The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1856-09-17
: - AK IIILE n.
OF PUBLIC DEBTS,

+
= Sec u 1. The state may contract debts, TO
supply casual deficits or failurers in reve.
fiuss, or 10 meet expenses not otherwise pro-
! yided for; but the aggregate amount of such
debts direct and contingent, whether con.
tracted by virtue of one or more acts OF ihe
general assembly, or at dfereht 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 ii was OBJ
tanned, or 10 repay the debts so contracted,
and TO no other purpose whatever.
SEC. 2. In addition to the above limited pow.
er the Stale may contract debts 10 repel in.
vasion, suppress insuHeclion, defend The
state in war, or to redeem the present ont.
standing Indebtedness of the state; but the
money arisng from The contracting OF such
debls, shall be applied 10 The purpose for
which il was raised, or to repay such debts,
and 10 no other purpose whatever
SEC. 8. Except the debts above specified,
in sections one and two of this article no
debt whatever shall be created by, or on be-
half of the stale.
SEC. 4. To provide for The payment oil The
present debt, and any additional debt con-
Hacied as aforesaid, the legislature shall, at
it's first session, after the adoption OF this
amendment, create sinking fund, which
shall be sufficient 10 ray the accruing in
terest on such debt, and annually 10 reduce
the principal thereof by a sum moi less Than
two hundred and fifty thousand dollars;
which sinking fund shall consist of the net
annual income of the public works, from
time 10 lime owned By the state, or the pro-
ceeds of the sale of the same, or any part
thereof, and of the income or proceeds of
sale of stocks owned by the stale, together
iii hat ha
designsled by law. The said sinking fund
may be increased, from time 10 time, by as
signing 10 il any part Of the taxes, or other
revenues Of the state, not required for the
ordinary and current expenses of Govern
meni, and unless in case Of war, invasion
or insunection, no part of The said sinking
fund shall be used or applied otherwise Than
in exlnguishment of The public debl, until
the amount OF such debt is reduced below
the sum of five millions of dollars.
SEC. 8. The credit Of the commonwealth
shall not in any manner, or event, be pledg
ed, or loaned to, any individual, company,
corporation, or association; nor shall The
com monwcal,h hereafter become a joint
owner, or stockholder, in any company, as
eocialion, or corporation.
Sec 6. 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 unless such
debt shall have been contracted 10 enable
the stale 10 repel invasion, suppress domes-
tic insurreclion, defend itself in time of war,
or 10 assist the state in the discharge of any
portion of its present Indebtedness.
Sec. a. The legislature shall not authorize
any county, city, borough, township, or in.
corporated district, by vinue of a vote of lis
citizens, or olherwIse, 10 become stock
holder in any company, association, or cor
pora,ion; or TO obtain money for, or loan its
credit 10 any corporation, association, insti-
sutton, or parry.
SECOND AMENDMENT.
There shall be an additional article 10 said
constilption 10 be designated as article XII,
as follows: