The Democrat-herald., 1922-10-06

PROPOSED AMENDMENT TO SEC.
T1oS TiinEE (s) OF AnTICLE n

caHo,.; No,i9e .s.,9s is hereby given that at the
VIII be submitted I, the qualified eiec.
spprsy.! or rejection, the following Wing
OF the state Of Colorado. initiated by
petition under tho Initiative and Refer
s;n;6un1. Which Initiated petition con-
REQUIRED number. (to-wit sss) Of the ie.
gal voters Of tho state Of Colorado.
and ed In tho hseaqnaee offies Of w.s the seee tee
retary OF State on the Fifteenth day Of
July. A. D. 1922. at Il:l5 O'clock 4. NJ.
n,dhe..a dhe aauthority a"s1y, for submitting such
tion Is found in Section Of Article v
OF tho Constitution II the state OF Colo
Refcfendum.
AN AMENDMENT TO SECTION THREE
G1NsT,4I,TIGHE t2} oE AHTIGkE Ai OF THE STATE
ne .,l. !. E:.s!ea as y the People Of the
SxD Of the Constitution OF the State OF
Colorado shall be amended SO as to
read as follows:
Section J; The state shall not con-
tract any debt by loan In any form,
except to provide for casual deficiencies
9b tbo revenTe; Hs. erect public building for
tion. d,send tho state. or, in time OF
s,. gss.. assist in defending the United
trected in any ono year to provide Tor
defieiencies Of revenue. shall not ex-
seed one-fourth of . mill on each dol
amount Of such debt shall not any time
ddaSS,sed daS,s q mthreeIfouIth. rec Of q MILL on each
ustion shall equal one hundred millions
Of dollars. and thereafter such debt
dollars: and the debt % incurred "S in any
ono year Tor erection of public build
,nss a.ss shsli shall not exceed one;h.lf mill on
never at any time exceed the sum OF
sdsd in seesoa aoi,Ts vs 9; s, a.
and In all cases tho valuation in this
section r.entioned shall bo that Of the
Of said debt: 'Hs inc efea'''"
Provided. That in addition TO the
smount snmnn & Of debt debt that may Be incurred as
loan for the purpose Of paying th,.
ps..!ncip:! and accrued interest Of ali
.I ,:.s isss ,s.s :aa 1855 81 'hs is.iy ysass sns
1921. said debt 70 be evidenced BY reg
bonds to an amount not exceeding S2,-
1lb.ooo.oo. or so much thereof a. may
,IrS:s be nsss'ssry to paw said warrants and
~ option q ths STATE % Of y dSissads sSis .. ::
.as .s.ousss .en sS.rs sus from s1a ;ssi. n..
Ia :h. '' s.ssminssioa ssss5 sssa dat; 81
any, multiple thereof. Tho Interest on
ally a. Che ~ rate e,; Of three Per cent per
HEor. or at some place In tho City Of
New .,iT Eofk; ha,; y; ga. : A. and the principal
office OF the State Tressurer. '"e
No such bonds shall be issued cxcept
tho contemporaneous surrender and
cipal and interest Of said warrants. It's
,Ess n RI IPs.nsiRsI R. Of si ;s.is s.sssns. ss now hsiss
.Isd Sy tue stsss Xusitor a snel and O. state sss
TreasureF In tho name and for the
ns snd Si :sa :Ssp Ss e. The said
And all such bonds to an amount
now held In the schooi fund shall be
Ssn Bar .hs and intsrc At net les.
Proceeds thereof paid into the school
fund and dI'trIbatsd io INC several
state for school purposes. In the pro.
by law. "' ''''''''
And provided further. that, In addi-
ton to the amount OF debt that may
be incurred as, a. above. the state may
~ provided BY law: by the State HisS.
way Commission. for the constrnetion
n IN. g,s,s os Sa Sses s ss,
be evidenced by resistered coupon in.
tcrest: bearing bonds to an amount not
exceeding five million dollars.
Said bonds. to an extent not exceed.
inG ; two ,',I mIiiiSn I, doii.rs. shall be dated
ana said bonds shall be I psyabis ls'' a. isI ;Ss
option OF tho state OF Colorado at any
tine InS,,sa sstGr S,,t ten Year. frem their re-
each Or any multip!e thereof. Tic % IN.
,sst ,Ss s!s;s !s Pss a the office q
III. principal OF said Bonds . shall i ASe Be
payable at tho office OF the state
No such bond, s-all be issued e1cep,
from The sales Of said bonds shall be
the state according to the mileage Of
state Is ESuse, so.,, and state hishways with
s per ssnsm o. .eS sSe tns .s%ain,ns rims
the sale OF said bonds shall be used by
The state Highway Commission only to
u the state y i Colersdo c'I by eTaLdsS uniisS
States Congressional Icts.
es Anee PssseyasS sse 5nrsss q d:b b.h in adj
Incurred ea above. tho State may com
tEact debt BY loan for the purpose OF
dfeating fund to bo expended a. pro-
ylded by law: by tho State Highway
bepartm, At. fer the consl and
Improvement Of public hlghwayy in the
State Of Colorado: said debt to be evil
pfnced By Registered. COUPON. interest
hearing bonds 10 an amount not cx-
reeding ak million dollars.
Said bonds to an extent not exceed.
ing Ono Milliop Five Hundred Thou
sand Dollars. shall be dated juno first.
1898; not exceeding One Million Five
Hundred Thousand Dollars shall be
dated June first. 1924; not exceeding
Ono Million Five HUNDRED Thousand
Dollars shall be dated June fIrst 1926
not exceeding Ono Million Five Hum
drcd Thousand Dollars shall be dated
Juno first 1895; said bonds shall b.
issued payable scrislly. The last ma
turing series OF cnch issue ahnII be
absolutcly due and payable not exceed.
inS twsnty t.o) ye1rs from and after
the dato thereof. and shall be OF thc
denomination Of Ono Hundred Dollars
The Interest on said bonds shall be be
office Of tho State Treasurer. or nj
some place IN the City of Now York
y. 9. A.. and the principal Of said bonds
shall be payable at the office Of the
State Treasurer.
No such bopds shall be Iss,,ed or