Gilpin observer., 1912-10-24
CON NsTTrUTIONAL AMENDMENT.


Notice is hereby given. that at the
General Election to be held on the
Fifth day of November. A. D. 1912.
electors of the State of Colorado. the
question OF amending the Constitution
The authority for submitting such
question is found in Senate Concurrent
Resolution No. 43 OF the regular Ses-
bly,, which is. in words and figures. fol-
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coLoRADo AN. AMENpMENT 70
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iMPRoVEMENT OF PUBLfC HIGH
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 it
| is impracticable and often imposslbIe 10
construct am and maintain In, ihs hh,shways so,ys
shall be permanent and capable of the
highest and best utility and service:
solved by the Senate OF the Eighteenth
| General Assembly, the House OF Repre-
| sentatves concurring:
That there shall be submitted to the
| qualified electors of the State of Colo
| rado at the next general election OF
members of the general assembly. Tor
their approval or rejection. the follow
| ing amendment to the Constitution OF
| the State of Colorado. which. when rati-
| fled by a majority of those voting there,
on. shall be valid as part of the said
Section Three (s) of Article Eleven
! (XD OF the Constitution OF the state OF
Colorado shall be amended SO as 10 reao
as follows:
| Section 3. The state shall not
| contract any debt by loan In any
| form, except to provide for casual
| deficiencies or revenue, erect pup
| lie buildings for the use OF the
| state, suppress insurrection. defend
| in defending the United States: and
the amount of the debt contracted
| in any one year to provide Tor de-
| ficiencies of revenue, shall not ex-
| ceed one-fourth of mill on each
| dollar OF valuation of taxable prop
| sregate amount Of such debt shall
| not at any time exceed three.
| fourths of mill on each dollar OF
| shall equal one hundred millions Of
| dollars, and thereafter such debt
| sand dollars. and the debt incurred
| in any one year for erection OF
public buildings shall not exceed
|
amount amount" or such debt shall meyer
at any time exceed the sum OF iifty
| vided in section, five OF this ar
ticle). and in all cases the talua,
shall be that OF the assessment last
| preceding the creation Of said debt:
provided. that. In addition to the
contract q debt by loan for the
ppserSsS oh ne2ess OF a' al shs ou
standinr warrants issued by this
state dHu,ns, and ffSg fS. the The, years years
and 1857: said debt to be evidenced
by registered coupon interest bear.
Ing funding bonds sos to "a an amount so nes nSs
thereof as may be necessary to pay
said warrants and interest thereon.
dated a'p peeember l, isio. shall Se
payable at the option OF the state
OF Colorado at any time 9ter ten
| solutely due and payable fifty ,e0l
years after their date. and shall be
dred Dollars (SI00.O0) each. or any
multiple thereof. The interest on
said bonds shall be payable semi
cent per annum Mt the office of the
state treasurer, or at some place
in the sns CITY Hf NsY 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
amount of principal and interest
OF said warrants.
Said bonds to an amount equal-
inp the principal of said warrants
now held by the public school fund
shall be registered by the state au-
ditor and state treasurer In the
name and for the benefit OF and
| payable only to the said fund. and
shall not be transferable.
"And all such bonds to an
amount equaling tho interest on
said warrants now held In the
school fund shall be sold by the
state treasurer at not less than
par and -rued Interest. and the
proceeds thereof paid Into the
| school fund. aud distributed to the
several counties and school dis
.ricts Of the state for school pur-