New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1846-10-12
ART, VII Finunce.

tha- MAJ be organized under It's Constitution
ART. VII 80. Finance.
SECTION / After paying tie expenses of collection si-
p.rneocscce and Ordinary repairs e:e shall be apprc-
pra.sd s1d spar. earn fiscal ysaf, Ont o. lie
OF The State canals. commencing on The rs day
June. 1915 he OF million sad aree hundred hoG-
sand dollars gn ne t=t dsy OF me 1850 from ihai
time the sum OF ore rsi!ioa and seven hundred housand
dollars each ase= rear, sinking fund 20 pay the
and redeem the principal OF thai Psr nj The Safe
debt called the canal debt j; existed al the frsi
aforesaid ard !aclri three hundred thousand dollars
then 10 be borrowed urii lie shall be wholly paid
and The principal and income Of tbs sad sAg fund snail
b. -scredly applied 70 hsr purpose
After complying with Ire provisions u the INST
ton o. t.s article there -Aa- b. appropriated and set
apart OF the surplus Of he state canals n
each fiscal year, commanding The aTst lay OF June
1916 The OF ree hundred and lily thousand dollars
until the Lite when sufficient sum si-ii have been 1p
PfopTia!eG and sci apart alueF me st1 al-. sec.o 70
pay The interest and NusCsA The tILre principal Of the
canal debt; and alter thai period laen The -ain Of nil
ho1 and i've hundred thousand dol- ~ ee ise3 year,
sinking fund "a pav the interest and redeem The pl-
cP2 OF That part Of STATE deb called ihe General Fund
debt including The dsbt ioT pas o; ue Sais ere'!t 10 raul
road companies which have failed 10 psy ne interest There
and Ire contingent debt o. STATE stocks oanec
incorporated companies winch nave naee pa!a ne m
t=res thereon whenever d sT as any part thereof may
become charge The Treasury or General Fund, Until
the same shui Ne wholly paid and me principal srd IN
come ofthe said mentioned =inhing fund shall be
credly applied 10 the purpose aforesaid and L The
payment any part M -sid moneys 70 The aid sinking
fund shall any deferred by reason o. the priority
recognized r-t section OF this article, the de-
ierrcd with quarterly interest thereon a. The then
rate shall be paid 20 the mentioned sinking fund,
soJr o. II can he done -orsisnfv with the ICs rights of
the creditors holding sad caasi DEBT
) After paying The said expenses OF superintendent
and OF the canals anahe appropriated by The
frs and second section. Of hs article shall De paid
the surplus the canals To The Treasury
the STATE before the tirIeih Day OF September
In each ys for tho se and benefit of The General FuuG
such sum not exceeding Ss0oo-, may be required
deray the necessary expenses OF the State and The
fiscal wear be applied in such manner the Legislature
shall direct To- Tue com pleon OF the Erie Canal enlarge
meni and the enesee alcy ana G!acA River cansls ~
liza, anv time a,r the period ct eight year. from the
sLor ~ az . i,g no, lee ci.n, TO fray
TIC necessary ypens.. OF the Government without con
,inung or ayiug direct lax ie Legislature may al IT'S
discretion s,r1 ib, deficiency in whole or in na- from
the ,irn,s r,y,c OF the canals after complyinC with
Tue provisions ofhc rt tvo sections this article for
n.vinr thc and yliisiiny the principal of Tho
canal and General Fund debt but The sum thus appro
priard from lhc surplus revenues of The canal hall not
1royied for ~ his se,ton FOR the EXPENSES of IN. Gov
trpnent u1, he Genera Fund debt shall he exling1shed
or until The Ere Canal enlargement and Genesee Valley
and Blsck River canals shall be completed and sf:cr shat
debt shall b. p,id or The said canals shall be
hes ;h sur, of a 500 or so much itereofas s.li % ne
css,r ma, H. a,rr.ii, spnronri aicd In dsfrav tho ex
,,S. 81 ~ 10 C;,r.r,,r,ss,, 'Ff so
l. me Claims OF NE eiate asdLs any com
& ~ tts S ST. $500 Az dvanccd n sncb romnsnv
.T, ~ frI, rn,rc.d suj NOT released or corunror,rd
and u 1 rom l1 such claim shall be- 80: apsr;
and APPLIED s psr ofhe sinh fund provided in the sec
ond section Of this article But the lime limited for the f
nmeut of any condition Of any release compromise
heretofore mad or rruvided for NAV be extended bv law
; ii the sinking funds. either OF them provided
This article shall prove insutc ent 10 enable the Stale on the
credit Of such fund 10 procure the means to satisfy the
,,,r fs'a',,r h., ..o,,si. me- - mems. The
tno L "a. ~ sia ~ -, ,Fa, -,
,,,, ~ .c .T ,r.,y. ,5, rubj,l AM F,e-1
49, - ~, 49,, -,,sI- ~ - d.,t -,
@ 49, a. ~ ,te;- irart ,evrn1r. ,hsI Win
Sr,rIy ,ert NJ he rate. b.n current, be- repaid mo
IN. Tssr "a, ill.,, no al tho STATE Gt o the canal re-.
crpes ~ snSr as can b. done Consistently with Inc Is
r;,b1s -, ,le cra5,oys bnIiirp f,. s,id ANA, dent
Is The a-issture Shall not SELL lease, or Otherwise
DISPOSE of any ~ lie canals OF the state hut they shall
main the property of ,h, STATE and under rs management
forever
The cr,sature shall never sell or dispose of the
,brei and y;i NAV he necessary and convenient Tor the
use ofhe sat springs may sold by authority Of law aud
under the direction of the commissioners OF the land office
in other lans alike convenient but by such and pur
chase the aggregate quantity u these lands shall not be d
mnished.
30. No moneys shall ever be PAID on 0i me treasury OF
80 a,en, eIcen in pursuance OF an appropriation by
law nor unless .,ch payment made within years
next aler the passage such appropriation acl and every
such law making Ee" appropriation, or continuing or
rcyying appropriation, shall distinctly specify the sum
appropriated and The object 20 which Is 10 be applied
and II -hail not be safcent iof sue ia" 10 REFER ~ any
other law TO ny such sum - >,
= Inc efedit OF the SIae .ia-. uO.i I ai t,
given OF loaned to- or 10 81" OF any na'1ua'
or corporation. . =. 49,, =
H. The State may TO meet casua cenciis or iaies N
revenues expenses not provided O contract ueots
grecaie shall any lime exceed one milton oil no
laT- aud the moneys arising IRON TIE !ohas eieGn. suSH
applied 10 The WINCH l!tJ Nelc
obtaued or 10 repay the debt contracted and 10 no
other purpose whatever.
II. In addition 10 the above h!ed poWeI 20 cohIas'
debts the State may contract debts 10 epei INVASION sup
press Instruction or defend the Sll:e N var y t mo
ney arising tom the contracuhg OF sseA aeos sl1;. eS o.
pHcd 10 ule puf PC-e 'uI " I'm = ~, .,- - " F''
such debts, and TO no osAer pul pvee WlAts'e
y Except the depIs speche " Ae le9In anu ee.
sections Of this article 10 dept shs hereafter re
ed ny behalf Of iAs STATE 4a.es sleh deot she oe
authorized oy law of some ,Le.r wOtA or Vyect, % %
distinctly specified therein and s1ch law shs impose ald
provide Tor The collection OF Greet anna. aA 70 pay
ana SUFFICIENT 10 pay IA interest Vi s'o ~ a. !a.
Gue, sG ao ~ pa? CO. tom M ,n. q; the Sontrscting
Ieu1 " .''''' e'S'i'e' !N''9 '1- ''
No suc law shall take eject until Il shall al general
csive majority OF ali lie votes casi for and against it, at
- 80 - . .'iy 49, - 49,
G ba si c,..,o of such bill in either house OF the
Ieri.sre Inc question shs be aken by ayes and noes to
t-es.se'uI .!s ie -. .ba-.5, and .hs ~ =
Sh. M hi pa.- and ought The sane 10 receive the