The log cabin Democrat. [volume] (Conway, Ark.) 1901-1982, 1912-08-15
AMENDMENT NO.I5
IS IMPORTANT
WONT MEAN BANKRUPTCY
ALL PROVISIONS HAVE BEEN
COMPLIED WITH-PUBLISH-
ED IN 225 STATE PAPERS.
(BY CLIO HARPER. }

|
to the people at the September cleo
ton, their debut into the field of di-
rect legislation IN Arkansas, many
consider none of them more import
ant than amendment No. Is, the mu-
Inicipal bond amendment. A vigorous
campaign is being conducted under
the direction of an executive commit
tee consisting of Mayors Chas. L.
Taylor of Little Rock, A. C. Jordan
of Pine Bluff, J. P. Fawcette of Ar
genta, Pagan Bourland of Fort
Smith, w. W. Waters of Hot Springs
and Thomas Burress of Jonesboro.
1t is believed there has been rad
ical change in public opinion since the
defeat of a similar amendment four
wears ago, at which time astute law
Iyers discovered lurking "joker" in
lit, which has been eliminated. The
only legal cloud that now appears on
the horizon of it's expected success is
the opinion of attorney general that
only three proposed amendments can
be submitted at any election, whether
originating in the legislature or with
the people Those who are working
for the amendment do not consider
this objection serious handicap, and
are confident that the people will
adopt the amendment and thereby
give themselves a credit standing the
constitution now denies.
'Do not listen to the croakers who
say that if this amendment is passed
our cities and towns will be bank
rupted,"' says the executive commit
tee in a strong appeal that will be
published in the course of the next
two weeks. at permits them to bor-
row only an amount equal to one
tenth of their assessed value. Did
you ever hear of a man being bank
rupt who owed only one-tenth as
much as his property was worth?
And as our assessments are on a
basis of 30 per cent or less, the
amount a city or town can borrow
will be really only about 8 per cent of
its property value.
Eve need to use our credit in order
to educate and train the rising gener-
alton, and it is very just that part of
this cost shall be paid by those who
are now receiving the benefits.
1--WE need just as urgently to use
our credit to build public improve
ments for our cities and to insure
public health and safety, and it is
just as equitable that this expense
should be met by those who will enjoy
these improved conditions and at a
time when these better conditions
have aided in building up, enlarging
and enriching the city so that even a
greater amount of taxes will be a
smaller pro rata expense"
All provisions of the law have been
complied with and the proposed
amendment have been complied with.
1t was published in every county in
the state, in 225 newspapers, and the
public is thoroughly familiar with it..
lSecretary of State Hodges, friend
of the measure, says he has not OBJ
served a single adverse editorial
comment.
If adopted, the Amendment will not
force an issue of bonds upon any
community; on the contrary, it will
only remove obstacles now in the con-
stituton for bidding citizens who de-
sire to do so the right to bond them
selves. If adopted, the amendment
will give to any city of the first or
second class, or any Incorporated
town over 1000 population, the right
Ito hold an election at which major
Iity Of the qualified electors may de
termine whether they will authorize
the issuance of bonds for any specific
purpose. Such special elections must
not be held under 60 days after the
passage of an ordinance by the city
council ordering it, and due notice
must be given of such elections.
Only public improvements of gen
eral nature for the use and benefit of
the people of the city or town may be
voted for, and it is further provided
that the rate of interest for cities of
the first class shall not exceed five per
cent, and Of the second class not to
exceed six per cent. TO provide for
the payment Of bonds and interest a
special tax not exceeding five mills
may be levied in addition to the taxa
ton now authorized.
All safeguards have been provided
to prevent abuses under the law. No
mayor can saddle an issue of bonds