The Harrison times., 1912-07-06
FOR AMENDMENT NO Is.
AGAINST AMENDMENT NO. Is.

Be it. Enacted by the People OF the
| State Of Arkansas:
! That Section One of Article 16 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 it's 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
J 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
majority Of the qualified electors within
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 and for the purpose, approved by
such majority, at such election, may be
| issued:
For the funding or refundng Of any
| existing debt of any city Of the first or
second class or such incorporated towns
incurred prior to the adoption Of this
/
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
pitfalls, 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 Its government; and for the pur-
chase, acquirement or construction OF
waterworks, lighting plants and street
railways and for any other public i'm
provement Of n general nature for the
use and benefit of said city, except 70
aid In the construction of railroads or
enterprises operated by any private cor
poration.
pose shall be used for any other or diff
ferent purpose,
Such bonds shall never be sold at less
than par, and when issued by cities or
the first class shall not bear a greater
rate OF interest than five $50 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 (62o) per cent
per annum; and In order 20 provide for
the payment Of such bonds and interest
II special tax, not to exceed five (5) mills
on the dollar, In addition TO the rate OF
taxation now authorized, may be levied
by said city on tho taxable property
therein; provided, that bonds or evil
dences Of indebtedness shall not be is
sued for an amount more than ten NO%l
per cent OF the assessed valuation OF all
real and personal property In the city
or town proposing TO Issue same,
Said election shall be held at such
time as the city council may designate
by ordinance, specifically stating tho
purpose for which the bonds are to bo
issued; and II for more than one purpose
provision shall be made for b0lloting on
each separate purposo; the sum total
of the ssuei the dates OF maturity thoro-
! OF, and fixing the date OF election 30
that II shall not occur earlier than sixty
! (60) days Nftor the adoption OF said or.
the same precincts, and with judges
and clerks as other city elections arc
held and under the general election laws,
| except NJ herein provided. Notice OF
| such election, under tho hand or tho
mayor, shall be given by advertisements
at lcnst four 90 times In somo news
! paper published IN said city, and having
u circulation therein, the last publlca-
| tIon TO be not less than thirty t3O) days
! prior 70 said election, only qualified
electors IN said city shall have tho right
to vote at said election,
Said votes shall bo canyossed by tho
mayor and board OF public affalra or
said city, IL there be Il board OF public
/
affairs, the canvass shall be made by
| the mayor and by three qualified olee.
! tors Of said city who are owners or
property, who shall be selected by the
! county judge OF the county IN which said
! city or town is locHtod and the result
! of said election, when declared by tho
mayor ana his associates shall be con-
| elusive
This amendment shall bo in force i'm;
modlRtoly after It's adoption, ana shall
not require Legislative action to put Il
! into operation. It's adoption shall be
complete when the board Of state llleos
! ton Commissioners shall have ebnyABsed
! the returns ana declared II to have been
adopted
An Of the provisions OF this Amond-
mont shnl bo troUtod M mandatory
Filed I'm tho office OF the Soc
rotary OF State on tho End day
Of May, 1912,
Each oleetor may vote for or against
| tho above amendment
Witnoaa my official signature,
this goth day Of May lNl2
EARLE W HODGES
Secretary OF stats