The Van Buren press., 1912-06-08
FOR AMENDMENT NO. Is.
AGAINST AMENDMENT NO. Is.

Be It 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 50 as 10 read as follows.
Article g, 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
tercst bearing evidences Of Indebtedness,
except such bonds as may be authorized
by law to provide for and secure the
payment of the present existing lndebt-
eiucss, 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 witlHn
the corporate limits thereof, voting
thereon at an election held for that pur-
pose, negotiable coupon bonds for such
cities. payable TO order or bearer, In
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
boulcyards, for the purchase and equip
mcnt Of parks and Fairgrounds, either
inside or outside OF the city limits, for
the construction OF drainage or sanitary
sewers, for the purchase and cunstruc-
ton Of city halls prisons, libraries, hos
pitfalls, fire stations and equipment Via
ducts and bridges, ana for any and all
public buildings, structures, or grounds
that may be required by said city for
the proper and economical adminstra.
ton Of its government, ana for the pur-
chase, requirement or construction Of
watorworks, Lighting plants and street
railways, and for any other public Inn
prOycment of "A general nature for the
use and benefit OF said city except to
aid In the construction Of railroads or
enterprises operated by any private cor
pOratlOn.
No money raised for spe4fic pur-
pose shall be used for any other or dif-
fereuS purpose.
Such bonds shall never be sold at less
than par, ana when issued 10y cities Of
the first class shall not bear "A greater
rate OF interest than five t5r,D per cent
per annum, and when issued by cities
OF the second class ana by such iucur-
porutcd towns. shall not bear a greater
rate Of interest than six (GE) per cent
per Huuumi ana In order TO provide FOR
the payment OF such bonds and interest
a special tax, not To- exceed five 90 mills
ON the dollar in addition 10 the rate OF
taxation now authorized may be levied
by said Clty ON the taxable property
therein, provided, that bonds or evil
dcUccs Of indebtedness shah not hc is-
sued for an amount more than ten ilO.rl
per cent Of the assessed valuation Of all
real ana personal property In the city
or town proposing 10 Issue sulnu
Said election shall Doe held nc such
time Az the city council may designate
by ordinance, specifically stating the
purpose for which the bonds are 10 be
Issued and n for more than one purpose,
provision shall DE made for halIutuE on
ouCh separate purpose the sum total
Of tho lNsuul the dates Of maturity tNuuCz
or ana fixing the date of election so
that II shall not occur earlier than sixty
600 days after the adoption Of said or
dlnuuco said election shall be- held at
the same precincts ana Win Judges
uUd clerks uN other CltN elections are
held, ana under the general election laws,
except uH herein provided. Notice OF
mayor, shall bo given boy advertisements
Mt lpuHt four a. times In Humu UoWHa
paper published IN said city and having
n circulation therein the last puhlluua
ton to be- not less than thirty t)OJ days
prior 10 said election only qualified
electors IN rui1 city shah have the right
10 vote at said election
Said votes shah be ouuynsscd by the
mayor and board Of public affairs OF
said city II there ho a board Of public
affairs n there be- no board Of public
affairs the ennynss shall be made by
the mayor ana by three qualified cleo
| tors W said city who are owners OF
! property, who shall hp selected by the
| county Judge ~ the county IN which said
! city or town is located ana the result
! Of said election when declared hy the
| mayor ana his associates, shall be- COM
! elusive
THIS amendment shall bc IN force I'm.
modlatoly after lts adoption, ana shall
| not require legislative action to put IL
into operation lts adoption shall be-
| complete whom the Hoard " state Eepz
| ton Commissioners shall have pnnyHshed
| the returns and declared II to have been
| adopted
All Of the provisions " this amend.
! mont shall ho treated NJ mandatory
Filed IN the office Of the Roes
fptaIy OF ktbto 90 thu sud Geo.
OF May 1919
Each ulpetuf may vote for or against
| The above amendment
| witness my official signature,
this a0th day uf May iHl'.
EARLE W HODGES
tseal Secretary % state