Monte Vista journal and Monte Vista graphic-reporter., 1922-10-06

fmOPosED AMENDMENT T0 sEc.
TiON THREE tSl or ARTICLE. ~
a.: THE NTATE CONNTITUTlON.

Notice is hereby given that a, th-
General election t. be held on the Sew
viii be submitted I, the qualified elsc-
tors OF the state of Colorado. for their
approval or rejection. the following
proposed amendment to the C"nstitution
of the state OF Colorado. initiated by
petition under the Initiative and Refer
~ndum which initiated petition con
required number. to-wtt SO Of the le-
eal voters Of the state OF Coiorad"
duty verified In accordance with the
law, and filed In the office OF the Sec
Ietary OF State on the Fifteenth day Of
July. A. d. 1922. Vt HAS o'clock A. N.
The authority for submitting such
proposed amendment to the constttu-
tion 10 found In Section ! Of Article v
of the Constitution Il the state Of Colo.
Iado. providing for the Initiative and
referendum.
AN AMENDMENT TO SECTION THREH
90 OF ARTICLE xi OF THE STATE
H~ u Eaaetes ~ tie PeeSts 81 tie
State Of Csissssist
Section three tD OF Article Eleven
tAi) Of the Constitution Of the State Of
Colorado shall be amended 50 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 deficiencies
Si revenue erect pubic building for
the use OF the state suppress insurrec-
ZION. daend the state. or. in time of
war. assist In defending the United
states; and the amount of debt CON
tfheted In any one year to provide for
ueiiciencies OF revenue. shall not eA
cced one-fouith OF a mill on each dol
within the state. and the aggregate
amount OF such debt shall not any time
exceed three fourths OF n mill ON .nch
uolIdr OF said valuation. until the wall
untiOn shall equal one hundred millions
OF dollars, and thereafter such debt
shall not exceed ON hundred thousand
hH Htat a .t,.
ON" year iuI erection OF public build
inis shall not exceed Un--hnif mill On
'acb dollar OF saih valuation. and IN"
1EEicEhte amount OF such debt shalt
never at any time exceed the sum Of
Iiity thousand dulibrs teNcept as pro-
Nidcd in section i've OF this artIcIup
and in AL cases the valuation in this
s"Ctiun cntion-d shall he that OF th.
hssesst "nt iast preceding the creation
Of SHid debt
Provided That IN addition to th,.
amount " debt that may be Incurred us
above, the state may contract a debt b,
roam ioi the puiausy of paying ths
Ifincilal aud accrued interest OF ali
the outstanding warrants Issued by
this state duTing and for the ycars
lss.. 1883. 1883 1899. 1893. 1884 ana
1881 said debt to b, evidenced by reg
1Et"f.d coupon interest bearing findtn.
bonds to al amount not exceeding ga
ilS.OuO,Ov, oi =" much thereof a. may
interest tn. con
said fundins bonds shall b. dated
december /, 1910. shall be pay.bl. nj
III, option OF the state Of cuis,rsdo Al
any time afIet ten years from thclr
datr. shall be absolutely due and pay
"blc ilfty t5OJ years after their date
hnd shaIl be OF the denomination OF
one hunhtcd doiiafs tSIVO.vO, each, or
Any multiple tbefod. The interest on
eaid bonds shHii be payable semi -annu.
ally at the rat. OF three per cent p.r
Hnhum at the office Of the Stat. Treas
Gfur, OF al som" place In the City of
Ne" hotk. =. >. A.. aud the principal
"i sald bonds shail be payable at the
oifice Of thv stat. Treasurer.
No such bonds shall be issued ,,,.nt
at pai and accrued interest and upon
III" coHtrtgpuran"lgs surrender and
cipgl and Interest Of said warrants
said bonds to an amount .,u,tl,n.
~. principal OF said warrants nov. held
hS thy pubhc school iund shah b. reg.
ist"T"d by the STATE Auditor and Stat.
treasurer In thr name and for tn.
benefit OF and payable only to the said
fund. and shall not b. transferable.
And all such bonds To- an amount
.gualiing the interest or said warrant.
now hcld In the school fund shall b,
s"Id by the state Treasurer at not less
than par and accfu II interest. and the
roc s.ds thereof paid into TIA. s.noui
fund ana distributed To tn. sry.r,i
counties ara school districts of m.
state Tor school purposes. In tn. pro-
hy law. ' Wv manner required
Ana provided further. that, la add.
ttun tn tue amount OF debt TINT may
b. in,uGIrd a. above. the slpt. max
contract a trhi 10 loan Tor the pur-
IuSc uf crrHtiuE fund To b. .Np.n..a
as provided by int.. by the State ulrh-
way ounihllsslnn f"t thr construction
In the state ut Colorado. said debt 10
be evidenced by r~giHt-r.d cotpon In
tyTert- bed ring bonds to an nm,,,n, n,,,
exceeding i've miili"n dollars.
said bonds. To an extent not exceed
ms i've mitiion dollars shall b.. dated
June If.tt 1871 not exceeding thr.,
and said honda shall be payanir m, ~.
option Of IN. state of Colorado at any
I'm" after ten yam from their re-
nomination of ufy dollar. $50 90,
each OF any multiple thereof Tn. In
'.,sst 90 -sid bonds shall be payabi.
the stat. Treasurer. OF at SOM. pi,rs
IN IN" tiiy OF New York a. \ A. and
ayable a, the office OF tn. stat,
Treasurer. "''
No such eonds al be Issued except
81 par ana tccturd int-r,st
flily pet c"ntum OF IN. pra,..a
iiofi IN. sales OF ~aid bunds shall he
ulNld.d among th" various counts. of
tn. state according to the mileage n.
etat. routes and state hishway. ,,,,b
IN said counties. and tn. rem, min.
!n's per 'htum the proceed. frmm
the sale OF said bond. shall b, u..y D..
tn" state Highway commi..i,n ami. H.
meet and accept Federal aid swaf,,,a
70 the state OF Colorado by United
states G. grrsrionai Arts
Abd provided further that a, .s,,
sl"n u the amount VI debt that ma. b,
Incurred as above. the State may con.
Laet doh, b, loan for the purpns. o,
.ic"tihs fuhd To h- expended a. p,o.
Niuvd b3 law. by the state Hlub..x
l'rpaftn for the con.tru,tion .ns
Improvement oi publ. hisb~ay. in ths
stat" of Colorado! SAID debt to b. ovi.
n'ht.d b, f"pist"icd coupon in,.t..t.
Bearing bonds to an amount mi .r
'""dins ,Is million doiiafs
said bonds TO an extent not exceed.
ins Ono Nillioh Five Hundred Thou.
tand Dollars, shali be- dated Junr ~,
!s.si not ec"ding One Million NV.
hundred Thousand Dollar. .hsII n.
dated June firat 1874. not .,r,,ainv
one Million Five iiund. / Thousand
paia,- rhall be dated June first. 1876
not ea,''ulhs onr Million Five Hun.
dr"d Thousand boIiars shall b. d.s.d
June hrst is:s. .sid bond. .hsii b..
Issued pa>abl. .rtiaiiy, The ia.t ms.
af