The Meeker herald., 1922-10-28

PROPOSED AMENDMENT TO SEC.
TON THREE ~ OF ARTICLE H
o. THE STATE CONSTITUTION.

o. THE STATE CONSTITUTION.
Notice IL hereby given that at tho
enth day OF Novem ,er. A. d. 1879. there
Will be submitted {, the qualified cleo
tors Of the state II Colorado. ior their
proposed amendment to the Constitution
of the state OF Colorado. initiated by
S1 Sss the nnd hsasr
required number. ito-wit 500 of the To-
duly verified. in accordance with the
law. and filed In the office of the Sec.
Rotary OF State on the Fifteenth day OF
July, A. d. 1922, at ll:lb o'clock A. NJ.
The authority for submitting such
Proposed amendment to the Constitu;,
tton Ii found In Section ! OF Article
of the Constitution II the state OF Colo.
RADIO. providing for the Initiative and
Referendum.
AN AMENDMENT TO SECTION THREE
(S) OF ARTICLE xI OF THE STATE
CONSTITUTION.
Be II Enacted by the People Of the
state of Coloradoi
Section three ts) of Article Eleven
(xI) of the Constitution of the State OF
Colorado shall be amended 30 as to
read as follows:
tract any debt by loan in my form.
except to provide for casual deficiencies
q revenue: erect public building for
tion. dGend the state. or. In time of
war. assist in defending the United
States: and the amount OF debt con-
tracted In any one year to provide for
deficiencies of revenue. shall not ex-
coed one-fourth OF a mill on each dol
within the state, and the sssregats
amount OF such debt shall not any time
exceed .hree- fourths OF a mill on each
dollar OF said valuation. until the val
uation shall equal one hundred millions
Of dollars. and thereafter such debt
In n
one year for erection OF public build
ings shall not exceed one- half mill on
aggregate amount of such debt shal
never at ANY time exceed the sum Of
fifty thousand dollars Except as pro-
vided In Section five OF this article).
and In all cases the valuation In this
section enttoned shnll be that Of the
assessment last preceding the creation
Provided. That in addition to tho
amount OF debt that may be Incurred as
above. the state may contract u debt by
principal and accrued interest Of ali
the outstanding warrants Issued by
th TIL, s ,sss during s and for the years
1897. said debt to be evidenced by reg
tstered coupon interest bearing funding
1 It 0so 90 10 a. amount c nor eHeeedins VI,
be necessary to pa" said warrants and
interest thereon.
Said funding bonds shall be dated
tn. option of the State OF Colorado at
any tilne after ten years from their
date. shall be absolutely due and pay
able iifty 500 years after their date,
and shall be of the denomination OF
one hundred dollars tl00.OO) each, or
ny d Snnd sha he Re uhs snteEssa on
ally at the rate of three per cent per
annum At the office of the State Treas
New York. u. s. *, and the principal
OF said bonds shall be payable at the
office of the State Treasurer
No such bonds shall be ISSUED except
at par and accrued interest, and upon
the contempornncous surrender and
cancellation Of u Ike amount OF prin-
cipal and interest Of said warrants.
Said bonds to an amount eauallinx
the pripcipai of said warrants now held
by the public school funE shall be reg
istered by the State Auditor and State
benefit of and payable only to the said
fund. and shall no, be transferable.
And all such bonds to an amount
eQuallinS the interest on said warrants
now held In the school FUND shall be
sold by the State Treasurer at not less
than par and accrued interest. and the
fund and distributed to the several
counties and school districts OF the
state for school purposes. in the pro-
B y i.W. anu " '"e manner required
And provided further. that. in add
tion to the amount of debt that may
contract 6ebt by loan for the pur,
pose of creating fund to be expended
as provided by law. by the State High
and Improvement OF public highways
In the State of Colorado: said debt to
be evidenced by registered coupon In
exceeding five million dollars.
Said bonds, to an extent not exceed
Ing two 1r milii Lon, dollars shall be dated
million dollars. dated June first. 1922:
and said bonds shall be payable at the
option OF the State of Colorado at any
spective dates. and shall be OF tho de-
nomination Of fifty dollars $3.50 Oo)
terest on said bonds shall be payable
semi-annually at the rate of five per
sent tsS5 Per s;ln at the Office OF
in the City OF New York. u. s. A. and
the principal Of said bonds shall be
payable at the office of the State
No such bonds $ all be Issued except
at par and accrued interest.
FROM Hft u, per sp,. sep IT. q the proceeds
divided among the various counties of
the J., state according 70 the mileage OF
in said counties. and he ew rsma MIN.
the sale of said bonds shall be used by
meet and accept Federal aid awarded
to the State Of Colorado by United
states c. Sressional Acts.
And provided further. that. In add
Z ton to the amount OF debt that may be
incurred as above. the State may con-
tract debt by loan for the purpose OF
creating fund to he expended as pro-
vided by law. by the State Highway
Departm- 1. for the construction and
Improvement OF public highways in the
State OF Colorado; said debt to be evil
denced b, registered. coupon. interest
bearing bonds to amount not ex-
ceeding six million dollars
Ga da ~
Ing One tillion Five Hundred Thou.
sand Dollars. shall be dated June first.
1928; not exceeding One Million Five
dated June first 1924; not exceeding
One Million Five Humid. I'd Thousand
Dollars shall be dated juno first. 1925:
not exceeding One Million Five Hun.
bred Thousand Dollars shall be dated
June first, 1926; said bonds shall be