Lewistown gazette. [volume] (Lewistown, Pa.) 1843-1944, 1857-09-17
FIRST AMENDMENT.
ARTICLE XII.
nF puRLIC DEBTS.

SECTION /. The state may con'i az a..o,,,,es
supply casual deficits or ialiuFes III lo -, 80
or TO meet expenses not otherwise PIofiuc1u! 'o'
but the aggregate amount oil such uSuls uiL.e' i
a,d contiBgent. whether contracted Dy virtue
af ene or more acts Of the general assembly,
or at different periods of time, shall never eX-
oaad seven hupdrei and fifty thousand dollars,
and the money arising from the creation OF such
debts. shall be applied to the purpose Tor which
il was obtained, or to repay the oeoe so con-
tracted and to no other purpose whateSer-
SECTION q In addition to the above iimiteo
mower the state may contract debts to repel IN
yas,on. suppress insurrection. defend the state
in war. or to redeem the present outstanding
Indebtedness of the state; but the money arising
from the contracting cf such debts, shall be
applied to the purpose for which 1t was raised,
or to repay such debts, and TO no other purpose
whatever.
SECTION 8. Except the debts above specified,
in sections one and two of this article, no debt
whatever shall be created by, or on behalf OF
the state.
Section T. To provide for the payment of
the present debt, and any additional debt con-
tracted as aforesaid, the legislature shall, at its
first session, after the adoption of this amend
ment, create sinking fund, which shall be suf
fcient 10 pay the accruing interest on such
debt, and annually TO reduce the principal
thereof by sum 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 same, or any
part thereof, and of the income 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 il
any part of the taxes, or other revenues of the
state not required for the ordinary and current
expenses OF government, and unless in case OF
war, invasion or insurrection, no part Of the
said sinking fund shall be used or applied other
wise than in extinguishment of the public debt,
until the amount of such debt is reduced below
the sum of five millions of dollars.
SECTION 5. The credit of the commonwealth
shall not in any manner. or event, be pledged
or loaned to, any individual. company, corpora
tion or association; nor shall the commonwealth
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 10 repel invasion, suppress domestic
nsurrection, defend itself in time Of war, or to
assist the state in the discharge of any portion
| of its present Indebtedness.
| SECTION 7. The legislature shall not autho-
rize any county, city, borough, township, or in.
| corporated district, by virtue of vote of il:
| citizens, or otherwise, to become a stockhoIdeI
| in any company, association, or corporation; oil
| to obtain money for, or loan its credit to, an,
corporation, association, institution, or party.
SECOND AMENDMENT.
There shall be an additional article TO sale
constitution, to be designated as article XII a.
follows: