Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1902-10-23

amendment to the constitution of the
state of Missouri, concerning revenue and
taxation, shall be submitted to the quail
fed voters of said state, to wit:
q That section II 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 a~ggregating
by said city in the scheme of separation
from the county. of st. Louis, and the
sum of $5,SQS, 900 heretofore prior to IAN
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 constructor
and Improvement of waterworks, the
payment of the interest wherein and the
principal whereof shall be provided from
the revenues of said waterworks; that Is
to say, the amount of said bonds winch
shall be outstanding at any time shall not
be included in the computation 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
Guiding outstanding Indebtedness other
than that above named, to the amount
Of five per cent. of the value or 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-
ton 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 !,
1896, for acquiring waterWorks and al
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 L. 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
manner or for any purpose to an amount
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 IN amount In
Guiding existing indebtedness, in the ag-
gregate exceeding live per centum on the
value of the taxable property therein, to
be as%certained 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 1t
falls due, and also to constitute a sink
ing fund for payment of the principal
thereof within twenty years from the
vided. that in the city of st. Louis
the amount of bonds now aggregating
Sc, III 900, that being the amount assumed
by said city in the scheme of separation
from the county. of st. Louis, and the
sum Of 5,S0S, 900 heretofore 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 wherein 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-
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 IN amount includ-
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
voters, to issue bonds for the construc-
ton and improvement of waterworks, the
interest wherein and the principal where
of shall be provided for from the income
of said w~aterworks. Said city shall es-
tablish a sinking fund for the payment
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 |.
1895. 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
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 centum of the
value of the taxable property in said city