The Brinkley argus., 1912-05-31
FOR AMENDMENT MO. IS. AGAINST A1GENDNENT 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
 Article 16, Section l.-Netther the State, nor any city, county. town, or other municipality in this State shall whatever; no4. siIall any county, city. town, or municipality ever issue any 1n- terest bearing evidences of indebtedness, except such bonds as may be authorized by law to provide fof -nfa secure tho payment of the present existing indebt- edness, and the State shall never issue any interest bearing treasury warrants 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 thereof, voting pose, negotiable coupon bonds for such cities payable to order or bearer in a sum and for the purpose, approved by such majority. at such election. may be
 For the funding or refunding of any existing debt of any city or the first or second class or such incorporated towns amendment: for the construction of public highways. streets. alleys and boulevards; for the purchase and equip inside or outside of the city limits; for 1 the construction of drainage or sanitary sewers; for the purchase and construc- l tion of city halls, prisons, libraries, hos- pitals, fire stations and equipment. via l ducts and bridges. and for any and all l public buildings, structures, or grounds that may be required py said city for | tion of its government: and for the pur- chase requirement or construction Of waterworks. lighting plants and street | oi1xxrax nd frp an nj hal in ivv1- provement 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 1 poration.
 l No money raised for a specific pur- l pose shall be used for any other or diff 1 ferent purpose.
 Such bonds shall never be sold at less l than par, and when issued by cities of l the first class shall not bear a greater rate of interest than five (5qs) per cent ] of the second class and by such incor- l porated towns, shall not bear a greater rate of interest than six (6so) per cent l per annum; and in order to provide for l the payment of such bonds and interest special tax not to exceed five (6) mills 1 on the dollar, in addition to the rate of l by said city on the taxable property therein; provided, that bonds or evil dences of indebtedness shall not be is- sued for an amount more than ten Q04al | per cent of the assessed valuation of all l 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 l by ordinance, specifically stating the purpose for which the bonds are to be issued; and if for more than one purpose. provision shall be made for balloting on each separate purpose; the sum total of the issue the dates of maturity there that 1t shall not @ occur @ earlier than ' sixty t l (60) days after the adoption of said or. dinance, Said election shall be held al
 ns sss. as Ossss cS anS @ held, and under the general election laws
 except as herein provided. Notice ol
 such election. under the hand of the
 paper pubiiShed in said city, and and having sxu
 .. circulation therein. the last publica.
 ton to be not less than thirty (30) days
 prior to. said election. Only qualified
 electors In said city shall have the right
 mayor. and board of public affairs oi
 said city. If there be board of public
 affairs. If there be no board of public the mayor and by three qualified cleo.
 tors of said city who are owners oi
 property. who shall be selected by thu
 city or town is located; and nd the m resuii iS of eaid election. when declared by thu
 mayor and his associated, shall De con
 This amendment shall be in force i'm.
 mediately after its adoption, and shai
 not require legislative action to put 1,
 into operation. It's adoption shall b<
 tion Commissioners shan have canvasset
 the returns and declared 1t to have beer
 Ali of the provisions of this amend ment shall be treated as mandatory.
 Filed in the office of the Sec
 retRry of State on the End day of May. 1912
 Each eiector may vote for or agains the above amendment
 Witnesn my official aienature