The Tiffin tribune. (Tiffin, Ohio) 1868-1887, 1874-06-18

shall, when necessary to the public
convenience or welfare, have such
power of local taxation and assess
ment for police purposes, for con-
strueting and Improving bitches and
public roads other than railroads, ard
for clearing water-cOurses, as may be
prescribed by law.
ARTICLE XI.
Municipal Corporations.
Section 1. The general assembly
shall provide, By general laws, for the
organization and classification of mu-
nicipal corporations. The number
Of such classes shall not exceed six,
and the powers of each class shall
be defined by general laws, so that no
such corporations shall have any
powers, or be subject to any restric-
lions ,Other than all corporations of
the same class. The general assem-
bly, shall restrict the power OF such cor
pOrations to levy taxes aud assess
ments, borrow money and contract
debts, so as TO prevent the abuse of
such power.
Sec. 2. No municipal corporation
shall loan its credit to any person or
corporation, except as may be other
wise provided in this Constitution.
Sec. 8. No ass ssments shall be
levied by a municipal corporation
upon any property, which shall re-
qulre the payment in one year of
more than ten per eentum of its value
as aseertained by the tax duplicate;
nor shall the sggi egate of such assess
menLs, in any period Of ten years, ex-
ceed fifty per centum Of the highest
taxable valuation of such property
during the same period.
Sec. 4. The Indebtedness of u mu-
nicipal corporation shall never exceed
in the aggregate five per eentum of
the value of the property within
such corporation, as aseertained from
time to time by the tax duplicate
thereof, without the consent, first
obtained, to such increase of indebted
ness, and; the approval Of the objects
for which the same is to be created,
of at least three-fourths Of all the
electors of such corporation, to be
aseertained in the mode prercribed by
law; and in no case shall such indeb-
tedness exceed ten per eentum OF
said taxable value. In ascertaining
such Indebtedness, there shall be
/ included an amount which, at the
rate of six per eentum per annum,
will produce a sum equal to the ag-
gregate annual rents payable by such
corporation. This section shall not
be construed to prevent municipal
corporations from incurring indebted
ness necessary for military purposes
in time of war, or for the completion
of any work authorized by law and
heretofore undertaken; nor, until the
first valuation of real estate for taxa
tiOn hereafter made, to prevent the
borrowing of money in anticipation
of the collection of assessments ae-
tually levied.
Sec. 3. Except as otherwise pro-
Hsaa III this g III or tax
or debt contracted by a municipal
corporation, except in pursuance OF
law for public purposes specified by
law; nor shall money raised by taxa
ton, loan or assessment, for one pur-
pose, ever be diverted to another.
Sec. 6. No property shall be ap-
prOpriated to the use of n municipal
corporation, until compensation there
for be first made in money, or first
/ SCCuACO OI q VI " OC
assessed in the manner and by the
rule prescribed in section nineteen OF
the bill Of rights.
ARTICLE XII.
Private Corporations.
Section I. The general assembly
shall pass no special act comforting
corporate powers
| Sec. 2. Corporations may be form
ed under general laws, but such laws
may, from time to time, be altered or
/ repealed.
see. 5. Dues from corporations
shall be secured by such individual
liability Of the stockholders and other
means as may be prescribed by law;
but, in all eases, each stOckholder
shall be liable over and above the
stock by him or her owned, and any
amount unpaid thereon, to a further
sum at least equal in amount 10 such
/ stock.
| Sec. 4. No property shall be ap-
prOpriated to the use of a corporation
until full compensation therefor be
first made in money or first secured,
by a deposit of money, to the owner,
irrespective of any benefit from any
Improvement proposed by such cor
Lporation; which compensation shall
be ascertained by 8 jury of twelve
men, in a court OF record, as may be
prescribed by Law.
Sec. 5. No act of the general as
sembly authorizing the issue Of bills,
notes or other paper, which may cir
cuIate as money, shall take effect un-
! til submitted to the people, at the
I general election next succeeding the
passage thereof, and approved by 8
majority Of the electors voting at such
election; and the redemption Of all
such paper shall be fully secured by
the deposit Of sueh securities Of the
United States or Of this state, as may
be prescribed by Law.
| See. 9. The directors OK = corpora
ton shall be chosen at one time BY
general ticket. At elections for direc-
tors, each shareholder shall have As
many votes as the number OF shares
held by him, multiplied by the nRm-
Der OF directors to be chosen, and may
cast all his votes for one candidate, or
distribute them, as be may see fit.
Sec. Z. Foreign corporations may
be authorized to do business in this
state, under such limitations and re-
strietions as may be prescribed BY
law: and, as to contracts made OF
business done in this state, shall be
subject TO the same regulations, limi-
tatiOns and liabilities as like corpora
tiOns of this state; and shall exercise
/ no other or greater powers, privileges
or franchises, than may be exercised
by like corporations OF this state; mol
shall they have power 70 condemn Oh
appropriate private property.
Sec. s. The general assembly may,
by general law, subject TO the previs-
ions OF this constitution, extend the
existence Of societies for savings, ere
ated prior to the first day of Septem-
Der, one thousand eight hundred and
fifty-one, whose charters are subject
TO alteration, amendment or repeal
No other corporations Of this state, In
corporated prior to the first day OF
Nav, one thousand eight hundred and
] fifty-two, shall have the benefit Of any
law passed Vince that date, or which
shall hereaftSr be passed, except laws
regulating judicial procedure, unless
they shall reOrganize under and sub
jeet to the provisions Of this eonstltu'
/ Sec. 9. No officer or agent Of aDy
company owning, operating or using
railroad within this state, shall bs
interested, directly or Indirectly, eith'
er by himself or associated with 9th
ers, in the receipts, contracts or earn,
ings of such company, otherwise thar
~ an ordinary shipper or passenger
or as 9 stoekbOlder, bond creditor o.
empioye; nor Ia any arrangement
which shall afford more advantage
Gus terms or greater facilities than ar
offered and accorded To the public
and ali contracts and arrangement
: i'm violation OF tnis section shall D
! void.
Sec. &c. No railroad company shal
Consolidate with another, having {
| line parallel or competing with Il
, own: or lease, purchase or e0ntro
, such line; and no officer Of 3 railroa'
company shall act as an officer OF an,
, other company owning or CONTROL