The Ordway new era., 1920-10-08

in provided, which shall be handled as
| cordance with the provisions of the
Constitution and the laws OF Colorado
for the handling of state funds.
Said bonds shall be issued in denomi
nations of one thousand dollars, five
and fifty dollars. in such proportion
as the public demand therefor may re-
quire.
These bonds shall be exempt from all
state. county. and municipal taxes; and
in conducting the sale of said bonds.
said Commission shall make public ad-
vertisement thereof in newspapers OF
the State of Colorado. and full oppor-
tunity shall be given to the People of
Colorado to purchase said bonds.
Section ga: Following the adoption
OF this amendment, the State Railroad
Commission is hereby authorized to en-.
company companies for the use OF
each of said tunnels its approaches.
transportation of persons and property.
such contract or contracts shall pro-
the railroad company or companies
using any of saie tunnels of an amount
estimated by said Commission TO be
sufficient to pay the interest upon the
| bonds issued to build such tunnel for
the proper maintenance OF said tunnel.
and to create a sinking fund sufficient
| to discharge the principal of said bonds
at their maturity.
Section 4-a: If any railroad COM
make any of said tunnels available for
use by said company in the transporta-
fuse to enter into such a contract for
the use of said tunnel then said Com
mission is hereby authorized, after due
notice. to hold public Judicial hear
ing for investigating us to whether the
use of said tunnel would decrease the
dangers. delays and expense of the
transportation of persons and property
| by said railroad; to determine the
value of the use of said tunnel by said
railroad company. and to make an or
der requiring said railroad company to
| use said tunnel on terms and conditions
1
Commission, and to enforce said order
in a suit In mandamus in the supreme
| Commission shall establish the legal
| duty of any railroad company to COM
| ply Herewith.
The said Commission shall also at
| least once in each year, after a public
| hearing. fix the charges for the use of
said tunnel for purposes other than
| railroad traffic as herein authorized.
All orders of said Commission shall be-
thirty 600 days after their rendition
| unless an appeal. which is hereby au-
thorized. is prosecuted therefrom by
any party in interest to the supreme
| Court of the State of Colorado. which
said appeal shall be promptly docketed
| and heard by said Court.
No monopoly shall be granted either
by contract or by the orders of said
Commission for the use Of any of said
tunnels.
after the sale OF said bonds, the State
Railroad Commission shall publicly and
and best bidder in the opinion OF said
Commission, contracts Tor the con-
structlon and equipment of said tun-
nels. which contracts. under proper
safeguards guaranteed by bonds to be
approved by the said state Railroad
prompt construction Of said tunnels. In
case contracts satisfactory to said
Commission for the construction of all
or any OF said tunnels cannot be made
then said Commission Is authorized to
make contracts for the construction OF
parts of said tunnels. and to carry on
under Its own direction such construc-
ton of all or any part of said work as
may be necessary and advisable: pro-
vided. however. that the construction
oraneously conducted. Any contract or
liability. attempted to be entered into
realized from the sale Of said bonds;
shall be void: In the letting of said
eontraets ad and I'd in In the purchase OF ma ma
for the construction of said tunnels.
preference shall be given to citizens OF
cable. to materials produced in the
State of Colorado: and contracts made
by said Commission for the construc-
tion of all or any part of said tunnels
shall provide for such preferences in
the employment of labor and purchase
Section Ga: The State Railroad
Commission shall exercise general SUI
bonds. the work of constructing said
tunnels. their connections and equip
sary. and shall appoint and commits
sion. subject to the approval of the
the conduct of said work. and in ali re-
cards see to the protection of the
pie of Colorado.
The funds arising from the sale of
said bonds shall be divided and placed
by the State Treasurer in three sep
fat Tunnel Fund. The Monarch Tunnel
Fund and The San Juan Tunnel Fund.
in the proportion of the estimated cost
of the construction of each OF said tun-
nels as determined by said Commission
after full Investigation. The result
of said Investigation and the estimated
size and cost of each of said tunnels:
with its approaches. equipment and
connections. shall be certified by said
Commission to the State Treasurer, and
used for any purpose other than the
payment of the cost of such tunnel. its
until the cost of such tunnel is fully
paid.
After the bonds issued for the con-
struction of said tunnels shall be paid
and retired. the amount realized from
the use of said tunnels shall be apprc-
the Improvement of conditions o: trans
portation in the State of Colorado.
Section Ia: The cost OF the work
equipment of each of said tunnels shall
be paid out of the fund apportioned
by the Chairman and Secretary of said
Commission and approved by the En-
ElneeF sara commission the
State Auditing Board. and warrants
for the payment of all other expenses
Incident to the work of said Commis-
sion. Including the salaries of the MEM
bers of said Commission as the same
may be fixed by an act OF the General
Assembly. and the salaries of all ap-
pointees and employees of said Com
mission as the same may be fixed by
said Commission with the approval OF
the Governor. shall be-paid proportion
ately out OF said three funds. on war
retary of said Commission and ap-
proved by the State Auditing Board.
Interest upon bonds issued to build
said tunnels accruing during the Pc
riod of their construction shall be ac-
counted as part of the cost OF the con-
struction.