Gilpin observer., 1920-09-30

|
Constitution and the laws OF Colorado
for the handling of state funds.
Said aid bonds shall be issned in denomi
| hundred dollars. one hundred dollars.
and fifty dollars. in such proportion
auire.
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
tunity shall be given to the People of
COLORADO to purchase said bonds;
tSs tSe stsse she
Commission is hereby authorized to en-
ter into contracts with any railroad
company or companies for the use. of
each Of said tunnels. its approaches.
connections and equipment. for the
Transportation of persons and property.
such contract or contracts shall pro-
the railroad company or companies
| estimated by said Commission to be
sufficient to pay the interest upon the
POI ponds 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.
pany whose lines are so situated as to
make any OF said tunnels available for
| ton of persons and property. shall re-
| 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 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 by said , railroad; to determine the
railroad company. and to make an or
| der requiring said railroad company to
to be prescribed in the order of said
| Commission. and to enforce said order
& IN suit in in mandam9s s,nd is, in the Supreme
| Commission shall establish the legal
duty of any railroad company to COM
ply Herewith.
least once in each year. after public
hearing. fix the charges for the use of
said tunnel for purposes other than
! All orders of said Commission shall be-
some tS,n. final I,ol and bindins at the end OF
unless an appeal, which is hereby au-
| thorized. is prosecuted therefrom by
art party in interest to the
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.
Section 5-a: As soon as practicable
Railroad Commission shall publicly and
contemporaneously let. to the lowest
Commission.I contracts for the con-
struction and equipment of said tun-
nels. which Contracts. under proper
! safeguards guaranteed by bonds to be
| approved by the said State Railroad
Commission. shall provide for. the
| 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
one or more of said tunnels. or for
under it's own direction such construc-
tion Of all or any part OF said work as
may be necessary and advisable; pro
of the three tunnels shall be contemp-
oraneously conducted. Any contract or
or created. in excess of the amount an t
rsalized ID from from the sale Of said bonds
contracts. and in the purchase Of ma
terials. and in the employment of labor
for the construction of said tunnels.
the United States and. so far az practi-
cable. TO materials produced in the
State of Colorado: and contracts made
by said Commission for the construc-
ton OF all or any part Of said tunnels
shall provide for such preferences in
of material.
Section ga: The State Railroad
Commission shall exercise general SUI
bonds; the work of constructing said
tunnels. their connections and equip
ment. and of their operation IL neces-
sary. and shall appoint and commits
sion. subject to the approval of the
Governor. the appointees necessary to
CARDS see to the protection of the
rights and interests therein of the Peo-
pie of Colorado.
The funds arising from the sale of
said bonds shall be divided and placed
bX the State Treasurer in three sep
arate funds to be known The Mof-
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-
after a full investigation. The result
of said Investigation and the estimated
with its approaches equipment and
connections. shall be certified by said
Commission to the state Treasurer. and
no part of any of said funds shall be
used for any purpose other than the
payment OF the cost OF such tunnel. its
approaches. equipment and connections
until the cost of such tunnel is fully
paid.
After the bonds issued for the con-
and retired. the amount realized from
thus. the use of Of said tSnneis shall be apprc:
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
Dy tne CHAIRMAN anu OF sara
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
may be fixed by an act OF the General
Assembly. and the salaries OF ali 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.
Section S-a: All revenue of any kind
arising from the use Of said tunnels