The Van Buren press., 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 l6, 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-
eduess 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
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 a
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
incurred prior TO the adoption OF this
amendment for the construction Of
public highways, streets, alleys and
bouevards, 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 cOnstruc-
tion OF city halls prisons, libraries, hos
pitals, fire stations and equipment, Via
ducts and bridges, ana for any and all
public buildings, structures, or grounds
that may be required by said city for
the proper and economical adminlstra'
tlon Of It's government ana for thc pur-
chase, requirement or construction Of
watcrworks lighting plants and street
railways, ana for any other public Inn
provement OF general nature for the
use and benefit OF said city except 70
aid In the construction Of railroads or
enterprises operated by any private cor
poratlon,
No money raised for a speqIflc pur-
pose shall be used for any other or dif-
feron@ purpose,
such bonds shall never be sold at less
than par and when Issued by cities OF
the first class shall not bear u greater
rate Of interest than five t5't) per cent
per annum, and when issued by cities
OF the second class ana by such incor-
poNtcd towns, shall not bear u greater
rate Of interest than slX tGnal per cent
per nunum, gud In ufdCr 10 provide for
the payment of such bonds ana interest
a special tax, not tO exceed five 90 mills
ON the dollar I'm addition TO the rate OF
taxation now authorized. may be levied
by said city on the taxable property
therein, provided, that bonds or evil
dcnccs OF Indebtedness shall not be Is
sued for an amount moro than ten tO'gl
per cent OF tho assessed valuation Of all
real and personal property I'm the city
or town proposing To- issue same
Said election shall bo held ut such
time Aa the city council may designate
by ordnance. specifically stating the
purpose for which the bonds are to be-
Issued and n for moro than one purpose.
provision shall be made for bHllOtlng on
each separate purpose the sum total
Of tho issue, the dates Of maturity there.
Of ana fixing the date Of election so
that II shall not occur earlier than sixty
600 days after the adoption Of said or
dnunco. said election shall be- hol1 ut
and clerks ug other city elections are
held, ana under the general election laws,
except uN herein provided Notice OF
such election under the hand Of the
mayor shall ho given hy advertisements
NJ least Four 90 times In some news
paper published ln Huid city ana having
n circulation therein. the last publipaa
tiou 90 bo not less than thirty l3OD days
prior 90 said election only qualified
electors IN said city shall have the right
~ vote nt said election
said yutcH shall bu cauyupHcd hy the
mayor ana board " plhllC affairs ~
tnld city, " thoIe ho n board ul public
affairs, u there ho NO hoard of public
the mayor ana by three qualified plptz
tors of said city who ere owners Of
property, who shall be selected by the
county Judge Of the county I'm which said
city or town IN located, ana the result
Of said election, when declared hy the
mayor nnd his associates, shall be con.
elusive
This amendment shall bo In force i'm.
modiatoly after ~ adoption, ana shall
not require legislative action 90 put it
into operation Its adoption shall be-
complete when the Hoard of state iilpcs
tlon commissioners shall have canvaAHo1
the returns ANA declared II 10 have been
adopted
An OF the provisions " this amend
ment shall he treated nh mandatory
FILED IN the office of the Rees
uHihry OF 9,ato ON the end day
OF May. 1919
Each elpttur may vote for or against
The above amendment
Witness my official signntHe,
this gOth day uf May iNi9
EARLE W HODGES
Iheal Secretary uf AtAta