The state herald., 1894-11-02

outW tHe 6tbtci rtOVlWcu, 1nht inc NUtltA.
uons Of this section shall not apply TO tho
guaranty BY any such county. city ,or town, OF
bonds or warrants issued IN tho construction
NJ local improvements, and payable out Of
moneys To be collected by special assessments
on tho property benefited. by such bonds and
warrants may be guarantcedin such manner
and suhJcctto such Limitations M may DO
prescribed by law"
SEC. .. section of said Article shall he 20
amended us to read rs follows; "sIc. 8. No
city or town shall contract any debt by loan
In amy form. except by means Of an ordinance.
which shall be lrrcrcaiablc nm I'll the indebt
cdncss therein provided for shall have boon
fully paid or discharged; specifyin tho pur'
poses to winch tho funds 10 10 raised shall be
applied, aud providing for the levy Of tag,
not exceeding twelve (i9) mills on each dollar
Of valuation Of taxable property within such
city or town. sufficient to pay the snnuni in.
tcrest. ana cxtingui-h the principal Of such
debt within fifteen (lb) but not less than ten
lol years from the crcntion thereof; and such
tax hen collected shall he applied only to
thcpurp,ses in snch or.iir ances specified unul
tile Indebtedness shall b, p,id or discharged.
But no such debt shall DO ere It d unless the
question of mourning the same shall, at reg
ular cIcctio , for counciin,en. alderman or Of
fiecrs Of such city Or t,wn, bo submitted to u
vote OF such qualified e'ectors thereof rs shall.
In the year mex preceding have paid q prop.
crty TAX therein, and majority OF those vot
Ing on the question. by bali,t deposited In u
separate baliot box, shal vote in favor of
creating such debt; but the nggreYat. amount
ef debt so created. together with tho debt cx-
listing Mt the time q, uch election. shall not
atany time exceed Tires (s) per cent of tho
valuation last Aforesaid Debts contracted
for suppl ing water TO such city OF town are
exc,ptcl from tho operatio, Il this section.
The valuation IN IN section usentio, cd shall
be ln Rll cases that Of this rsse.smsnt acxt pre-
ceiling the last ass ssinrnt before Tn adopt
ion Of such ordinance. Provided. That IN
citl1s having population Of moro than twcn'
ty.hvc thousand IN. eeo) AN addition iindobt
cincss o. not mors than two ~ per ceiit. "
tho anme valuation In'yin like manner and
by like nnih"rit, boincurr.d Tor the purp ise
Of acquiring and improving sites Tor parks
ind and park-ways Tor such city. and that the
aggregate amount VI such cbt so or atcd, u.
gcthcr with the debt existing at thn time of
snch election, may equal but shall not exceed
at any time Ave t5l PEI cent. of the sams valu.
alton, and Provided, That the limitations Of
this Section shall not 'ppiy 70 the guaranty
by any such city or t,wn,f any bonds or war.
rautsis ucd by III. Ii city or town In the CON
slruction of local improvements; but in dis.
chargr OF su, II guaranty. su II city or town
may purchase and hold bonds or warrants ~
guaranteed. and DO subrogated to nil the
rignts If the h 7ldcrs thereof"
SEC. 3-Each electof voting at said election
and dcsir"us OF voting forcr against all thu
Amendments to said Article, proposed n, said
election, thall dcpositin the ballot box tick
ct whercon shall be printed the words "for
the Amendments" or Against the Amend
mcnts." Any such eicctor not DESTROYS of
voting aforesaid may express his approval
,r rejection of any one or n'ore ii the amend
meats to said Article :, proposed; Provided,
That he shall designate each amendment so
approve or rejected by him by number as 1t
appears In this act.
SIC The votes cast for the adoption or
rejection OF said amendment, .,r either or any
4 them. shall be canyassc and the result
determined. In the manner provided by til.
laws Of til state for the canvass OF votes for
Representatives II Congress.
Approved April 8, 1883.