation OF taxable prop
erty within the state. and the ag-
gregate amount of such debt shall
not at any time exceed three
fourths of a mill on each dollar of
said valuation. until the valuation
dollars. and thereafter such debt
shall not exceed one hundred thou
sand dollars ns Snd the fet DEBT eIeaton anGnrred
public buildings shall not exceed
one-half mill on each dollar of said
xmosn. cf sneh an aeSs sha ssSes
at any time exceed the sum of fifty
y3Sss nd sssann aSls5s Ss ,S,. pre
ticle). and in all cases the valua.
tion in this section mentioned
preceding the creation of said debt:
provided. that. in addition to the
amount Of debt that may be In
conirsct debt by loan for the
Of paying the p5inshipai and
1857 iss fdsnt tsss ssa ,sss ths sssy yeaat 1854
by registered coupon interest bear
Ing funding bonds to an amount not
exceeding talls.ooo.oo. or so much
said warrants and interest thereon.
aSsa % s, ahs option 'de os ,Ss ssa s,ase se
Of Colorado al. any time after ten
years from their date, shall be ab-
ese years. after qe their heir Gate. and % shall 'S be
OF the denomination of One Hun
dred Dollars Nloo.oo) each. or any
said bonds shall be payable semi
annually at the rate OF three per
cent per annum at the office OF the
and the principal OF said bonds
shall be payable at the office of
the state treasurer.
mo such bonds shall be issued
except Mt par and accrued interest.
and upon the contemporaneous sur
render and cancellation OF like
amount of principal and interest
OF said warrants.
said bonds to an amount equal
ino the principal OF said warrants
now held by the public school fund
shall be reg list cred by the state au-
ditor and state treasurer In the
name and for the benefit OF md
payable only to the 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 fund. and distributed to the
several counties and school dis
triets Of the state for school pnr-