The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1856-07-23
OF PUBLIC DEBTS.

i
Sec. I. The slate may contract debts, 10
supply casual deficits or failurers in teve-
nuss, or 10 n.eel EXPENSES not Otherwise pro-
vded for but the aggregate amount Of such
debls direct aud contingent, whether con-
tracled by virtue of one or more acls Of The
general assembly, or at different periods of
time, shall never exceed seven hundred and
fifty thousand dollars, and the money aris-
ing from the creation of such debts, shall be
applied 10 the purpose for which il was OBJ
tanned, or TO repay the debts so contracted,
and TO no olher purpose whatever.
Sec. 2. In addition to The above limited pow.
er the Stale may contract debts 10 repel in.
vasion, suppress insurection, defend the
state in war, or to redeem the present ont.
standing Indebtedness OF the state; but the
money arising from The contracting of such
debts, shall be applied 10 the purpose for
which it was raised, or TO repay such debts,
and 10 no other purpose whatever.
Sec. 8. Except the debts above specified,
in sections one aud two OF teis article, no
debt whatever shall bs created by, or on be-
half of The state.
SEC 4. To provide for The payment Of the
present debt, and any additional debt con.
lrac,ed as aforesaid, the legislature shall, at
its first session, ailer The adoption OF this
amendment, create a sinking fund.- which
shall be sufficient 10 ray the accrning in
terest Oh such debi, and annually to reduce
the principal thereof by a sum not less than
two hundred and fifty thousand dollars;
which sinking fund shall consist of the net
annual income OF The public works, from
time to lime owned BY The state, or the pro-
ceeds of the sale of the same, or any pan
thereof, and of the income or proceeds of
sale of stocks owned by The state, together
with other funds, or resources, that may be
designated by law. The said sinking fund
may be increased, from time TO time, by as
signing to it any part Of the taxes, or other
revenues of the stale, not required for The
ordinary and current expenses OF Govern
ment, and unless in case of war, invasion
or insunection, no part sfshe said sinking
fund shall be used or applied otherwise than
ia extnguishmenl Of the public debt, until
the amount of such debt is reduced below
The sum of five millions of dollars.
SEC. 5. The credit OF the commonwealth
shall not in any manner, or event, be pledg
ed, or loaned 10, any individual, company,
corporation, or association; nor shall the
com monweallh hereafter become joint
owner, or stockholder, in any company, as.
sociation, or corporation.
Sec 6. The commonwealth shall moi as
sumo the debt, or any part thereof, Of any
county, city, borough, or township; or of
any corporation, or association unless such
debt shall have been contracted 10 enable
the stale 10 repel invasion, suppress domes-
tic insuueclion, defend itself in time Of war,
or to assist The Stale ia the discharge of any
portion Of lis present Indebtedness.
Sec. 7. The Legislature shall not authorize
any county, city, borough, township, or in
corpuTated disulcr, ty vsrue ufa vute Of lis
citizens, or otherwise, 10 become a stock
holder in any company, association, or cor
poralion; or 10 obtain money for, or loan its
credit 10 any corporation, association, insli-
tuition, or party.
SECOND AMENDMENT.
There shall be an additional article 10 said
constitution, TO be designated as article XII,
as follows: