Bedford inquirer and chronicle. [volume] (Bedford, Pa.) 1854-1857, 1856-10-10
fInsT AMENDMENT.
AnrgeaE u.
oF rnRLIC nERrs.

VT Ohl4IL lf448s
SEcrIoN /. The state may contract debts to
| supply casual deficits or failures in revenues.
or to meet expenses not otherwise provided
for; hut the aggregate amount of such debts
direct and contingent, whether contracted BY
virtue of one or more acts Of the general as
scmbly, or at different periods of time. shall
never exceed seven hundred and fifty Thousand
dollars and the money arising from the creation
Of such debts, shall I've applied to the purpose
for which it w.ls obtained, or to repay the debts
so contracted, and to no other purpose what
ever.
SECTION ,. In addition to the above limited
power the state may contract debts to repel iii-
yasiGn, suppress insurreetion defend the state
in war, or to redeem the present outstanding
indebtedness of the state; but the money aris.
ing from the contracting Of such debts, shall
be applied to the purpose for which it was
raised, or to repay such debts, and 70 no other
purpose whatever.
Section 3. Except the debts above specified,
in sections one and two Of this article, no debt
whatever shall be created by, or on behalf Of
the state
SEeTlGN A. To provide for the payment Of
the present debt, and ang additional debt con
tracted as aforesaid, the legislature SHALL at its
first session. after the adoption Of this amend
nlent, create sinking fund, which shall be
sufficient TO pay the aecruing interest on such
debt, and annually to reduce the principal there
of by sum not less than two hundred and fifty
thousand dollars; which sinking fund shall coll
sist OF the net annual income Of the public
works, from time TO time owned by tha state.
or the proceeds Of the sale OF the same, any
part thereof, and of the income or proceeds Of
sale of stocks owned by the state together with
other funds, or resources, that may be designa-
ted by law. The said sinking fund may he in
creased, from time 10 time, by assigning 10 it
any part Of the taxes or other revenues Of the
state, not required for the ordinary aud curreht
expenses Of government, and unless in case Of
war, invasion or iusnrrection, no part of the
said sinking fund shall be used or applied 9TH
erwisc than in cxtinguishment of the public
debt, until the amount Of such debt is reduced
below the sum of five millions of dollars.
SECTION s. The credit Of the commonwealth
shall not IN any manner, or event, be piefg
ed, or loaned to, any individual, comna-
ny, corporation, or association; nor shall the
commonwealth hereafter become joint owner.
or stockhoider, in any company, association, Of
corporation.
SECTION S. The commonwealth shall not as
sumo the debt, or any part thereof, Of any
county, city, borough, or township; or Of any
corporation, or association: uilleas such debt
shall have been contracted to enable the state
to repel invasion, suppress domestic insurrec-
tion, defend itself In time of war, or to assist
the state in the discharge Of any portion OF its
| present indebtedness.
SEcFIoN r. The Legislature shall not authorize
any county, city, borough, township, or in.or-
poratesl district, by yirtee OF vote OF its citi
zens, or otherwise, to become a stock4older ii
any company, association, or corporation; o.
TO obtain money for, or loan its credit to. any
corporation, association institution or party
SECOND AssspaENr.
There siall b. an additional article fo sais
constitution to br tfcairnated as article KIT a
! follow: