Cheyenne Wells record., 1922-10-06

PROPOSED AMENDMENT TO SEC
TION THEEE e, OF ARTICLE ~
o. THE STATE CONSTlTUTlON.

-
Notice is hereby given that at the
enth day of Novem 'er; A: D. 1922, there
cor. Ss os the a,as Of !Ss fer
approval or rejection. the following
Proposed amendment to the Constitution
petition under the Initiative and Refer
endum. which initiated petition con-
talned the signatures Of more than the
gal voters of the state OF Colorado.
law. and filed In the office Of the Sec.
July, a. ID. 1922. nt 11:15 o'clock A. NJ.
The authority for submitting such
proposed amendment to the Constitu.
OF the Constitution of the state of Colo
RADIO. providing for the Initiative and
Referendum.
AN AMENDMENT TO SECTION THREE
q! !E,: OF AnTiGhE III NI OF THE STATE
Ne IL Enncted by the People Of the
state Of Coiorndoi
Section three t3) of Article Eleven
lXI) Of the Constitution Of the State of
Colorado shall be amended 80 As to
read as follows:
Section 3. The state shall not con-
tract any ueot by loan IN any form.
except to PROVED. for casual deficiencies
OF revenue. eject public building for
the use OF the state suppress tnsurrec-
tion. d,aend the state. or. In time OF
war. assist in defending the United
States: and the amount of debt con-
tracted IN amy one year to provide for
deficiencies Of revenue. shall not ex-
coed one fourth Of u mill un each dol
lar OF .aIuuliun Of taxable property
within the state. and the aggregate
amount OF such uebl shall not uny time
exceed three-fouiths of mill ON each
dollar of said valuation. until the val
uation shall equal one hundred millions
Of dollars. and thereafter such debt
shall not eAcecd one hundred thousand
Hnila ~ tehf incurred in
one year FOR erection of public build
tnss shall not exceed one-hnif mill on
each dollar Of .uid valuation: and the
aggregate amount oi such debt shal!
never at any time exceed the sum Of
fifty thousand dollars texcept as pro-
vided In section five VI this articls).
and In III cases the valuation in this
section ! cntioned shull be that of the
assrssI. ent iast preceding the creation
OF said debt:
Provided. That in addition to the
amount Ut deDt that may lie incurred as
above. The state muy contract debt by
iSa" M aMG aM p.cr%sd n,.rss, y." 'hf a
the outstanding warrants issued by
this state dur,ns and TOR the years
1887. 1858. 1889. 1892. 1893. 1884 and
1897. SAID debt Ia be evidenced by reg
isteied coupon interest brurins funding
bands t. II" amount not exceeding 81
be necessary to La' said warrants and
interest the eon.
Said iu..di.,, bonds shall be dated
De.,hOer i. iviU. s.dil be payable at
q. op.iun Of The state OF Colorado ut
any iiinc utter tcn years from their
date. hh;ii be aDsoIuteIy due and pny-
able i'ity t5vJ years utter their date.
and SHAH be ui the denomination of
one hunuIed doiiuIs tSlUU.UUI each, or
any multiple tnc.rbl The interest
said bonds shai be payuhIe semi-annu-
ally ut me rate uf three per cent per
aInuIn at the office vi the State Treas
urei. or al som. place In the City OF
New York. U 5. a.. and the principal
M SS ht. IA h..
office Of Tia" Statc Treasurer.
No such bonds stall be Issued except
at pai ana ae.iu,d interest. and upon
the cnntrmporun"lus surrender and
cancellation ui u Ike amount Of prin-
cipai and interest of said warrants.
sud Dunus to an ainOunt euuuiiinE
the principal oI said warrants now held
by tue pubiic sciIooi iund shall be reg
tsteted by the State Auditor and State
Treasurer in the name anc for the
benefit "i and payable only to the said
fund. and shall not be transferable.
And all such bonds to an amount
equaIiinH the interest or said warrants
now held in the school fund shall be
euid by the State Treasurer at not less
than par and accrued interest. and the
proc .eds thereof paid into the school
FUND and distributed to the several
state for school purposes. In the pro-
poiti"ns and In the manner required
by law.
Ana provided further, that. in addi-
ton to the amount of debt that may
be Incurred above. the state may
contract Gebt by loan for the pur-
ss provided by law. by the State High
way Commission for the construction
and Improvement of public highways
be evidenced by registered coupon in
terest- bee rlnI bonds to an amount not
exceeding five million dollars.
Said bonds. to an extent not exceed
ins two million dollars. shall be dated
June first, 1871: not exceeding thre.
million duiirIs dated June first 1922:
and said bonds shall be payable at tho
time HfteI zen years from their re-
spectivc dates. and shall be OF the de-
ns%inatisn ssS Snv %, n6ty ,do dollars $4,000
terest on said bonds shall be payable
semi-annually at the rate of five per
cent tbse) per annum. at the office OF
in the city of New York. u, s. A.. nnd
the principal OF said bonds shall be
payable at the office of the State
Treasurer.
No such bonds s all be Issued except
at par and accrued interest.
Fifty per centum of the proceeds
from the sales of said bonds shall he
divided among the various counties Of
the state according to the mileage of
state routes and state highways With
in said counties. and the remaining
fifty per entum the proceeds from
the sale of said bonds shall be used by
the state Highway Commission only to
to the State OF Colorado by United
States c, grcssionai Acts
And provided further. that, In addi-
tion To the amount of debt that may be |
incurred as above. the State may con-
tract a debt by loan for the purpose OF
creating fund to be expended as pro-
yided by law, by the State Highway
Improvement Of public highways in the |
State Of Colorado: said debt to be evil
denced b, registered. coupon. Interest,"
bearing bonds to an amount not ex-
ceeding six million dollars.
Said bonds to an extent not exceed
tns one dillon Five Hundred Thou
sand Dollars. shall be dated June firnt |,
1923: not e%cecdinE One Million Five
Hundred THOUSAND Dollars shall be |
One Million Five Humid. II Thousand |
Dollars shall be dated juno first, 1925: |
not exceeding One Million Five Hun. |
dred Thousand Dollars shall be dated |
June first. 1926: said bonds shall bs |
lssued payable ser!aily. Tho last mn.
turing serie. Of each issue shall be
absolutely que and payable not exceed
the date thereof. and shall be OF tho |