Sunbury American. [volume] (Sunbury, Pa.) 1848-1879, 1857-09-05
OF PUBLIC ID Il B Il 3

Section l. The state may contract debts, to supply
casual deficits failures ID revenues OF to meet expenses
otherwise provided for but the aggregate oount oi
such debts direct and contingent, whether contracted ny
virtue of one acts OF the general asseUply or a
different periods time, shall exceed seven hundred
and ATTY thousand dollars aud the money arising from the
creation of such debts shall be applied to the purpose for
which obained or to repay the debts 30 contaced
and to no other purpose whatever.
Section Q In addition to the above limited power the
state may contract debts to repel nvaso suppress hsur
rection defend the state in war, or to redee the present
outstanding Indebtedness of the sute but the money ars
ing the contracting of such debts shall be applied to
no other purpose whatever.
Sections Except the debts above specified, in sections
and two Of this article, no debt whatever Shall be
created by, on behalf of the state
Section L. Ts provide for the payment OF the present
debt and am additional debt contracted aforesaid, the
legislature shall mt its first session, after the adoption Of
this amendment, create sinking fund, which shall he
sufficient to pay the accIueng interest on such debt anu
Annually reduce the principal thereof by sum not les
than two hundred and fifty thousand dOasi which SINKS
ing fund shall consist OF the net annual income OF the
public works. from time to time owned by the state, or
the proceeds of the sale of the same, or any part thereof
and of the income proceeds of sale of stocks owned by
the state, together with other funds or resources, mat
may be designated by law. The siid sinking fund may
be increased, from time to time by assigning to 1t any
part of the taxes other revenues of the snte not re-
qured for the ordinary and current expenses OF govern
ent and unless in of invasion insurrection,
pat of the snd sinking fund shall be used or npped
otherwise than in extiuguisent of the pubic debt, ul
til the amount of such debt is reduced below tho sum oil
five millions of dollars.
Section s. The credit of the commonwealth shall not
in any manner or event be pledged loaned TO, any in
dlviua company, corporation, or associunr nor shall
the commonwealth hereaftee become Joint owner or
stockhulder in any company, associations or corporation
Section @. The commonwealth shall not assume the
debt, any part thereof of any county, CITY, borough or
township of any corporation, or association unless
such debt shall have been contracted to enable the state ia
repc lnvason suppress domestic surre!tinh dee,W IL
self in time of war, assist the state in the discharge
| of any portion Of its present Indebtedness.
Section 7. The Legislature shall not authorize any coun
ty ciIy borough, township, or incorporated district, by
virtue Of Of its citizens, otherwise, to become
stockholder in any company, association, or corporation
to obtain money for, loan its credit To, any corpora
| ton, association institution, or party.
| SECOND AMENDMENT.
There shall be an'addona article to said constitution
| to bs designated article MI, as follows: