The Prescott daily news., 1912-05-31
FOR AMENDMENT NO. Is. AGAINST AMENDMENT NO. 15.


 Constitution of the State of Arkansas be amended so as to read as follows:
 Article 16. Section 1.-Neither the State, nor any city, county: town. a,s,, or 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- 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 a sum and 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 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 playgrounds either inside or outside of the city limits: for the construction of drainage or sanitary sewers; for the purchase and construc- ton 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 administra- tlon of its government: and for the pur- chase, requirement or construction of waterworks, lighting plants and street railways, and for any other public inn 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 poration.
 No money raised for a specific pur- 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 of the first class shall not bear greater rate of interest than five t5eo) per cent per annum, and when issued by cities Of the second class and by such incor- porated towns, shall not bear a greater rate of interest than six (6fe) per cent per annum; and in order to provide for the payment of such bonds and interest special tax, not to exceed five (5) mills on the dollar. in addition to the rate of 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 Uoqe) 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 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 or the issue; the dates of maturity there- of, and fixing the date of election so that It shall not occur earlier than sixty l6O) days after the adoption of said or dlnance. Said election shall be held at the same precincts. and with judges and clerks as other city elections are held, and under the general election laws, except as herein provided. Notice of such election, under the hand of the mayor. shall be given by advertisements paper published in said city. and having a circulation therein. the last publica- ton to be not less than thirty (30) days prlor to said election. Only qualified to vote at said election
 Said votes shall be canvassed by tho mayor and board of public affairs of said city, if there be a board of public affairs. If there be no board of public affairs the canvass shall be made by the mayor and by three qualified elec- property. who shall be selected by the county judge of the county in which said city or town is located: and the result of said election when declared by the mayor and his associates, shall be con elusive
 This amendment shall be in force inn mediately after its adoption, and shall not require legislative action to put it into operation. It's adoption shall be complete when the Board of State Elec- ton Commissioners shall have canvassed the returns and declared it to have been adopted.
 All of the provisions of this amend ment shall be treated as mandatory
 Filed in the office of the Sec
 retary Of State on the End day
 of May. 1912
 Each elector may vote for or arainst the above amendment
 Witness my official signature.
 this goth day of May, 1912
 EARLE w. HODGES
 Secretary of Stata