The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1869-05-18


tanned the age of twenty-one years, which
shall be applied exclusively in aid of pub
lie free schools and counties and corpora
tons shall have power to impose a capita
ton tax not exceeding fifty cents per an
mum for oil purposes.
SECTION 6. The General Assembly shall
provide for reSssessment of the real es-
tate Of this State in the year 1869, or az
soon thereafter as practicable, and every
fifth year thereafter Prouided, In making
such assessment no land shall be assessed
above or below its value.
SECTION 7. No debt shall be contracted
by this State except to meet casual deficits
in the revenue, to redeem a previous La
bility Of the State, to sup press insurrec-
ton, repel invasion, or def end the State in
time of war.
SECTION 8. The Gems raj Assembly shall
provide by law sinki Dg fund, to be ap-
piled solely to the payne ut and eztinguish-
ment Of the principal of the State debt,
which sinking fund shall be continued
until the extinguishment of such State
debt and every law hereafter enacted by
the General Assembly creating q debt or
|
fund for the payment Of the same.
SECTION o. The unfunded debt shall not
be funded or redeemed at o value exceed
ing that established by law at the time said
debt was contracted, nor shall any dis
elimination hereafter be m ade in paying
the interest on State bonds which shall
give higher actual value to bonds held in
foreign. countries over the same class of
bonds held in this country.
SECTION 10. No money shall be paid out
of the State Treasury except in pursuance
of appropriations made by law; and no
appropriation shall ever be made for the
payment of any debt or obligation created
in the name of the State Of Virginia by
the usurped and pretended State authori-
ties assembled at Richmond during the late
war; and no county, city, or corporation
shall levy or collect any tax for the pay
ment Of any debt created for the purpose
of aiding any rebellion against the State
or against the United States.
SECTION II. On the passage of every act
| which imposes, continues, or revives, any
| appropriation of public or trust money OF
property, or releases, discharges, or COM
mutes any claim or demand of the State,
the vote shall be determined by ayes and
| noes, and the names of the persons voting
| for and against the same shall be entered
| on the journals of the respective Houses,
and majority of all the members elected
to each House shall be necessary to give 1t
the force of law.
SECTION II. The credit of the State she'll
not be granted to or in aid of any person,
association, or corporation.
SECTION Is. No scrip, certificate, or
| other evidence of State Indebtedness, shall
be issued except for the redemption of
stock previously issued, or for such debts
as are expressly authorized in this Conati-
tuition.
SECTION IA. The State shall not sub
scribe to or become interested in the stock
of any company, association, or corpora
| ton.
SECTION Is. The State shall not be
party to or become interested in any work
of internal Improvement, nor engage in
carrying on any such work otherwise than
in the expenditure Of grants to the State of
land or other property.
SECTION 16. Every law which imposes,
continues, or reVives tax shall distinctly
state the tax and the object to which it is
to be applied, and it shall not be sufficient
to refer to any other law to fix such tax
or object.
SECTION II. The State shall not assume
| any indebtedness Of r county, borough, or
city, nor lend its credit to the came.
SECTION IS. A full account of the State
Indebtedness, aud au accurate statement OF
| the receipts and expenditures Of the public
| money, shall be attached to and published
| IL ;Ic LIZ ro,soJ or raOnlnr
sion Of the General Assembly.
SECTION 10. The General Assembly shall
provide by law for adjusting with the State
of West Virginia the proportion of the
public debt of Virginia proper to be borne
| by the State of Virginia and West Virgil
| MIA, and shall provide that such sum as
shall be received from West Virginia shall
be applied to the payment of the public
debt OF the State.
SECTION 90. No other or greater amount
of tax or revenue shall at any time be
| levied than may be required for the neces-
sary expenses Of the government, or to
pay the existing Indebtedness of the State.
SECTION 81. The liability to the State
of any incorporate company or institution
to redeem the principal and pay the inte-
rest Of any loan heretofore made by the
State 20 tuch company or institution shall
not be released or committed.
TSry.
Upon debts hereafter contracted it shall
be lawful to receive any rate of interest
not exceeding twelve Per centum per an
mum, which may be agreed upon by the
parties, and be specified in the bond, note,
or other writing evidencing the debt. When
there is 10 such agreement, the rate Of in
terest shall be six per centum per annum
for the use and forbearance of every hum
dred dollars.
ARTICLE NI.
MISCELLANEOUS PROVISIONS.
Homestead and other Exemptions.
SECTION l. Every householder or head OF
O family shall be entitled, in addition to the
articles now exempt from levy or distress
for rent, TO hold exempt from levy, seizure,
Commissioning. or sale, under any execution,