Gilpin observer., 1920-10-07

CONSTITUTIONAL AMENDMENT.
=. Notice is hereby given: that at the
General Election to be held on the sec
will be submitted to the qualified cleo
tors of the state of Colorado the ques-
tion of amending the Constitution of
said state.
question is found in Section Two (2)
OF Article XIX of the Constitution OF
SaeG OF So the
Twenty General Assembly.
which is. in words and figures. follow
ing. viz:
HOUSE CONCURRENT RESOLUTION.
Section !. Whereas. The prosperity
and comfort of the citizens of the
State of Colorado. as the State devel-
pendent upon the condition of the pub
lie highways of the state. and under
existing law il is impractieable and
MAIN maintan pSisi Sishways tbrnushout E9n the the
State so that the same shall be perma-
nent and capable of the highest 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;
qualified electors OF the State of Colo
rado, at the next general election of
members of the General Assembly. for
their approval or rejection. the follow
ing amendment to the Constitution of
the State of Colorado, which when
ratified by u majority of those voting
thereon. shall be valid as part of the
said Constitution. to-wit:
Section three go of Article Eleven
(XD of the Constitution of the State
of Colorado shall be amended 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 defl
ings for the use of the state. suppress
insurrection. defend the state, or. in
time of war. assist in defending the
United States: and the amount of debt
contracted in any one year to provide
for deficiencies of revenue, shall not
sSsr Slsed OF Of Of %
amount of, such debt shall not any
each dollar of said valuation. until ths
valuation shall equal one hundred mil
lions Of dollars. and thereafter such
thousand dollars; and the debt in
CURED in any one year for erection
Of public buildings shall not exceed
valuation: and the aggregate amount
of such debt shall never at any time
exceed the sum of fty thsns,nI ec
OF this article). and in all cases the
valuation sl1 m in this section mentioned
preceding the creation OF said debt:
Crowded. That, in addition to the
amount of debt that may be incurred
as above. the state may contract a debt
by. loan for the purpose. of paying the
principal and accrued interest OF all
the outstanding warrants issued by this
isss. 1883. iss2. 1893. 1894 and and 1851.
said debt to be evidenced by registered
coupon interest bearing funding. bonds
to an amount not exceeding $2115,-
10000. or so much thereof as may be
necessary to pay said warrants and in
Said funding bonds shall be dated
December. LIST. 1910. shall be payable
at the option of the State Of Colorado
date. shall be absolutely due and pay
able fifty t50) years after their date.
and shall be of the denomination OF
any. multiple thereof. The interest on
said bonds shall be payable scmi-an-
nusiiy nUs at the rate fo 9f three per Gent
city Of New York. G' Z; S. p'ag' A.. ana the the
able ut 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 like amount Of prin-
cipal and interest OF said warrants.
said bonds to an amount equalling
the principal Of said warrants now held
by the public school fund shall be
state Treasarer III in the the name m''sG and InT for
the benefit of and payable only to
the said fund. and shall not be trans
ferable.
And all such bonds to an amount
equalling the interest on said warrants
now held in the school fund shall be
than par and accrued interest. and tho
proceeds thereof paid into the school
fund and distributed to the several
counties and school districts OF tho
state for school purposes. In tho pro-
portions and in the manner required