Page:Colorado State Constitution (2020).pdf/94

 levying the tax.

Source: Entire article added, effective August 1, 1876, see L. 1877, p. 58.

Section 11.Maximum rate of taxation. The rate of taxation on property, for state purposes, shall never exceed four mills on each dollar of valuation; provided, however, that in the discretion of the general assembly an additional levy of not to exceed one mill on each dollar of valuation may from time to time be authorized for the erection of additional buildings at, and for the use, benefit, maintenance, and support of the state educational institutions; provided, further, that the rate of taxation on property for all state purposes, including the additional levy herein provided for, shall never exceed five mills on each dollar of valuation, unless otherwise provided in the constitution.

Source: Entire article added, effective August 1, 1876, see L. 1877, p. 59. L. 1891: Entire section amended, p. 90. Initiated 20: Entire section amended, effective December 4, 1920, see L. 21, p. 179.

Cross references: For limitation of county levy, see part 2 of article 25 of title 30.

Section 12.Public funds - report of state treasurer. (1) The general assembly may provide by law for the safekeeping and management of the public funds in the custody of the state treasurer, but, notwithstanding any such provision, the state treasurer and his sureties shall be responsible therefor.

(2) The state treasurer shall keep adequate records of all moneys coming into his custody and shall at the end of each quarter of the fiscal year submit a written report to the governor, signed under oath, showing the condition of the state treasury, the amount of money in the several funds, and where such money is kept or deposited. Swearing falsely to any such report shall be deemed perjury.

(3) The governor shall cause every such quarterly report to be promptly published in at least one newspaper printed at the seat of government, and otherwise as the general assembly may require.

Source: Entire article added, effective August 1, 1876, see L. 1877, p. 59. L. 74: Entire section R&RE, p. 454, effective upon proclamation of the Governor, December 20, 1974.

Section 13.Making profit on public money - felony. The making of profit, directly or indirectly, out of state, county, city, town or school district money, or using the same for any purpose not authorized by law, by any public officer, shall be deemed a felony, and shall be punished as provided by law.

Source: Entire article added, effective August 1, 1876, see L. 1877, p. 59.

Section 14.Private property not taken for public debt. Private property shall not be taken or sold for the payment of the corporate debt of municipal corporations. Colorado Revised Statutes 2020