The Dawson news. (Dawson, Ga.) 1889-current, 1910-08-24
PROCLAMATION.

Augusta to Increase It's Indebted
ness.
BY his Excellency, Joseph NJ. Brown,
Governor.
Atlanta, Ca, August 8, 1910
Whereas, the General Assembly, at
it's session in 1909, proposed an
amendment to the Constitution of
this State as set forth in an Act APP
proved August 18th, 1909, to-wit:
An act to amend Paragraph one
of Section seven of Article seven 81
the Constitution of this State, so as
to provide for allowing the City
Council of Augusta, which owns both
power producing canal and water
works, to increase it's bonded indebt-
edness beyond the amount now al
lowed under said paragraph, under
certain circumstances, for the pur-
pose of flood protection.
Section l. Be it enacted by the
General Assembly of the State of
Georgia, and it is hereby enacted
by the authority of the same, That
paragraph one of Section seven Of
article seven of the Constitution of
this State is hereby amended by add
ing at the end of said para graph the
following words Except that the
City Council of Augusta, from time
to time as necessary, for the pur-
pose of protection against floods, may
incur a bonded Indebtedness upon its
power producing canal and municipal
waterworks, in addition to the debts
N haf ina hi Of
lowed to be incurred, to an amount
in the aggregate not exceeding fifty
percentum ofithe combined value of
such properties; the valuation of
such properties to be fixed as may be
prescribed by. law, but said valua-
ton not to exceed a figure five per
cent, on which shall represent the
net revenue per annum produced by
the two such properties together at
the time of said valuation, and such
Indebtedness not to be incurred ex-
cept with the assent of two-thirds
of the qualified voters of such city,
at an election or elections for that
purpose, to be held as may be now,
or may hereafter, prescribed by law
for the mourning of the new debts
by said the City Council of Augusta,
so that said paragraph when amend
ed shall read as follows
Paragraph !. The debt hereafter
incurred by any county, municipal
corporation of political division of
this State, except as in this Constf-
tuition provided for, shall not ex-
coed seven per centum of the as
sessed value of all the taxable prop
erty therein, and no such county,
municipality or division shall incur
any new debt, except for a temporary
loan or loans to supply casual de-
ticiencies of revenue, not to exceed
one-fifth of one percentum of the
assessed value of taxable property
therein, without the assent of two
thirds of the qualified voters there
of, at an election for that purpose
to be held as may be prescribed by
law; but any city, the debt of which
does not exceed seven per centum
of the assessed value of the taxable
property at the time of the adoption
OF this Constitution, may be author
lied by law to increase, at any time,
the amount of said debt. three per
centum upon such assessed valua-
ton; except that the City Council
of Augusta, from time to time, as
necessary, for the purpose of .protec-
ton against floods, may incur a
bonded Indebtedness upon it's power
producing canal and municipal wa
terworks, in addition to the debts
hereinbefore in this paragraph al
lowed to be incurred, to an amount
in the aggregate not exceeding fifty
per centum of the combined value
of such properties, the valuation Of
such properties to be fixed as may be
prescribed by law, but said valuation
not to exceed a figure five per cent
on which shall represent the net rev
enue per annum produced by the
two properties together at the time
of said valuation, and such indebt-
edness not to be incurred EXCEPT with
the assent Of two-thirds Of the quail.