Bedford inquirer and chronicle. [volume] (Bedford, Pa.) 1854-1857, 1857-07-31
ARTICLE xI.
OF PUBLIC DEBTS.

SECTIsS /. The State may contract debts, to
\ Fply casual deficits or failures IN revenues, or
meet expenses not otherwise provided for;
II the aggregate amount of such debts direct.
i i contingent, whether cont racted by virtue
one or more acts of the general assembly, or
different periods Of time, shall never exceed
ven hundred aud fifty thousand dollars, and
Il money arising from the creation of such
Bhts, shall be applied to the purpose for which
was obtained, or to repay the debts 80 con
s4cted, and to no other purpose whatever.
SECTION =. lin addition to the above limited
wer, the State may contract debts to repel
rasion, suppress insurreetion, defend the
ate in war, or to redeem the present out
agdiug Indebtedness of the State; but the
lney arising from the contracting of such
Jts shall be applied to the purpose for which
vas raised, or 10 repay such debts, and to no
N ler purpose whatever.
SEcrIoS s. Except the debts above specified
sections one and two of this article, no debt
satever shall be created by, or on behalf of
(. State
SECTION !. To provide for the payment of the
sscnt debt, and any additional debt contracted
Aforesaid, the Legislature shall, at its first
3son, after the adoption of this amendment,
\ 4ate Il sinking flnd, which shall be sufficient
pay the accruing interest on such debt, and
4aually to reduce the principal thereof by
4 n not less than two hundred and fifty thOus-
dollars; which sinking fund shall consist of
net annual income of the public works, from
\ &c t. time owned by the State, or the pro-
! iS of the sale of the same, or any part there
aud of the income or proceeds oil sale of
cks owned by TIE State, together with other
is, or resources, that may be designated by
b.. The said sinking fund may be increased,
d time To time, by assigning it to any part Of
taxes, or other revenues of the State, not
\ f4aiFed for the ordinary and current expenses
&yernment, and unless in case of war, inva-
nor instruction, no part Of the said sinking
4 M shall be used or applied otherwise than in
R,-inguisnment of the public debt, until the
l)unt Of such debt is reduced below the sum
J sye millions OF dollars.
SECTION 5. The credit of the commonwealth
4 Ill not in any manper, or event, he pledged, or
med to, any individual, company, corpora
~ OF association; nor shall the common
aslth hereafter become joint owner, or stock
der, in any company, association or corpora
~.
SEC. 8, The commonwealth shall not assume
! debt, or any part thereof, cf any county,
4 y, borough, or township or of any corporation
association; unless such debt shall have been
a'racted to enable the State to repel invasion,
N appress domestic iaSurrcction, defend itself in
ae Of war, or to assist the State in the dis
A'ge OF any portion of its present indebted
sas.
SIC. 4. The Legislature shall not authorize
county, city, borough, township, or incor-
ats,l district, by virtue Of a vote Of its citi-
4 rs or otherwise, to become stockholder in
company, association or corporation; or to
lsln money for, or loan its credit to, any cor
ration. association, institution or party.
SEeeSD AMENDMENT.
There shall be an additional article to said
'ttGtion, to be designated as article MI, as
pws
ARTICLE XII.
0F NEW COUNTIES,
20 county shall be divided by line cutting
over one-tenth Of It's population, feiiher to
70 d ne" couEty, or otherwise without the
Press assent OF such county, by a vote Of the
'oFs thereof, nor shall any new county be es-
o-saed, containing less than four hundred
aTe miles
THIRD AMENDMENT.