The Elk Mountain pilot., 1920-09-30

In provided. which shall be handled as
cordance with the provisions OF the
Constitution and the laws of Colorado
Tor the handling of state funds.
Said bonds shall be issued in denomf-
htations Of one thousand dollars. five
hundred dollars. one hundred dollars
snd a n iity dollars. In such proportion
quire.
These bonds shall be exempt from all
state county. and municipal taxes; and
in conducting the sale OF said bonds.
sald Commission shall make public ad-
vtertisement thereof in newspapers of
tunity shall be given to the People of
colorado to purchase said bonds.
SECTION s-a; Following the adoption
OF this amendment the State Railroad
Commission is hereby authorized to en-
ter into contracts with any railroad
each of said tunnels, its approaches,
connections and equipment, for the
transportation of persons and property
Such contract or contracts shall pro-
vlue Tor the payment to the State by
the railroad company or companies
using any Of said tunnels of an amount
sufficient to pay the interest upon the
bonds issued to build such tunnel. for
and to create a sinking fund sufficient
to discharge the principal of said bonds
at their maturity
Section 4-a: If any railroad COM
pany. whose lines are so situated as to
make any of said tunnels available for
use by said company in the transporta-
ton of persons and property, shall re-
fuse to enter into such contract for
the use of said tunnel. then said Com.
mission is hereby authorized after due
notice, to hold a public judicial hear
ing for investigating as 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 cOmDanv and n mako "a nr
der requiring said railroad company to
use said tunnel on terms and conditions
Commission. and to enforce said order
In 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 hann , once in each year. after PUBLIC
said tunnel for purposes other than
railroad traffic as herein authorized.
come final and binding at the end of
thirty (30) days after their rendition
tbaexsd n,ess an appeal which i hereby aS
Court Of the State Of Colorado, which
and heard by. said Court.
No monopoly shall be granted either
BY E0ntraSt s;on or or BY the orders Of SAID
tunnels.
Section 5-a: As soon as practicable
after the sale of said bonds, the State
contemporaneously let, to the lowest
and best bidder in the opinion of said
C0mmission. e,a1a1is, contracts for the CON
nels which contracts, under proper
safeguards guaranteed by bonds to be
Commission. shall provide for the
prompt construction of said tunnels. In
case contracts satisfactory to said
then said Commission is authorized to
one or more Of said tunnels or for
parts OF said tunnels. and to carry on
under its own direction such construc-
may be necessary and advisable: pro-
vided. however. that the construction
oraneously conducted. Any contract or
or created. in excess OF the amount
shall be void. In the letting Of said
contracts. and in the purchase Of ma
for the CONSTRUCTION Of said tunnels,
the United States and. SO far t1sas as practi- T.
State of Colorado; and contracts made
by said Commission for the construc-
sS Of os Of ss
OF material.
section ia: The state Railroad
Commission shall exercise general SUI
pervision over the issuance of said
bonds. the work of constructing said
ment. and of their operation II neces-
sary. and shall appoint and commits
sion, subject to the approval of the
the conduct of said work. and in all re-
gaIds s,as.. see see to the prote,ctio1 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,
OF the eonstruetion a. Of each sia OF said tun Sns.
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
Commission to the State treasurer. and
no part of any of said funds shall be
used for any purpose other than, the
approaches. equipment and connections.
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 he apprc-
priated by the State Legislature for
the Improvement of conditions o: trans
portation in the State of Colorado.
Section Ia: The cost of the work
and materials for the construction and
equipment of each of said tunnels shall
be paid out of the fund apportioned
therefor, upon warrants drawn thereon
Commission and approved by the En-
gineer of said Commission and the
State Auditing Board: and warrants
for the payment of all other expenses
Incident to the work of said Commits
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
rants Signed by the Chairman and Sec
retary of said Commission and ap-
proved by the State Auditing Board.
Interest upon bonds issued to build
said tunnels accruing. during the Pc