Lewistown gazette. [volume] (Lewistown, Pa.) 1843-1944, 1857-08-27
FIRST AMENDMENT
ARTICLE XI.
OF PUBIC DEBTS.

SECTION |. The state may contract debts. to
supply casual deficits or failures ia revenues
or to meet expenses not otherwise provided for
but the aggregate amount OF such debts direct
and contingent, whether contracted by virtue
of one or more acts Of the general assembly.
or at different periods Of time, shall never ex
ceed seven hundre and fifty thousand dollars.
and The money arising from Inc creation OF such
deots, shall 3e applied to the purpose for which
1t was obtained or % repay the debts so con-
tracted, and 10 no other purpose whatever
SECTION 2 In addition to the above limited
power the state may contract debts to repel in
Taslon, suppress insurrection. defend the state
in war, or to redeem the present outstanding
Indebtedness Of the state; but the money arising
from the contracting Of such debts, shall be
applied to the purpose for which it was raised,
Or to repay such debts and to no other purpose
whatever.
Section g. Except the debts above specified,
in sections one and two OF this article, no debt
whatever shah be created hy, or OH behalf of
the state
SECTION 4 1o provide for the payment Of
the present debt, and any additional debt cor
tracted as aforesaid, the legislature snail at its
frst session, after the adoption Of this amend
meat, create sinking fund, which shall DC suf
hGient TO pay the aecrulng interest on such
debt, and annually 10 reduce the principal
thereof by a SUN 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 time owned by the state,
or the proceeds of the sale Of the sane, or 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 be in
creased, from time to time, by assigning to ii
any part OF the taxes, or other revenues of the
state, not required ior the ordinary and current
expenses OF government, and unless in case of
war, invasion or insUrrection, no part of the
said sinking fund shalt be used or applied other
wise than in extingushment 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 pledged,
or loaned 10, any individual, company, corpora
ton, or association; nor shall the commonwea lth
hereafter become joint owner, or stockhold-
er, in any company, association, or corporation,
SECTION 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 to enable the
state to repel invasion, suppress domestic
nsurrection, defend itself in time Of war, or to
assist the state in the discharge Of any portion
of lis present Indebtedness.
SEcTIoE Z. The legislature shall not autho-
rize any county, city, borough, township, OF in
corporated district, by virtue of vote Of il
citizens, or otherwise, to become stockhoIdel
in any company, association, or corporation, Oh
TO obtain money for, or loan its credit to, my
corporationi association, institution, or party.
SECOND AMENDMENT.
There shall be an additional article to said
constitution, TO be designated as article XII, as
follows