The Harrison times., 1912-06-15
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 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-
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
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 refundlng Of any
existing debt of any city OF 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
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, vla-
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 It's 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 a general nature for the
use and benefit Of said city, except 70
aid In the construction OF railroads or
enterprises operated by any private corr
pOration,
No money raised for 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 (52o) per cent
per annum, and when issued by cities
OF the second class ana by such inCOr-
porated towns shall not bear greater
rate OF interest than six (6go) per cent
per annum, and In order TO provide for
the payment Of such bonds and interest
n 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 the taxable property
therein, provided, that bonds or cVi-
dcnccs Of indebtedness shall not be is
sued for an amount moro than ten llO@l
per cent Of tho assessed valuation Of all
real and personal property In the city
or town proposing TO Issue same
Said election shall be held ne such
time as the city council may designate
by ordnance, specifically stating tho
purpose for which tho bonds are TO bo
issued and II for more than ono purpose,
provision shall be made for balloting on
ouch separate purpose the sum total
az the Issue tho dates or maturity thor0.
Of and fixing the date OF election 10
that II shall not occur earlier than sixty
600 days after the adoption OF said or
dlnancc, Said election shall he held at
the samo precincts, and with judges
and clerks az other city elections arc
hold, and under the general election laws
except NJ herein provided Notice OF
such election, under the hand OF tho
mayor shall be given by advertisements
at least four 90 times In some nowsH
paper published IN said city and having
u circulation therein, tho last publleH'
tion 10 bo not less than thirty 500 days
prior 90 said election only qualified
electors IN SAID city shall have tho right
10 vote at said election
said votes shall be o0nyaeSod by tho
mayor and bonrd OF public affairs or
said city, If there he 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 cleo.
tors Of said city who are owners or
property, who shall be solicited by the
county Judge Of The county In which said
city or town ia looatodi ana the result
or snld election, whom declared by tho
mayor ana HIS associates, shall be con-
elusive
This amendment shall he IN force ims
mpdiutoly after itF adoption ANA shall
not require legislative action 60 put Il
into operation IT, adoption shall ho
complete when the Board Of state Elocs
tlon Commissioners ehuil have rnnvnsHod
tho roturuB ana declared II 70 have boon
adopted
All Of tho provisions Of ths 0mends
mcut shall ho treated ua mandatory
Filled in the OFFICE Of The ao0z
rotary Of Slnto on the End day
uf May 1919.
Each ploutur may vote for or against
the above amendment
Witness my official signature,
this goth day of May lnla
EARLE W. HODGES
Secretary OF Stata
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