The Van Buren press., 1912-07-06
FOR AMENDMENT NO. Is.
AGAINST AMENDMENT NO. Is.


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 lG, 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
tcrcst bearing evidences of Indebtedness,
except such bonds as may be authorized
by law 10 provide for and secure the
payment Of the present existing lndebt-
elness, and the State shall meyer 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, boy and with the consent of a
majority of the qualified electors within
the corporate limits thereof. voting
thereon az an election held for that pur-
pose, negotiable coupon bonds for suoh
cities, payable 10 order or bearer, In a
sum and for the purpose, approved by
such majority at such election, may be
ISSUED
For the funding or refundug Of any
existing debt of any city OF the first or
second class or such Incorporated towns
incurred prior 10 the adoption Of this
amendment, for the construction Of
public highways streets, alleys and
boulovards for the purchase ana equip
mcnt of parks and Fairgrounds. either
inside or outside of the city limits, for
the construction OF drainage or sanitary
sewers for the purchase and coustruc-
tlou Of city halls, prisons. Libraries, hos
pitals, fire stations and equipment yIa-
ducts and bridges ana for amy and all
public buildings, structures or grounds
that may be required by said city for
the proper and economical almiuistra.
| ton OF us government, ana FOR No pur.
! chase, requirement or construction Of
! wHtorWOtks, lighting plants and street
| railways. and for any other public Inn
! prOycmcnt Of "a general nature for the
/ use and benefit Of said city except 60
| aid I'm the construction Of railroads or
! enterprises operated by any private cor.
| poration.
No money raised for a spe4rc pur-
! pose shall be used for any other or dif-
| ferenf purpose.
Such bonds shall never be sold nj less
| than par and when issued by cities Of
/ the first class shall not bear "a greater
/ rate OF interest than five tnrlD per cent
| per aunum, and when issued by cities
| Of the second class ana by such uoor-
/ porltcd towns shall not bear q greater
/ rate or interest lnuu siS tbUlD per cent
| per annum ana I'm order 10 provide for
| the payment of such bonds and interest
| a special tax, not To exceed five t5l mills
| ON the dollar iu addition 10 the rate of
/ taxation now authorized. may hu levied
/ hy said city ON the taxable property
| therein; provided. unt bonds or cvi-
| duucos " indebtedness shall not ho Is-
| sued for am amount moro than ten OOgD
per cent uf the uHErHuud valuation of nll
/ real and personal property Nm tho city
| or town proposing tO issue same
Sold election shall hu held no such
/ time us the city council may designate
| by ordinance specifically stating the
/ purpose for which the bonds ARE tn be-
| Issued and n for moro than one purpose,
/ provision shall De made for hlIuUug uu
| ourn separate purpose, the wm total
/ of the Issue The dates NJ maturity NrTos
| uf uud UNuE the date of election su
/ that II shall not occur earlier than sixty
! lbOI days after the adoption of uuI ar
! dlunurr said election shall hp npll ut
! The, same precincts and WITH mlgo8
| nnd, 'IrtNa 9s ulhrr rllN, elections uru
/ held. ana uudor the general election laws.
/ except uH hulcu provided NOlur uf
! such election, under the hand ot tho
] mayor shall DO given ly advertisements
! AZ least -four tl times lu pOmo uoWaa
/ paper published lu said city and having
| u circulation therein the Inst uublpas
| tiou 90 hc not less than thirty 8ul dulg
| prior TO Auld election. only qualified
| electors In Eull city shall have the ught
| 20 vote nj said election
Said votes rh0ll ho cpuynaaud hy tho
| mayor ana board ot public affairs uf
| tuId city II there ho "a board uf public
affairs II there ho mo- board of public
| affairs the ouuyhHB shall be- mUdo l.,
| tors OF said city who are owners of
| property who shall be selected hy the
| county judge ~ the county I'm which said
! city or town iH located, ana the result
| of said election when declared by tho
mayor ana HIS associates, shall be- con.
! elusive
Thia amendment shall be ln force i'm.
! mediAtely after ~ adoption Rud hhhll
not require legislative action to nut ID
into operation lls adoption shall lac
complete when the nohrd of State Elrr4
| tlon Commissioners shall have uuhvhHaoi
the returns ana declared II 90 have been
| adopted
An " the provisions ~ this amend.
mont shall be treated ~ mandatory.
Filed IN the office ut the Sees
retArN ot State ON the 9ud tav
OF May lni2
| Each plcelut may vote for or Hghtbei
The above amendment
Witness my official signature
this 2Oth day Of May lptH
| EARLE W HODGES
tseall Secretary OF State