The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1907-05-06

50 become d stockhoidsr in sny company.
associnton, OF corporation, or 20 oblaia
Or Appropriate rloneY for Or levy auy
tax for. Or to loan rs credit to any s9r-
porati0n. association Or Individual
Sec 1S The Legislature may authorize
the levy and collection Of a poll tax on all
electors Of this state. under sixty years
OF age. not exceeding two dollars per
capita, per annum. and may provide
penalty for the non-payment thereof
Sec ls. every act enacted By the Leg
siatsre, and every ordinance and reso-
utlon passed BY any county, city, town,
or municipal board or local legislative
body levying a tax shall specify dis
tinctly the purpose for which said tax
Is levied and no tax levied and collect
ed fer one purpose shall ever be devoted
to another purpose.
Sec. 20. The Legislature shall not im-
pose taxes for the purpose Of any coun-
ty. city town, or other municipal cor
poration. but may. by general laws. con-
fer on the proper authorities thereof. re-
spectively. the power to assess and col
leet such taxes.
Sec. 2l. There shall be state Board
OF Equalization consisting OF the Cover
nor, State Auditor. State Treasurer, Sec
retary Of State. Attorney General. State
Inspector and Examiner. and President
Of the Board OF Agriculture. The duty
OF said Board shall be to adjust and
equalize the valuation Of real and per-
sonaI property Of the several counties
in the State and it shall perform other
duties as may be prescribed by law, and
they shall assess all railroad and public
service corporation property.
Sec. 22 Nothing in this Constitution
shall be held, or constructed to pre-
vent the classification OF property for
purposes Of taxation and the valuation
Of different classes by different means
or methods.
public Indebtedness
Sec. 2s The State may, to meet casual
deficits or failure in revenue or for ex-
penses not provided for, contract debts
but such debts, direct and contingent.
singly or in the aggregate. shall not at
any time, exceed four hundred thousand
dollars, and the moneys arising from the
loans creating such debts shall be ap~
piled to the purpose for which they were
obtained or to repay the debts SO con-
tracted, and to no other purpose what
ever.
Sec, a. In addition to the above lin
tied power to contract debts, the State
may contract debts to repel invasion,
suppress insurrection or tn defend thul
State in war; but the money arising from
the contracting Of sucn debts shall be-
applied TO the purpose for which It was
raised or to repay such debt. and to no
other purpose whatever.
Sec 25. Except the debts specified inl
sections twenty-three and twcnty-four OF
this article. no debts shall be hereafter
contracted by or on behalf OF this State.
unless such debt shall be authorized BY
! law for some work or object, to be dis
tinctly specified therein; and such lawI
shall impose and provide for the collec-
] ton OF direct annual tax to pay, and
! sufficient to pay. the interest on such
debt as 1t falls due, and also to pay and
! discharge the principal Of such debt
, within twenty-five years from the time
/ Of the contracting thereof No such Law
shall take effect until 1t shall, at gem
e eral election, have been submitted to
t the people and have received majority
r of all the votes cast for and against 1t ak
( such election. On the final passage Of
e such bill in either House Of the Legisla-
s ture, the question shall be taken by yeas
/ and nays, to be duly entered on the jour
) nails thereof and shall be. "Shall this
t bill pass, and ought the same to receive
J the sanction Of the peopleT'
Sec 2s. No county. city. town. town.
: ship. school district or other political
r corporation, or subdivisions Of the State,
q shall be allowed to become Indebted. in
a any manner. or for any purpose, to an
: amount exceeding. In any year the in
e come and revenue provided for such year,
, without the assent OF three-fourths Of the
I voters thereof voting at an election. to
be held for that purpose. nor IN cases
/: requiring such assent shall any indebt-
| edness be allowed to be incurred to an
e amount including existing Indebtedness
y in the aggregate exceeding five per Gen.
!. tnm OF the valuation OF the taxable prop
: erty therein. to be ascertained from thl
r last assessment for State and count,
r purposes praHous to the incurrlng o.
= such Indebtedness: Provided. That an,
n county, city, town, township. school dis
S tricl. or other political corporation o
h subdivision Of the State incurring an,
/, Indebtedness, requiring the assent Of th'
a voters as aforesaid. SHALL before or a
S the time OF doing so. provide for the col
Il lection OF an annual tax sufficient to pa.
= the interest on such indebtedness as i
falls due, and also. to constitute a sink
q Ing fund FOR the payment Of the princi
Z pal thereof within twenty-five year
= from the time Of contracting same.
Z Sec n. Any incorporated city or tow
s in this State may, by majority Of tn
d qualified property tax paying voters 0
s. such city or town. voting at an election
;; 70 be held for that purpose, be allowe
'r to become Indebted In a larger amour
than that specified m section twenty
J. six, for the purpose Of purchasing o
IS constructing public utilities. or for re
5, pairing the same, to be owned exclusive
~ by such city: Provided, That an
A. such city or town incurring any such In
ic debtedness requiring the assent Of n