Democrat and sentinel. [volume] (Ebensburg, Pa.) 1853-1866, 1857-10-14

the aggregate amount of such debts direct and
contingent, whether contracted by virtue of one
or more acts of the General Assembly. or at diff
erent periods of time, shall never exceed seven
hundred and fifty thousand dollars, and the mon
ey arising from the creation of such debts, shall
be applied to the purpose for which it Tas OBJ
taincd or to repay the debt so contracted, and 60
no other purpose whatever.
SECTION 2. In addition to the above limited
power the State may contract debts to repel inva-
sion, suppress insurrection, defend the State in
war, or to redeem the present outstanding indebt-
et!ness of the State but the moneys arising from
the contracting ofsucll debts shall DO applied to
purpose for. which in raised, or to repay such
sdcits and to 10 other purpose whatever
SECTION 3. Except the debts above specified,
in sections and two of this article debt
whatever shall be created by or on behalf of the
State.
SECTION a. To provide for the payment of the
present debt, and any debt contracted as foresail
the Legislature SHALL at its first session, after the
adoption of this amen lment, create sinking fund
which shall besufficent to pay the ACQUIRING in
tcrcst on such debt land annually to reduce TIE
principal thereof by sum not less than two
hundred and fifty thousand dollars; which sink
ng fund shall consist of the net annual income OF
the pul lie works from time to time Owned by the
STATE, or the proceeds of the sale of the same. or
any part thereof, andof the income proceeds of
sale of stocks owIel by the State toeegher with
other funds or resources, that may be degnated
by law. The said sinking fund may beincreased.
from time TO time, by as>igning to i. any part OF
the taxes. any other rcvenucs Of the State, not
required for the ordinary and current expense.sof
government, and unless in case of invasion Or m
instruction, no Part Of the said sinking fund
shall be used or applied otherwise than in cxtin-
guishment of the public debt, until the amount
Of such debt is reduced below the Of five mil
lion on dollars.
Section 5. The credit of the Common wealth
shall not, in any manner or event, be pledged or
loaned to any individual, company. corporation
or association nor shall the Commonwealth
hereafter become joint owner; stakeholder, in
any company. association or corporation.
Section g. The Common wealth shall not as
sumo the debt. any part thereof. of any coun-
ty. city. borough. OF township or if any corpo-
ration, or association unless such debt shall have
been contracted to enable the State to repel iuva-
sion. suppress domestic insurrection. defend it
self in time of war, or to assist the State in the
discharge Of any portion of It's present indebted
ness.
Section T. The Legislature shall not authorize
any county, city, borough. township. or incorpo-
rated district. by virtue of vote of its citizens
or otherwise. to become stockholder in any COM
pany, association corporations or to obtain
money for. or loan its credit TO any corporation
association, institution or party.
SECOND AMENDMENT.
There shall bc in additional article to said con-
stituton, 10 be Designated as article NIL as fol
lows