The Harrison times., 1912-06-01
FOR AMENDMENT NO. IS.
AGAINST AMENDMENT NO. Is.

BE 1t Enacted by the People Of the
State Of Arkansas:
That Section one of Article l6 TO the
Constitution of the State Of Arkansas
be amended so as to read as follows:
Article 16, Section Neither the
State, nor any city, county, town, or
other municipality in this State shall
ever loan its credit for any purpose
whatever; nor shall any county city,
town, or municipality ever issue any in
terest bearing evidences Of indebtedness,
except such bonds as may be authorized
by law to provide for and secure the
payment OF the present existing indebt-
edness, and the State shall never Issue
any interest bearing treasury warrants
or scrip.
Provided, that in cities OF the first
and second class and in Incorporated
towns Of 1000 or more population, as
shown by the next preceding Federal
census by and with the consent Of a
majority Of the qualified electors within
the corporate limits thereon. voting
thereon at an election held for that pur-
pose, negotiable coupon bonds for such
cities, payable to order or bearer, In a
sum ana for the purpose, approved by
such majority, at such election, may be
issued
For the funding or refundIng OF any
existing debt Of any city of the first or
second class or such incorporated towns
incurred prior TO the adoption Of this
amendment; for the construction OF
public highways, streets, alleys and
boulevardS, for the purchase and equip
ment Of parks and Fairgrounds, either
inside or outside OF the city limits; for
the construction Of drainage or sanitary
sewers; for the purchase and construc-
tion OF city halls, prisons Libraries, hos
pitals fire stations and equipment Via
ducts and bridges. and for any and all
public buildings, structures, or grounds
that may be required by said city for
the proper and economical adminlstra-
tIon Of It's government; and for the pur-
chase, requirement or construction OF
watcrworks, lighting plants and street
railways; and for any other public I'm
proyement of general nature for the
use and benefit OF said city, except to
aid In the construction OF railroads or
operated by any private cor"
No money raised for a specific pur-
pose shall be used for any other or DIFF
ferent purpose
such bonds shall never bo sold at less
than par, and when issued by cities OF
tho first class shall not bear greater
rate Of interest than five (b&o) per cent
per annum, and when issued by cities
Of the second class and by such incor-
porated towns, shall not bear q greater
rate Of interest than six (6%o) per cent
per annum; and In order 60 provide for
the payment Of such bonds and interest
a special tax, not to exceed five (5) mills
on the dollar, In addition to the rate or
taxation now authorized may be levied
by said city on tho taxable property
therein, provided, that bonds or evil
lcnccs Of indebtedness shall not be lS-
sued for an amount more than ten (lO16)
per cent OF tho assessed valuation or all
real and personal property In tho city
or town proposing to issue same
Sal Il, Ian, tIi,A LA, at
time as the city council may designate
by ordinance, specifically stating tho
purpose for which tho bonds are to DO
Issued and II for more than one purpose,
provision shall be made for balloting on
each separate purpose, the sum total
Of tho Issue; tho dates OF maturity there.
Of and fixing the date Of election 80
that II shall not occur earlier than sixty
(60) days after the adoption of said or
linancc, said election shall be held az
the samo precincts, and with judges
and clerks as other city elections arc
held, ana under the general election laws
except M herein provided Notice OF
such election, under the hand OF tho
mayor shall be given by advertisements
ne least four GD times In some noWs'
paper published IN said city, and having
Il circulation therein the last publlca-
ton TO be not less than thirty 900 days
prior 10 said election only qualified
electors In said city shall have the right
to vote at said election,
Said votes shall be canyaSSed by the
mayor and board OF public affairs OF
said city If thoro be board Of public
affairs If there be no board OF public
affairs tho canvass shall be made by
the mayor and by three qualified cleo.
tors Of said city who are owners or
who shall bo selected by the
county judge Of the county In which said
city or town IL located, ana the result
Of said election, whom declared by tho
mayor ana his associates, shall be con-
elusive
This amendment shall DO IN forcc i'm.
after It's adoption, and shall
not require Legislative action TO put Il
into operation It's adoption shall DO
when the BOARD Of state Elces
tion Commissioners shall have ennVoseod
the returns aud declared IL TO have been
adopted,
An Of tho provisions OF this Amchds
munt shall bo treated us mandatory
FILED I'm the office OF the Soo-
rotary OF state on the 2nd day
Of May 1919.
Each Clootor may vote for or against
the above amendment,
Witness my official signature,
this goth day OF May, 1919,
EARLE W. HODGES,
Secretary OF stats,
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