The Forrest City times., 1912-06-14
FOR AMENDMENT NO. 15. AGAINST AMENDMENT NO. Is.
Be 1t Enacted by the People of tn,

Be it Enacted by the People of the | State of Arkansas.
 That Section One of Article Is to the l Consultation Of the State of Arkansas ! be amended so as to read as follows: | Article l6. Section I-Neither the State. nor any city. county, town. or other municipality in this State shall l ever loan it's credit for any purpose 1 whatever; nor shall any county, city ! town. or municipality ever issue any in- l 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 l eiHesS, and the State shall never issue any interest bearing treasury warrants Provided. that in cities of the first and second class and in incorporated | towns of loco or more population. as 1 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 al 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, al such election, may be issued
 For the funding or refunding of any existing debt of ary 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 boulevards; for the purchase and equip
  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 pltalS, 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 aad economical adminiStra- tion 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 provement 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 poration
 No money raised for a specific pur- 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 the first class shall not bear a greater rate of interest than five t5Gc) per cent per annum, and when issued by cities of the second class and by such incor- porated towns. shall not bear d greater rate of interest than six t6fc) per cent per annum; and in order to provide for the payment of such bonds and interest a special tax, hot to exceed five 65) 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 evil dences Of indebtedness shall not be is- sued for an amount more than ten G0ge1 0 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 a9e to be issued; and if for more than one purpose, provision shall be made for ballotins on each separate purpose. the sum total Of the issue, the dates of maturity there- of. and fixing the date of election so that 1t shall not occur earlier than sixty d ffa.f. | dinanee. 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 advertisements at least four e42 times in some news paper published in said city. and having a circulation therein. the last publica- 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 ba canvassed by the mayor and board of public affairs of said city. if there be d 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 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 mayor and his associates. shall be con elusive
 This amendment shall be in force im- mediatelY after its adoption. and shall not require legislative action to put IL into operation. Its adoption shall be complete when the Board of State Elec- tion Commissioners shall have canvassed the returns and declared it to have been adopted
 Ali of the provisions of this amend ment shall be treated as mandatory.
 Filed in the office of the Sec
 retary of State on the 2nd day
 of May. 1912
 Each elector may vote for or against the above amendment.
 Witness my official signature.
 this goth day of May 1912
 EARLE W. HODGES,