Pocahontas star herald., 1914-08-14
BOND AMENDMENT
IS CONSTRUCTIVE
PROPOSED MEASURE HAS RE-
ceiNGp THE APPROVAL OF
THE PEOPLE AT POLLS.
AID TO ARKANSAS PROGRESS
amendment Ne. II Is New Measure.
and Alleged Defects Of 1912
Measure are Eliminated.
tby Executive Committee Greater Ar.
kansas Associaton.l

Kansas Associaton.l
Amendment No. II. the fond
Amendment, Is a progressive, conatrue-
tive measure that II adopted, hs nov
seems almost a certainty. will give u
greater impetus 10 Arkansas progress
than 1t has ever known.
II was initiated by the people and
will be one Of the three proposed
amendments submitted TO the uoupio
at the election In September For six
weeks It's text has been printed IN the
newspapers OF Arkansas, and by this
time everyone OF the states lb00 coo
voters should be thoroughly familiar
with It's terms and provisions.
IL is not a new proposition, for twice
before have the people expressed
themselves upon II. and two years ago
n similar measure was carried BY n
majority OF $4,000 OF the votes cast
upon the subject, but IL was declared
imperative because the Supreme Court
held only three amendments could be
submitted at one time. and this WIS
the NTH. In the present instance.
Amendment No. "A was the fret sub
mitted IN point OF time
Amendment No. i4 has been most
carefully drawn after taking counsel
with some OF the states strongest le-
sal minds, and alleged defects OF pre-
yious measures have been eliminated,
making Il a stronger and more de
EirHble law. The restrictions have been
more severe and stronger safe guards
have been thrown about n. 50 that IL
must appeal 10 the people for lie fair
ness and justice.
The proposed amendment does not
vote bonds upon any eommunity-it
merely removes the constitutional in
hibition against the issuance OF inter
est-bearing evidences OF Indebtedness
II will permit the people In cities and
Incorporated towns exceeding 600
population TO vote on the question OF
the issuance OF bonds for certain speci-
fled public Improvements Of a general
character.
These special elections are hedged
about by safeguards that provide the
fullest possible publicity for the pro
jected bond issue and the purposes for
which II is 10 be used No boards OF
aldermen or any individual or body o.
men can vote a bond issue upon a
community. for in this the people are
supreme. The city councils are re-
quired TO call the special elections, 20
be held not earlier than so days after
the passage OF the ordinance, and even
after the declaration Of the election
returns any citizen shall have the right
OF protest In the courts for 60 days
before the issue becomes effective.
The people OF cities and towns have
a right to demand public conveniences
and utilities, but an unjust restriction
is placed upon them when the organic
law OF the state denies them the power
TO provide these things under approved
business methods. The present sys-
TEN Of shortterm accommodations at
high rates Of interest, and OF improve
ment districts. is not good business.
II is provided that bonds issued by
cities OF the first class shall not bear
greater than per cent Interest, and
when issued by cities of the second
class and Incorporated towns The rate
shall not exceed 6 per cent Il is a
well-known fact that under the pre-
vailing system, cities must pay per-
cent and frequently 10 for short term
loans, OF else adopt the non-pTogres-
sive policy Of making none Of the i'm
provements the people demand. Thus
il appears that II is not only good
business, but actual economy to pro
vide for loans at a low rate OF interest.
Il is further provided that the princi.
pal and all interest on the bonds shah
be paid within 30 years from the time
of issuance, and a special tax not 10
exceed seven mills be levied on all
taxable property to provide a fund
for the retirement ef the serial bonds
as rapidly as the funds accumulate
BY this means. the bonded indebted
ness of a municipality will gradually
De cut uOWus lHHttoN VI oN'o"Aa"b
greater year after yeur.
No section of the proposed amend
ment is more carefully drawn than
that section which lists the purposes
for which bonds may be issued, when
authorized by the people at an elec-
tion held for that purpose, as follows
towit: For the funding or refund
ing Of any existing indebtedness IN
CURED prior to the adoption Of this
amendment; for the requirement, con-
struction or maintenance Of public
highways, streets, alleys, or bou.c
wards: for the purchase Of equipment
or parks, or Fairgrounds; for the con.
struction Of city or town halls, aHaI-
toriums, prisons, Libraries hospitals,
fire stations or equipment viaducts 1r
bridges, and for any and all public
buildings. structures or grounds that
may be required by said municipality
Tor the proper and economical admin.
istrsticn OF its government; and for
any other public improvements OF
.psrrrs1 ,,-,4re for the use and bgDafit