The Idaho Springs siftings-news., 1920-09-28

CONSTITUTIONAL AMENDMENT.

CONSTITUTIONAL AMENDMENT.
Notice is hereby given, that at the
ond day of November, A. D. 1920. there
| will be submitted to the qualified cleo
tors Of the State of COLORADO the. ques-.
said state
The authority for submitting such
question is found in SECTION Two (2)
the State of Colorado. and in House
| Concurrent Resolution No. of the
Twenty-second General Assembly.
HOUSE CONCURRENT RESOLUTION.
Section. l.. Whereas. The prosperity
ops. are becoming more and more de-
pendent upon the condition of the pub
@ esagf aw H Hf IS the sns unds and
maintain highways throughout the the
nent and capable Of the highest and
best utility and service:
Section 2. Now. Therefore. Be 1t Re-
IL fSs Ry the House Of
sembly. the Senate concurring:
That there shall be submitted to the
rado, at the next general election of
members of the General Assembly, for
their approval or rejection, the follow.
the State of Colorado, which, when
ratified by majority of those voting
thereon. shall be valid as part of the
said Constitution. to-wit:
Section three (3) of Article Eleven
(xI( of the Constitution of the State
of Colorado shall be amended SO as to
read as follows:
Section 3. The state shall not con-
tract any debt by loan in any form.
except to. provide for casual defi
ings for the use of the state. suppress
insurrection. defend the state. or. in
time Of war, assist in defending the
contracted in any one year to provide
Tor deficiencies of revenue. shall not
soar dofssd Of Of Of nil on safn
amount q such aebf shall not no any
each dollar of said valuation, until the
valuation shall equal one hundred mil
lions Of dollars. and thereafter such
thousand dollars; and the debt in
cprred @ ,,id in an, any one yea, year for erection
m ON saeh doar Of sad
valuation: and the aggregate amount
of such debt shall never at any time
iarst except as provided in Section five
of this article), and in all cases the
valuation in this section mentioned
shall be that of the assessment last
preceding the creation of said debt;
"Provided, That. in addition to the
amount of debt that may be incurred
IL
by loan for the purpose. Of paying. the
principal and accrued interest of all
the outstanding warrants issued by this
1888, 1883. 1892 1898. 1894 and 1897,
said debt to be evidenced by registered
coupon interest bearing funding bonds
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
at any time after ten years from their
date. shall be absolutely due and pay
and shall be of the denomination of
one hundred dollars. (S100.00) each, or
any multiple thereof. The interest on
nually at the rate of three per cent
per annum at the office of the State
Treasurer; or at, some place in the
principal of said bonds shall be pay
able at the office of the State Treas
urer.
at par and accrued interest, and upon
the contemporaneous surrender and
cancellation of a like amount Of prin-
cipa1 and interest of said warrants.
"Said bonds to an amount equalling
the principal of said warrants now held
by the public sehe9i fund shall be
State Treasurer in the name and for
the benefit of and payable only to
the said fund, and shall not be trans
And all such bonds to an amount
equalling the interest on said warrants
sold by The state Treasurer at not not i less rs
than par and accrued interest. and the
proceeds thereof paid into the school
and school districts of the
state for school purposes. in the pro-
portions and in the manner required
by law