The Ordway new era., 1920-10-08

coNsTITUTIoNAL AMENDMENT.

CONSTITUTIONAL AMENDMENT.
Notice is hereby given, that at the
General Election to be held on the sec
ond day OF November. A. d. 1920. there
will be submitted to the qualified cleo
tors Of the state of COLORADO the quese
The authority for submitting such
of Article XIX of the Constitution OF
the State OF Colorado. and in House
Goneurrent Resolution d0ara No. samb Of biy the
which is. in words and figures. follow
ing, viz:
HOUSE CONCURRENT RESOLUTION:
and comfort of the citizens of the
State of Colorado as the State devel-
pendent upon the condition Of the pub
existing law 4 is impracticable and
maintain MAIN inpRisiEse Highways thronshout the
STATE that fhs sane n tse es and
best utility and service:
Section 2. Now. Therefore. Be 1t Re
solved. by the House of Representa-
tives OF the Twenty-second General AS
sembly, the Senate concurring:
That there shall be submitted to the
qualified electors of the State of Colo
members of the General Assembly. for
their approval or retection. the foIiow
ratified by 9. majority of those voting
thereon, shall be valid a part of the
Section three ts) of Article Eleven
(XD of the Constitution OF the State
Of COLORADO & shall be amended SO as to
tract any debt by loan in any form.
except to. provide for casual def
| ings for the use of the state. suppress
insurreetion. defend the state, or. In
time of war. assist in defending the
nj
contracted in any one year to provide
for deficiencies OF revenue. shall not
doiiar ofia of VARIATION Of taxable property m
within the state state AND and the, the aggregate
time exceed three fourths OF a mill on
ench dollar of said valuation. until the
valuation shall equal one hundred mil
debt shall not exceed one hundred
thousand dollars; and the debt in
OF pGbe n bnd3gs sSa not exeeed
one-half mill on each dollar OF said
valuations: and the aggregate amount
exceed the sum Of fifty thousand del
lars( except as, provided in Section five
valuation in this section mentioned
shall be that of the assessment last
preceding the creation Of said debt;
amount of debt that may be incurred
as above. the state may contract debt
principal and accrued interest OF all
the outstanding warrants issued by this
state during and for the years 1887.
said debt to be evidenced by registered
coupon interest bearing funding bonds
to an amount not exceeding s2.115.-
10000, or so much thereof as may be
necessary to pay said warrants and in
terest thereon.
said funding bonds shall be dated
December 1st, 1910. shall be payable
at the option Of the State Of Colorado
date, shall be absolutely due and pay
able fifty !5O) years after their date:
and shall be of the denomination of
one hundred dollars, sI9o.o0l each, or
said bonds shall be payable semi-an-
nualIy at the rate OF three per cent
per annum at the office OF the State
City of New York, u. S. A, and the
principal of said bonds shall be pay
able at the office of the State Treas-
mo such bonds shall be issued except
at par and accrued interest. and upon
the contemporaneous surrender and
cancellation of a like amount of prin-
said bonds to an amount equallinE
the principal of said warrants now held
by the public school fund shall be
registered by the State Auditor and
the benefit of and payable only to
the said fund. and shall not be trans
ferable.
equalling tho interest on said warrants
now held in the school fund shall be
sold by tho State Treasurer at not less
than par and accrued interest. and the
proceeds thereof paid Into the school
fund and distributed to tho several
counties and school districts of tho
state for school purposes, in the pro-
portions and in the manner required
by law.