The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1857-07-04

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laws Of the United States, or Of this State
aud shall be armed, equipped; and trained
as the General Assembly may provide by
law.
Sec. 2. No person or persons consei-
entiously serupulons Of bearing arms shall
Be compelled to do militia duty in time
Vt peace: Provided, That such person or
persons shall pay an equivalent for such
exemption in the same manner ns other
2 citisena. 80 ..a
Sec. 3. Al commissioned officers of
the militia, (staif excepted), shall be cleo
ted by the persons liable to perform mil
itary duty, End shall b. commissioned by
the Governor. No..
ARTICLE S.--STArk DRBrs.
Section l. The credit of the State
shail not, in any manner, be given or
loaned to, or in aid Of any individual, as
soelation or corporation, unless incurred
In time Of war for the benefit Of the state.
Sec. Z. The state may contract debts
to supply casual deficits or failures in rev.
esues, or TO meet expenses not otherwise
provided for; but the aggregate amount
Vt such debts, direct and contingent,
whether contracted by virtue Of one or
more acte Of the General Assembly, or at
different periods Of time, shall never ex-
oecd the sum Of two hundred and fifty
thousand dollars; aud the money arising
from the creation of su,h debts, shall be
applied to the purpose for which it was
obtained, OF to repay the debts 50 con-
tracted, aud to no other purpose whatever.
SEQ. 3. All losses to the permanent
School or University fund of this state,
which shall have been occasioned by the
dofslcation, Encouragement or fraud of
the agents or officers controlling and man.
ss'ng the same; shall b. audited by the
proper authorities of the state. The
amount SO audited shall be permanent
funded debt against the State, in respect
i've fund sustaining the loss, upon which
not less than six pr cent. annual interest
shall Be paid. The amount of liability SO
created shall not be counted as a part Of
thsindebtedness authorized by the second
section Of this article.
See. 4. In addition t. the above limit
ed power to contract debts, the state may
contract debts to repel invasion, suppress
insurrection, or defend the state in war;
but the money arising from the debts so
contracted shall be applied to the purpose
for which it was raised, or to repay such
debts and to no other purpose whatever
SEQ. 5. Except the debts hereinbefore
specified in this article, no debt shall here
after b. contracted by, or on behalf of
this State, unless such debt shall be au-
thorised by some law for some single work
or object, to be distinctly specified there
inf and such law shall impose and provide
for the collection of direct annual tax,
sufficient to pay the interest on such debt,
~ it falls due, and also to pay and dis
charge the principal of such debt, within
W years from the time efthe contracting
thereof; but no such law shall take effect
until 1t general election it shall have
been submitted to the people, and have
received q majority of all the votes cast
fvr and against it at such election; and all
money raised by authority Of such law,
shall be applied only to the specific ob;ec,
therein stated, or the payment of the debt
created thereby; and such laws shall Be
pub!lshed in at least one newspaper in
each county, il one is Published therein,
throughout the state, for three months
preceding the election at which it is sub
nitted to the people
Sec. 6. The Legislature may, at any
time after thu approval of such law by
the people, il no debt shall have been
contracted IN pursuance thereof, repel
the same; and may, at any time, forbid
the contracting Of any further debt, or
liability under such law but the tax im-
posed BY such law, in proportion to the
debt or liability BY such law, in proper
ton to the debt or liability, which may
have been contracted in pursuance there
81, shall remain in force and be irrepeal-
able, aud be annually collected, until the
principal and interest are fully paid
Sec /. Every law which imposes,
continues, or revives tax. shall distinct
ly state the tax, and the object to WHICH
i, is TO be applied; and it shall not be
iuticient to refer to any other law to fix
such tax or object.
ARTICLE S.-CoRpoRArIoSs.
Section |. No corporation shall be
created b, special laws; but the General
Assembly shall provide, by general laws,
for the organization Of all corporations
hereafter to be created, except as hereaf-
ter provided.
See. 2. The property of all corpora
tons for pecunlary profit, shall be subject
TO taxation, the same as tina. of iudiyidu-
ala
Sec. 3. The State shall not become a
stockholder in any corporation, nor shall
II assume or pay the debt or liability, of
any corporation, unlsss incurred in time
Of war for the benefit of the State.
Sec. 1. No political or municipal cor
poration shall become stakeholder in anv
Lankingcorporaton, directly or indirectly.
Sec. 5. No act of the General Assem-
bly,, authorizing or creating corporations
or associations with banking powers, nor
amendments thereto shall take effect. nor
10 any manner be in force, until the same
shall have been submitted separately, to
the people, at a general or special election,
AZ provided by law, to be held not less
than three months after the passage of
The act, and shall have been approved BY
majority Of all the electors voting for
Or against il at such election.
Nee. S Subject to the provisions Of the
frcgoing section, the General Assembly
ilsy also provide for the establishment Of
State Bank with branches.
Sec I. IF State Bank be established