Juniata sentinel and Republican. [volume] (Mifflintown, Juniata County, Pa.) 1873-1955, 1873-11-19

dered or suspended by any contract Of
grant to which the State shall be party.
SEc. 4. No debt shall be created by or on
behalf of the State, except to supply casuAi
deficiencies of revenue. repel invasion. sup
press insurrecfion, defend the Stale III war,
or 10 paw existing debt, and the deot crca,
ted 10 supply deficiencies IN revenue shai
never exceed IN the aggregate at any one
time one million OF dollars.
SIC. s. All Laws authorizing the borrow
! ing OF money by and on behalf cf the STATE
shall specify the purpose Tor wfich the
money is TO be used, aud the money so
borrowed shall be used Tor the purpose spe-
! Gifted and no other.
/ Syc. 6. The credit of the Commonwealth
! shall not be pledged or loaned TO any intii-
yidual, company, Corporation, or associa-
/ tion. nor shall the Commonwealth become
! ioint owner or stockholder in any COM
/ rauy, association or corporation.
SEC. Z. The General Assembly shall not
authorize auy county, city, borough. town.
ship or Incorporated district TO become
stakeholder in any company, association or
corporation. or to obtain or appropriate
money for or to loan its credit to any cor
poratjon, association, institution or indi-
vidnal.
! SEC 8. The debt of any county, city,
,arausb townsbip. school district, or other
r,nnicira,ity. or Incorporated district, ex-
cent as herein prov led, shall never exceed
s.t..n par ceptum Upon the assessed value
I of the taxable property therein, nor shall
any such municipality or district incur any
-. An, or increase its Indebtedness TO an
an,ount eyceedipg two per centum upon
s,.b assessed valuation of property with
ont the assent of the electors thereof, . ~
nrhlic election, in such manner as shall De
r-ovided by law. but any city, the debt of
Which now exceeds seven per centum Of
surb assessed valuation, NAV be authorized
hv law 10 increase the same three per GEN.
tnm in the arrregst. at sny one time upon
srcb valuation.
SIC Q. The Commonwealth shall not as
s,m. the d.bt. or apv part thereof, of any
citv county. borough or township, unless
.ucb debt shall have been contracted to en-
,bI- the State 10 repel Iavasion, suppress
dnw,stic :nsurrection. defend it,eli in time
of war. or 10 assist the State in the dis
charge of anv portion of its present ill.,
debtedness.
Src. 10. any county, township, school
district. or other municipality incuring
any indebtedness. shall. at or before the
{ time of so doing. provide Tor the COitCtlOt
of an annual tax sufficient to pay the inter-
rst and also the principal thereof within
thirty wears.
SILL To provide for the PAYMENT OF
the present State debt and any additional
debt contracted as aforesaid, the General
Assembly shall continue and maintain the
sinking fund sufficient to ,ay the accrling
interest ON such debt. and annually to re,
ouce The pripcju.ai thereof by a sum moi
less than two hundred and fifty thousand
doIlar. the aid sinking fund shall consist
of the proceeds of the sales of the public
works or any part thereof. and of the in
come or proceeds of the sale of anv stock.
owned bv the Commonwealth, together
with other funds and resources that may b,
designated by law. and hall be increased
from time To Zine by assigning TO It any
EAR, of the taxes or other re, enuc of h,
State not required for the ordinary anG