The democrat. [volume] (Weston, W. Va.) 1868-1874, 1872-05-06

ton, except for the support Of Free
Schools; payment Of Indebtedness ex.
listing a, tho time Of the adoption Of
this Constitution; and for the payment
of any indebtedness with the interest
thereon, created under tho succeeding
section. unless such assessment, with
all questions involving the increase Of
such aggregate, shall have been sub.
United to the vote OF the people Of the
county aud have received thrCc.ffths
Of all the votes cast for and against it
s No county, city, school diarict,or
municipal corporation, except in cases
where such corporations have already
authorized their bonds to be issued,
shall hereafter be allowed to become
indebted, in any manner, or for any
purpose, to an amount. including ex-
listing Indebtedness. IN the aggregate,
exceeding five per Gsntum on tue value
Of the taxable property therein, to be
ascortaincd by the last assessment for
State and county taxes, previous TO the
mourning Of such Indebtedness; nor
without, ut the same time, providing
for the collection Of a direct annual tax,
sufficient to pay, annually, the interest
on such debt, and the principal thereof,
within and not exceeding thirty.fOur
years: PrOrided, That no debt shall
be contracted under this section, unless
all questions connected With the same,
shall have been first submitted to a
vote of the people, and have received
three. Gftbs Of all the votes cast for and
against the same.
0. The Legislature may, by law,
authorize the corporate authorities OF
citics, towns aud villages, for corporate
purposes, to assess aud collect taxes (;
but such taxes shall be uniform, with
respect to persons and property within
the jurisdiction of the authority in
posing the same.
ART XI,--CorpOratiOnS Tile
Legislature shall provide for tue organ
ization of all corporations hereafter to
be created, by general laws, uniform rs
tie the class to which they relate but
no corporation shall DO created by
special law Proriisi, That nothing
III this section contained, shall prevent
the Legislature from providing by
special laws for the connection, by ca
nal, Of tho waters of the Chesapeake
with tho Ohio river, by line Of the
James river, Grccnbricr, New river
aud Great Kanawha.
. The stockholders Of all corpora.
tons aud 10 ut ,tO, k compnnrcs. except
banks aud banking institutions, created
by laws of this State, shall be liable for
the Indebtedness OF such corporations
to the amount Of their stock subscribed
aud unpaid, and no more
8. All existing charters or grants Of
special or exclusive privileges, under
which organization shall not have taken
place, or which shall not have been in
operation within two years from the
time this Constitution takes effect, shall
thereafter have no validity or effect
whatever: Prorided, That nothing
herein shall prevent the execution Of
any bona liie contract heretofore law
fully made in relation to any existing
charter or grant in this State.
4. The Legislature shall provide by
law that in all elections for directors or
managers of incorporated companies,
every stakeholder shall have the right
to vote, in person, or BY proxy, for the
number Of shares Of stock owned BY
him, fer as many persons Us tbsrO are
directors or managers 20 be elected, or
to emulate said shares, and give one
candidate as many votes as tho number
of directors multiplied By the humber
Of his shares of sock, shall equal, Or to
distribute them on the same principle
among rs many candidates us ho shull
think 1T: and such directors or mana.
gers suall not be elected in any other
manner
5. No law shall be passed By the
Legislature granting the right to con.
struct aud operate a street railroad
within any city, town, or Incorporated
village, without requiring the consent
of the local authorities having the
control Of the street or highway pro.
posed TO be occupied by such street
railroad.
G. The Legislature may provide, by
gcaornl banking law, for the creation
aud organization Of banks Of issue or
circulation. but the stockholders Of
any bank hereafter authorized BY laws
of this State, whether Of issue, deposit,
or discount, shall be personally liable
to the creditors thereof, over and above
the amount of stock held by them res.
pectircly, to an amount equal to their
respective shares SO held, for all its LA.
bilitcs accruing while they arc such
stock holders.
I. Every railroad corporation, or.
ganiled or doing business in this State,
shall annually, by their proper officers
IN Ee report under oath, to the Audi.
tor Of Public Accounts Of this State, or
some officer to be designated BY law,
setting forth the condition Of their at.
fairs, the operations Of the year, and
such other matters relating to their
respective railroads as may be pre-.
scribcd by law. The Legislature shall
pass laws, enforcing by suitable penal.