Colorado title board approves proposed publicly owned state bank amendment

[We are pleased to announce that our book, 7 Steps to Global Economic and Spiritual Transformation, is now available online at Amazon and at Barnes and Noble.]

Friends,

This morning, Thursday, April 17th, the title board approved our proposed amendment as a single subject and set title (see below).

Opponents have until next Thursday (4/24) to ask for a rehearing, which would take place on 4/25 or 4/28.

After that, if their appeal is unsuccessful, opponents would have the option of taking whatever issue they conjure to the state supreme court.

We will begin to organize our signature campaign.

Onward and upward!

Ballot Title Setting Board

Proposed Initiative 2013-2014 #104 [1]

The title as designated and fixed by the Board is as follows:

An amendment to the Colorado constitution concerning the establishment of a publicly owned state bank, and, in connection therewith, authorizing the bank to lend money for public purposes; directing that all assets of the state held by other financial institutions be transferred to the state bank; backing the bank’s debts and obligations with the full faith and credit of the state and exempting the bank from membership in the federal deposit insurance corporation; specifying that the amendment supersedes conflicting constitutional, state, and local law; creating a five member elected board of directors, representing five districts of the state drawn by the general assembly, to manage the bank; creating a nine member advisory board, appointed by the governor; requiring independent annual audits of the bank’s finances; and allowing the state bank to issue bonds to capitalize the bank.

The ballot title and submission clause as designated and fixed by the Board is as follows:

Shall there be an amendment to the Colorado constitution concerning the establishment of a publicly owned state bank, and, in connection therewith, authorizing the bank to lend money for public purposes; directing that all assets of the state held by other financial institutions be transferred to the state bank; backing the bank’s debts and obligations with the full faith and credit of the state and exempting the bank from membership in the federal deposit insurance corporation; specifying that the amendment supersedes conflicting constitutional, state, and local law; creating a five member elected board of directors, representing five districts of the state drawn by the general assembly, to manage the bank; creating a nine member advisory board, appointed by the governor; requiring independent annual audits of the bank’s finances; and allowing the state bank to issue bonds to capitalize the bank?

Hearing April 17, 2014:

Single subject approved; staff draft amended; titles set.

Hearing adjourned 10:45 a.m.

[1] Unofficially captioned "Establishment of a State-Owned Bank" by legislative staff for tracking purposes. This caption is not part of the titles set by the Board.

[We are pleased to announce that our book, 7 Steps to Global Economic and Spiritual Transformation, is now available online at Amazon and at Barnes and Noble.]