The Harrison times., 1912-06-08
FOR AMENDMENT NO. IS.
AGAINST AMENDMENT NO. Is.

Be it Enacted by the People of the
State Of Arkansas:
Constitution of the State of Arkansas
be amended so as to read as follows
Article l6, Section Neither the
State, nor any city county, town or
other municipality in this state shall
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 10 provide for and secure the
payment Of the present existing indebt-
eiuess, 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 900 or more population, as
shown by the next preceding Federal
census, by and with the consent of n
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 retundmg OF any
existing debt of any city OF the first or
second class or such Incorporated towns
incurred prior 70 the adoption of this
amendment. for the construction OF
public highways, streets, alleys and
bouleyards; for the purchase and equip
mont 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-
ton OF city halls, prisons, Libraries, hos
pitalS. 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-
uOn 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
proyement 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
30. money raised for a specific pur-
pose Shall be used for any other or diff
terCnt purpose,
such bonds shall never be sold at less
than par, and when Issued by cities or
the first class shall not bear n greater
rate Of interest than five (5fe) per cent
per annum, and when issued by cities
Of the second class ana by such incor-
poratcd towns, shall not bear greater
rate Of interest than six (GPo) per cent
per annum; and In order TO provide for
the payment Of such bonds and interest
a 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 CYL
dcnccs Of indebtedness shall not be IS.
sued for an amount more than ten (lO%)
per cent Of the assessed valuation OF all
real and personal property In the city
or town proposing 20 issue same,
Said election shall be held at such
time aa the city council may designate
purpose for which the bonds are to DO
issued and II for moro than one purpose
provision shall be made for balloting on
each separate purpose, the sum total
OF the iSsuci the dates OF maturity thCr0-
Of ana fixing the date Of election 80
that IL shall not occur earlier than sixty
600 days after the adoption Of said Or
dinanco Said election shall be held at
tho snmo precincts, and with judges
ana clerks as other city elections are
hold, and undcr the general election laws,
except us herein provided, Notice uf
such election, under the hand OF tho
mayor shall be given by Advertisements
Ot least four ti times In some news
n circulation therein the last publicaa
tion 20 be not loss than thirty (30) days
prior TO said election only qualified
electors I'm said city shall have the right
to- vote at said election,
Said votes shall be cany0ssed by the
said city If there be q board OF public
affairs. IT there be no board OF public
affairs, tho canvass shall be made by
tho mayor and by three qualified cleo.
tors OF said city who arc owners OF
property who shall DO selected by tho
county ludgo Of the county IN which said
city or town n locutedi and the result
Of said election, whom declared by tho
mayor ana his associates, shall be con-
elusive
This amendment shall be I'm force i'm.
modIatolv after its adoption nud shall
not require Legislative action to put II
into operation, lts adoption shall ho
complete when the Board Of state Eloc-
tlon Commissioners Hhuil have cDnvUaaol
tho returns ana declared IL to have 6oen
adopted
An Of tho provisions OF thia amends
mont shall he treated Hs mandatory
Filled IN the office of the Secs
rolnrv Of State ON tho end day
Of May 1919.
Each olcrlor may vote for or against
the above amendment
Witness my official signature,
this goth day OF May 1919,
EARLE W. HODGES,
Secretary or stats.
tSo0ll