Anti-slavery bugle. [volume] (New-Lisbon, Ohio) 1845-1861, 1851-04-26
1913
constitution OF the state OF Ohio.
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aid Of any Individual association or corpora
lion whatever; nor shall the State ever here
after become joint owner, or stockholder
in any company or association, in this State
or elsewhere, formed for any purpose what.
ever.
Sec. 5. The State shall never assume the
debts of any county, city, town, or township,
or of any corporation whatever, unless such
debt shall have been created TO repel inva-
sion. suppress nsurrection, or defend the
State in war.
Sec. @. The General Assembly shall never
authorize any county, city, town, or town
ship by vote of its citizens, or otherwise, to
become a stockholder in any joint stock
company, corporation, or association what
ever or TO raise money for, or loan its cred
tito, or in aid of any such company, corpor-
alton, or association.
Sec. z. The fdith Of the State being pledg-
ed for the payment of its public debt, in or
der to provide therefor, there shall he created
a sinking fund, which shall be sufficient to
pay the accruing interest on such debt, and
annually, TO reduce the principal thereof, by
sum not less than one hundred thousand
dollars, increased yearly, and each and every
year, by compoundiug, at the rate of six per
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shall consist, of the net annual income of the
public works and stocks owned by the State,
of any other funds or resources that are or
may be, provided by law, and of such further
sum, TO be raised by taxation, as may be re-
quirod for the purposes aforesaid.
Sec. 3. The Auditor of State, Secretary
of State, and Attorney General, are hereby
created board of commissioners, to be styl-
ed, "The Commissioners of the Sinking
Fund"
Sec. o. The commissioners of the sinking
fund shall, Immediately preceding each reg
ular session OF the General Assembly, make
an estimate of the probable amount of the
fund, provided for in the seventh section of
this article, from all sources except from
taxation, and report the same, together with
nll their proceedings relative TO said fund and
the public debt, to the Governor, who shall
transmit the same with his regular message,
TO the General Assembly and the Gener-
al Assembly shall make all necessary pro-
vision for raising and disbursing said sink
ing fund, in pursuance of the provisions of
this article.
Sec. 10. II shall be the duty of the said
Commissioners faithfully TO apply said fund,
together with all moneys that may be, by
the General Assembly, appropriated 10 that
becomes due, and the redemption OF the
principal of the public debt of the State,
excepting only, the school and trust funds
held by the State.
Sec. III. The said Commissioners shall, |
scmi-annually, make full and detailed re-
port of their proceedings to the Governor,
who shall, Immediately, cause the same to be |
published, and shall also communicate the |
same to the Genera Assembly, forthwith, if
it be in session, and if not, then at its first |
session after such report shall be made.
Sec. IL. So long as this State shall have
public works which require srperintendence,
there shall be Board of Public Works, to
consist of three members, who shall be elect
cd by the people, at the first general election
ntter the adoption of this Constitution, one
for the term of one year, one for the term of
Two years, and one for the term of three !
years; and one member of said Board shall
bo elected annually thereafter, who shall
hold his Office for three years.
Sec. 10. The powers and duties of said
Board of Public Works, and its several
members, and their compensation, shall be
such as now are, or mny be prescribed by
law.