Iron County register., 1902-10-09

amendment to the constitution of the
state of Missouri, concerning revenue and
taxation, shall be submitted to the Quali-
fed voters of said state, to wit:
o That section u of article X of the
constitution of the. state Of Missouri, be
amended by adding after the word
same" in the last line of said section,
the following:
provided, that in the city of st. Louis
the amount of bonds now aggregating
Sc, Ill 200, that being the amount assumed
by said city in the scheme of separation
from the county of St Louis, and the
sum of $5,SQS, 900 heretofor prior to jan
uary l, 1901, expended in the construction
of waterworks for the city of st. Louis,
and any bonds which may be hereafter
issued by said city in the construction
and improvement of waterworks, the
payment of the interest Whereon ana the
principal whereof shall he provided from
the revenues of said waerworks; that is
to say, the amount of s1id bonds which
shall be outstanding at ~ time shall not
be included in the comptiation OF the eX-
listing bonded Indebtedness in determining
the amount of bonds authorized to be is
sued by said city with the assent of two
thirds of the voters under the provisions
of this article, but said city shall be au-
thoriZed at any time to issue bonds with
the assent aforesaid to an amount in
cluding outstanding Indebtedness other
than that above named, to the amount
of five per cent of the value of the
certained as above provided, and said city
shall have power, with such assent of the
voters, to issue bonds for the construc-
tion and Improvement of waterWorks, the
interest whereon and the principal where
of shall be provided for from the income
of said waterworks. Said city shall es-
tablish a sinking fund for the payment
of the bonds so authorized according to
the times fixed from the maturity of the
same; Provided, further, that in the city
of Kansas City, the amount of bonds
issued by said city, bearing date July |,
1870, for acquiring WaterWorks and all
bonds. hereafter issued in renewal of said
bonds or any portion thereof shall not be
included in the computation of the exist
ing bonded Indebtedness of said city in
determining the amount of bonds author
lied to be issued by said city, with the
assent of two-thirds of the voters under
the provisions of this article, but said
city shall be authorized at any time to
issue bonds with the assent aforesaid to
an amount including outstanding in
debtedness, other than that above named,
to the amount of five per centum of the
value of the taxable property in said city
to be ascertained as above. specified so
that said section of the constitution,
when amended, shall read as follows
Section r. Municipal Indebtedness,
Limit of.-No county, city, town, town.
ship, school district or other political cor
poration or subdivision of the state, shall
be allowed to become indebted in any
exceeding in any year the income and
revenue provided for such year, without
the assent of two-thirds of the voters
thereof voting at an election to be held
for that purpose nor in cases requiring
such assent shall any indebtedness be al
lowed to be incurred to an amount in
cluding existing indebtedness, in the ag-
gregate exceeding five per centum on the
value of the taxable property therein, to
be ascertained by the assessment next
before the last assessment for state and
county purposes, previous to the incurr-
ing Of such Indebtedness Provided, that
with such assent any county may be al
lowed to become indebted to a larger
amount for the erection of a court house
or Jail; and provided further, that any
county, city, town. township, school dis
trict, or other political corporation or
subdivision of the state, mourning any
Indebtedness requiring the assent of the
voters as aforesaid, shall, before or at
the time of doing so, provide for the col
lection of an annual tax sufficient to pay
the interest on such Indebtedness as it
falls due, and also to constitute a sink
ing fund for payment of the principal
thereof within twenty years from the
time of contracting the same: Pro-
vided, that in the city Of st. Louis
Sc, Ill 900, that being the amount assumed
by said city in the scheme of separation
from the county of st. Louis, and the
sum of S5S0S, 900 heretofore prior to Jan
of waterworks for the city of st. Louis
and any bonds which may be hereafter
issued by said city in the construction
and improvement of waterworks, the
payment of the interest whereon and the
principal whereof shall be provided from
the revenue of said waterWorks; that is
to say, the amount of said bonds which
shall be outstanding at any time shall not
be included in the computation of the eX-
isting bonded indebtedness in determining
the amount of bonds authorized to be is
sued by said city with the assent of two
thirds of the voters under the provisions
of this article, but said city shall be au-
thorized at any time to issue bonds with
the assent aforesaid to an amount includ-
ing the outstanding Indebtedness other
than that above named, to the amount
of five per cent. of the value of the
taxable property in said city, to be as
certained as above provided, and said city
shall have power with such assent of the
voters. to issue bonds for the conStruc-
tion and Improvement of waterworks, the
interest whereon and the principal where
of shall be provided for from the income
of said Waterworks. Said city shall es-
tablish a sinking fund ,for. the payment
of the bonds so authorized according to
the times fixed from the maturity of the
same: san Provided, further that in the city
of Kansas City, the amount of bonds
issued by said city, bearing date July /,
1896, for acquiring waterworks and all
bonds hereafter issued in renewal of said
included in the computation of the exist
ing bonded Indebtedness Of said city in
determining the amount of bonds author
ized to be issued by said city, with the
assent of two-thirds of the voters under
the provisions of lnis article, but said
city shall, be authorized at any time to
issue bonds with the assent aforesaid to
an amount including outstanding in
debtedness, other than that above named,
to the amount of five per oentum of the
value, of the taxable property In said city
to be aseertained as above specified.
SEVENTH c o N S It 1T u 4 IO NAL
AMEND DMENT, ,v-Senate joint and concur
rent resolution submitting to the qualified
voters of Missouri an amendment to the
constitution thereof to define the status
of the state certificates of Indebtedness
now on deposit in the state treasury and
held In trust for the public school fund"
and the seminary fund.- to extend and
perpetuate the samei to provide for the
payment of the interest thereon; and to
provide for the future investment of
school and seminary funds.
Be II resolved By the Senate, the House of
Representatives concmring therein, as fol-
lolDs!
That at the general election, to be held
ktA cIot naxyf fall ip.r u,