The Huttig news., 1912-08-31
AMENDMENT NO. IS TO
BE VOTED ON SEPT. 9
Measure. if Adopted. viii Give Cities
and Towns the Right to
Issue Bonds.

The following IS the text of Amend
ment No. Is. giving cities and incor.
porated towns Of more than Loco ponu=
lation. the right to issue bonds for
public improvements. which viii be
submitted at the general election on
September .:
Be il Enacted by the People Of the
State OF Arkansas.
That SecIlOn one of Article Is to the
Constitution OF the State of Arkansas
pc amended 50 as to read as follows:
Article Is. Section Neither the
State. nor any city, county, town, OF
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
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 indeot-
] edness, and the State shall never issue
any interest bearing treasury warrants
or scrip.
Provided. that in cities of sthe 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 qua1ifted electors within
the corporate limits thereof voting
thereon al an election held for that pur-
pose, negotiable coupon bonds for such
cities payahle TO Ofdef or bearer, In a
sum and for the purpose. approved by
such majority, al such election, may be
issued:
For the funding or refunding of any
existing debt of any city of the first OF
second class or such incorporated towns
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 Fairgrounds. 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-
ton of its government; and for the pur
chase. requirement or construction of
waterworks. lighting plants and street
railways; and for any other public i'm
provement of 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
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 t59o) per cent
per annum. and when issued by cities
of the second class and by such incor-
pOlateu IOWnS, snail not pear a greater
rate of interest than six go per cent
per annum; and in order to provide for
the payment of such bonds and interest
a special tax not to exceed five t5) mills
taxation now authorized. may be levied
| by said city on the taxable property
| therein; provided, that bonds or evil
denees of Indebtedness shall not be is
sued for an amount more than ten (0eol
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 ballotng on
/ each separate purpose. the sum total
of the issue, the dates of maturity there
| of, and fixing the date of election so
| that ii shall not occur earlier than sixty
| 500 days after the adoption of said or
/ dinanee Said election shalt 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
i at least four (4) times in some news
+ paper published in said city. and having
i a circulation therein. the last publica-
f ton TO be not less than thirty (S0) DAYS
/ prior to said election. Only qualified
/ electors in said city shall have the right
/ to vote at said election.
Said votes shall be canvassed by the
mayor and board of public affairs of
t said city If there he a board of public
affairs If there be no board of public
/ affairs the canvass shall he made by
+ the mayor and by three qualified cleo
/ tors of said city who are owners of
property. who shall be selected by the
I 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 i'm
mediately after its adoption and shall
/ not require legislative action to put ii
/ into operation Its adoption shall be
complete when the Board Of State Flee
/ ton Commissioners shall have canva sse
/ the returns and declared il to have been
/ adopted.
All OF the provisions of this amend
ment shall be treated as mandatory.