The Prescott daily news., 1912-08-31
AMENDMENT NO. I5 TO
 BE VOTED ON SEPT. 9
Measure, if Adopted, Will Give Cities and Towns the Right to
 Issue Bonds.

The IOliOW1uS IS the text O1 Amend ment No. 15, giving cities and incor- porated towns of more than 1000 popu. lation, the right to issue bonds for public improvements, which will be submitted at the general election on September g:
 Be it Enacted by the People of the State of Arkansas
 That Section One of Article Is to the Constitution of the State of Arkansas be amended so as to read as follows:
 Article 16. Section I.-Neither the State. nor any city, county. town, or other municipality in this State shall ever loan its credit for any purpose 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 edness. and the State shall never issue any interest bearing treasury warrants or scrip.
 Provided. that in cities of the first towns of 1000 or more population, as shown by the next preceding Federal census by and with the consent of a 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 d 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 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 playgrounds, either o iY1aif ifs. the construction of drainage or sanitary sewers; for the purchase and construc- tion 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- tion 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.
 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 rate of interest than five t5gp) 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 (6%) 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 evf- dences of indebtedness shall not be is- sued for an amount more than ten (10%) of a nf al 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 of the issue; the dates of maturity there of and fixing the date of election so that it shall not occur earlier than sixty (60) days after the adoption of said or dinance, Said election shall be held al 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 mayor. shall be given by advertisements at least four t4) times in some news paper published in said city, and having tion to be not less than thirty (30) 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 oi said city, if there be 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 ol property. who shall be selected by the county judge of the county in which saic city or town is located; and the result of said election, when declared by tho mayor and his associates, shall be con elusive
 This amendment shall be in force i'm mediately after its adoption, and shal not require legislative action to put Il into operation It's adoption shall bt complete when the Board of State Flee ton Commissioners shall have canvasseo the returns and declared it to have beer