The Potter journal. [volume] (Coudersport, Pa.) 1857-1872, 1857-08-20
ARTICLE Y.
OF PUBLIC DEBTS

SEcTIQN /. Ihe state MY ean.rIct d>hts 10
supply casual deficits or ia lures ~ reTeAucS.
or ~ nret expenses npL lthcrYlSe proYIded
for; but lhe aggregate amount Qi SuEh debta
direct and Contingent, whether contracted 10y
virtue u oae or 444re ACTS CT the general as
Semb!r qg ~ dttiertp; PERIODS a tst&se shall
never exceed scFen hundred and htty thousand
dollars, ami las iAoney arising from the crea-
tiou oil such debts shall be applied 10 the
purpose for which il WAS obtained, or 10 repay
the debts 50 CONTRACTED, aud 10 40 Qtscr pur-
pose whatever.
s;scTIQS >. Ia addition % tbs aloIe limited
lower the slate may CONTRACT deo,s To Iepcl
invasion, suppress lnsurrectoli, defend the
state in war or tG redeem the Pre-ent ont-
standing iHilettcdness ot ths state bat the
money arising trem the contracting oi such
debts shall - -pplcd to the EGFpose for which
it was raised. o,r Ia repay such i, hts, and to
no other purpose whatever.
SEcllu, ;. Except the debts above specified
IN sections S.ne and tW4,at this article, 40 dcbt
whatever shall ae created by, Qr on heInlt of
the state.
SEcripl 4. 70 provide fac Inc payment ul
the prcscF,t dci4t, aud auy additional debt con
trartld a. aforesaid, the legislature shall. nj
its first SpssaG. atler tia aanptipn Of this
amemdment, create II sinking fund, which shall
lie sufficient to pay the nccruing int1re,t on
such debt, 4nd annNaly t. gcdHce the princi-
pal thereof by sun not Lcss than tw4 h4n-
dgr9 nEA tittY thoHsal-d dollars which SINK
ing flnd shah ,>,A...s Qt the net a4tnaal in
come OF tho pubhc works, frum tilAc IA time
owned b. the state, or the proceeds OF the sale
Of the same, any part thereof, and Of the
income or proceeds cf sale Of stocks owned bS
the state, toy .thrr with other funds, rcaour
ces that may he dus.gGatrl Is Law. The said
sinking fund may be increased, from tmQ to
time, by assigning To it any part of the taxes
or other cnuca OF the state, not required for
! the ordinary and current expenses Of govern
mcnt. and unless in ease of ~sr, invasion Qr
: iinsurrcctiQn, 10 part Of the said sinking fund
/ shall be used or applied otherwise than IL cx-
tnguishmcnt Of the public debt, antiI the
amount of such debt is reduced below the
sum Of five millions of doilars.
! SECTION ). The crc,;it vt the commonwealth
/ shall not in any manner, or event, be pledged.
/ or lna4ed To- any individual. company, corpo-
rattan, 81 asSacintion nor shal, the common
wealth hereafter become n IuiAt owner, OF
St0Ckholdcr, III any company, association, or
corporation
! SEcyIoS t, The cQmmoNWcalth shall not as
sume the 1.at. ~ any part thereof. II any
/ county, city, borough, or township; or of any
corporation, or association; unless such dchi
shall have been contracted tQ cnablc the state
10 rcrei invasion, suppress domestic iR.Nrrpc-
ton defend itself in time OF war, or TO assist
the state in the discharge Of any portion OF
its IEesGnt Indebtedness.
SgCroS :. The lcgi,latags sAall not author
izc any county, city, borough, township, or
Incorporated district, by virtue of vote OF it,
citizens, Or otherwise, To become Il stockhold-
Of iu any Company, assoSi"!ian. or corpora
stinn or to ohtAin money for, or loan its credit
To, any corporation, nssotiatluu instisa'iop, OF
party.