The Forrest City times., 1912-06-07
FOR AMENDMENT NO Is. AGAINST AMENDMENT NO. Is.

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 Is, Section I.-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- 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 fndebt- eaness. and the State shall never issue any interest bearing treasury warrants or scrip.
 Prov ided. that in cities of the first and second class and in incorporated towns of l000 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 sucb cities. payable to order or bearer in q sum and for the purpose. approved by such majority at such election, may be issued.
 For the funding or refundng of any existing debt of any city of the first or second class or such incorporated towns incurred prior to the adoption of this amendment for the construction of public highways. streets. alleys and boGleVards. 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 pltais. fire stations and equipment via duets 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 It's government. and for the pur- chase. requirement or construction of waterworks, lighting plants and street railways. and for any other public inn proyement 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 pora ton.
 No money raised for a specific pur- pose shall be used for any other or diff ferent purpose.
 than par. and when issuA by cities of the first class shall not bear a greater [aie rer afn 9f infergst ana 'Ran w6s4 f ner Ggns or the second class and sy such tneoE- porated towns. shall not bear greater rate of interest than six e6sal per cent per annum; and in order to provide for tine payment of such bonds and interest special tax, not to exceed five t5J 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 esi== deneeS of indebtedness shall not be is- sued for an amount more than fen tiGca 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 bN ordinance, specifically stating the purpose for which the bonds are to be issued. and if for more than one p1lrpoSp provision shall be made for balI0ting on each separate purpose. the sum total of the issue; the dates of maturity there of, and fixing the date of election sn that II snail not occur earlier than sixty tt9l days after the adoption of said or Glhdnce, Said election shall 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 advert iSements at least four t4l times in some news paper published in said city and having q circulation therein. the last pabliea=# prlor [" said election. only qualified electors in said city shall have the right to vote at sad election.
 Sald votes shall be canvassed by the mayor and board of public affairs of said city, if there be aboard 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 of property. who shall be selected by the county judge of the county in which said city or town is located, and the result of said election, when declared by the maNor and his associates. shall be con elusive
 This amendment shall be in force inn mediately after its aGoption. and shall not require legislative action to put 1t into operation It's adoption Shar be complete when the Board of State Elec- tion Comm sSiouers shall have canvassed the returns and declared II L. have been adopted.
 Al of the provisions of this amend ment shall be treated as mandatory.
 Filed in the office of the Sec
 rctary of State on the 2nd day
 of May. 1912
 Each elector may vote for or against the above amendment
 Witness my official signature.
 this 2eth day of May 1912
 EARLE W HODGES
 Secretary of State,
 ISeall