Bedford inquirer and chronicle. [volume] (Bedford, Pa.) 1854-1857, 1857-09-25
ARTlC..E XI.
OF PUBLIC DEBTS.

SEcrIoN l. The State may contract debts, stu
supult casual deficits GilnreS Ia revenues, Or
f,rti4.cr expenses not otherwise provided for;
iiut :as aggregate amount of such debts direct
sad contingent, whether cont rlcted by virtue
of one q. more acts OF the genrrat assembly, or
y, .r;Gerent periods of time, shall never exceed
seven hundred and fifts Thousand dollars, aud
IN. money arising treni the creation of such
4ests, shall he applied to the puEpose for which
i vas ohtained, ORTIZ repay the debts so CON
.!actsd. and so no other purpose whatever.
Srrflss = In addition to the above limited
power the State may contract debts 10 relIei
INVASION, suppress insurrection, defend tie
State in war hr 10 re,leeni the present out
sf,,diug Indebtedness of the State; bat the
,,,,n,.s 5risin, from the contracting OF such
! hts shall be applied to the PurTosefor which
IL W. raised. or TO repay such debts, and TO no
other purpose whatever
Spr-ms q Except the debts above specified
in ,.tio!,s one and TWO of this article, no debt
Sh,teyer shalt be created by, or on behalf of
;lh State.
SECr1oS 4. To provide for the payment off
present deb,, and any additional debt contracted
,,tor..y:,id, tic Legislature shall, at it's first
s.s,iaa. An.r the adoption ef this amendment,
cree ,:ukinz i;lni. which shall be sufficient
10 nav TIE accrling interest on -euch debt, aud
snne ,,v 10 reduce the principal thereof by
<ilri. not less than two hnndred aud fly thouS
s!a & liars; which sinking fund shall consist Of
tie let a.aliit income of the public works from
time I. time o"1icd hy the State, or the pro-
eeeds Of the sale of the sae, or any part there
o. and OF the income ar procesis OF sale of
stoci.s owned by the State, together with other
f.a4s or resources, that may be- designated by
~. The said siAkng fund may be increased.
from tiIae time, ny asSiSuipgltito amy part OF
thetlx5.s a. other revenues uf the State, not
REQUIRED for the ordinary and eHV.cst expenses
of ley t.FDr,,ent. and unless in OF war; invI-
siop or resurrection, no part of the said sinking
fund shall he used or applied otherwise than in
extinguishnlent OF tht public debt, until the
amount Of sGcn debt is reduced below the sum
Of FIVE millions Of dollars.
Section s. THE cre,iit OF the commonwealth
shall not in any manner, event, be pledged, or
loaned to- ans individual, company, corp"ra-
tion o, associatiob; nor shah the common
wealth hereafter becomes joint owner. or stock
holder, In any company, association or corpora
tion.
SEC. G, The commonwealth shall not assume
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 rcpel invasion,
suppress domestic insGrrcction, dcienl itself in
time of war or tD assist the State in thf dis
charge of any portion Of its present indebted.
ness.
SIC. 7. The Legislature shall not authorize
am county city, borough, township, iucur-
porated district, by virtne of vote of its citi-
Eens or otherwise, TO become 3 stockhodDr in
any company, association or corporation; or to
pbtain money for, or loan its credit TO, any COR
oorasion association, institution ar party.
SECOND AMENDMENT.
There shall be an additional article To- sadi
constitution, TO be designated article MI, as
follows: