The Bloomfield times. [volume] (New Bloomfield, Pa.) 1867-187?, 1873-12-09

the tax, and shall be levied and collected
under general laws; but the General As
sembly may, by general laws, exempt from
taxation public property used for public
purposes, actual places of religious worship
places of burial not used or held for private
or corporate profit, and institutions OF
purely public charity. &ail ~ n'l'1'
Sec. 3 All laws exempting property
from taxation, other than the property
above enumerated, shall be void. 49,,
Sec. 8. The power to tax corporations
and corporate property shall not be sur
rendered or suspended by any contract or
grant to which the State shall be party.
Sec. A. No debt shall be created by or
on behalf of the State, except to supply
casual deficiencies of revenue repel inva-
sion, suppress instruction, defend the
State in war, or to pay existing debt; and
the debt created to supply deficiencies in
revenue shall never exceed, in the aggre-
gate at any one time, one million of dol
lars. ,...
Sec. 5. All laws authorizing the borrow
ing of money by and on behalf of the State,
shall specify the purpose of which the
money is to be used, and the money SO
borrowed shall be used for the purpose
specified and no other.
Sec. G. The credit of the Commonwealth
shall not be pledged or loaned to any in
dividual, company, corporation or associa-
ton, nor shall the Commonwealth become
a joint owner or stockholder in any COM
pany, association or corporation.
Sec T. The General Assembly shall not
authorize any county, city, borough, town
ship or Incorporated district to become
stockholder in any company, association or
corporation, or to obtain or appropriate
money for, or to loan its credit to, any
corporation, association, institution or in
dividual. t.r
Sec. 8. The debt of any county, city,
borough, township, school district or other
municipality or incorporated district, ex-
cert as herein provided, shall never exceed
seven per centum upon the assessed value
of the taxable property therein, nor shall
any such municipality or district incur any
new debt, or increase its indebtedness to
an amount exceeding two per centum upon
such assessed valuation of property, with
out the assent of the electors thereof at
public election in such manner as shall be
provided by law but any city, the debt of
which now exceeds seven per centum of
such assessed valuation, may be authorized
by law to increase tho same three per
centum, in the aggregate at any one time,
upon such valuation.
Sec. 8. The Commonwealth shall not
assume the debt, or any part thereof of
any city, county, borough or township, un-
less such debt shall have been contracted
to enable the State to repel invasion, sup
press domestic insulTection, defend itself
in time of war, or to assist the State in the
discharge of any portion of it's indebted
ness.
Sec. 10. Any county, township school
district or other municipality incurring any
Indebtedness shall, at or before the time of
so doing provide for the collection of an
annual tax sufficient to pay the interest and
also the principal thereof within thirty
years.
Sec. II. 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 pay the accruing
interest on such debt, and annually to re-
duce the principal thereof by sum not less
than two hundred and fifty thousand dol
lars the said 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 any stocks
owned by the Commonwealth, together
with other funds and resources that may
be designated by law, and shall be in
any part of the taxes or other revenue
of the State not required for the ordinary
and current expenses of government and
unless in cases of war, invasion or insur-
rection, no part of the sinking fund shall
be used or applied otherwise than in the ex-
tinguishing of the public debt. RI"
Sec. 10. The moneys of the State,
over and above the necessary reserve, shall
be used in the payment of the debt of the
State, either directly or through the sink
ing fund, and the moneys of the sinking
fund shall never be invested in or loaned
upon the security Of anything, except the
bonds of the United States or of this State.
Sec. 10. The moneys held as necessary
reserve shall be limited by law to the
amount required for the current expenses,
and shall be secured and kept as may be
provided by law. Monthly statements shall
be published showing the amount of such
moneys, where the same are deposited, and
how secured.
Sec. IA. The making Of profit off of the
public moneys or using the same for any
purpose not authorized by law by any
officer of the State, or member or officer of
the General Assembly, shall be misde-
meanor and shall be punished as may be
provided by law, but part of such punish
ment shall be disqualification to hold office
for period Of not less than five years,
ARTICLE X.
Education.
Sec, /. The General Assembly shall
provide for the maintainance and support
of a thorough and efficient system of public
schools, wherein all the children of this
Commonwealth above the ages of six years
may be educated, and shall appropriate at
least one million Of dollars each year for
that nnrnoea. I.ifaI a.H.l .-.l... .