The Harrison times., 1914-06-06
Constitutional
Amendment No. "A
PROPOSED BY INITIATIVE PETITION.
MUNICIPAL BOND AMENDMENT.

AFucle 10, Section L. 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 munci-
| pallty ever issue any interest-bearing
| evidences Of Indebtedness except such
bonds AS may be authorized by law to
| provide for and secure the payment Of
| the indebtedness existing at the time
| OF the adoption Of the Constitution Of
| lh14, and the state shall never issue any
! lhterest-bearing treasury warrants or
| scrip.
! Provided, that incorporated towns Of
! 1000 or more population, as shown by
| the next preceding Federal census, or
| by a census taken for that purpose by
| the municipal authorities Of said towns
| ana cities Of the first and second class
! may iSsuc, by and with the consent Of
| majority or the qualified electors Of
| said municipalities voting on the Qucs
| ton AZ M election held for that pur
! pose, bonds or other interest -bearinl
| evidences Of Indebtedness In sums and
! FOR the purposes approved by such ma
| JorIty at such election, as follows
| tO-Wit.
For the funding or rerundng OF any
! existing Indebtedness incurred prior 70
! the adoption Of this amendment, for the
| requirement construction or mainten-
ance Of public highways, streets, alleys
| or houleVards, for the purchase OF equip
| ment OF parks or Fairgrounds; for the
| construction Of sewers; for the purchase
! or construction Of city or town halls,
! auditOrumS, prisons, Libraries, hospitals,
! fire stations or equipment, yiadrcts or
| bridges; and for any and all public
! buildings, structures or grounds that
! may be required by said municipality
! for the proper and economical aGminis-
! traton Of It's government; and for any
| other public improvements OF general
nature for the use and benefit Of said
Municipality
Provided, that no municipality shall
ever grant financial aid towards the
| construction OF railroads or other pr-
| yato enterprises operated by any prI.
| vatc person or corporation; and, pro-
! vidcd further. that any OF tho aforesaid
| lmproyomcnts may be within or with
out the corporate limits Of said munlci'
! palitIes
No money raised for specific pur.
pose shall ho used FOR any other or
different purpose,
No bonds or other intorcst-bearlng
evidences Of indebtedness issued under
the authority Of this amendment shall
ever bc sold at less than par and when
issued by cities Of the first class they
shall not bear greater rate Of interest
than five 60 per cent per annum, ana
when issued by cities Of the second
class ana by such incorporated towns
az aforesaid shall not bear a greater
rate Of interest than six (6) per cent
per annum, In order 10 provide for the
payment Of bonds and other Interest,
bearing evidences Of Indebtedness and
the interest thereon, n special tax, not
10 exceed seven (7) mills on the dollar
IN addition 10 the rate OF taxation now
permitted, may bc levied by said munlcl'
palltlos on the taxable propertv therein;
aud any Of said municipalities issuing
amy bonds or other Interest hearing cyl.
InntpN "A IDItltpInHNH Hlull Inc pfDpp a
0t the time OF doing so, provide for the
collection OF n direct annual tax, not
exceeding the amount limited Os above
mnolcnt 20 pay thr interest o. eNch
bonds or other interest hearing owl
dennoa Of indebtedness az they fNll duo
aud also 10 pay and discharpc the
principal thereof, within thiry.flvo
(3h) years from the time Of issuing the
same, Provided further, That bonds or
other intrroatsbcarlng evidences Of In
debtedncsg shall not be issued for m
amount I'm the aggregate Of more thnn
seven t7l per cent OF the assessed yNluna
tlon Of all real ana personal property In
the municipality proposing to issue tho
same, nccOrdlnN 90 the last ronernl aR.
Hcsomcnt Said bonds ana othcr inter-
est.bearlng evidences OF indebtedness
shall he serial, ana Fhnll he paid on OF
rapIdV M the income derived from anld
tax viii permit Provided further that
bonds may be Issued by said munlol
pRitios for the purpose Of ACQUIRING.
purchasing, extending, improving on
inrRnw building or constructing water
works or lighting plants with the nsgont
Of n majority Of tho voters or said
municipalities voting on such question
Said municipalities shall he authorized
at any time 20 issue such honda. with
the assent aforesaid and shall he Ruz
th0riEod 10 make levy or tHNea FOR the
purpose Of paying the PRINCIPAL and
interest Of such honda, nnd such water
works and lighting bonds or renewals
thereof shall not he included In the
computation Of the amount W bonded
Indebtedness or the amount or The levy
horelnhefore permitted, hut Hnld munl'
eipnlitiea hre permitted 10 Issue such
bonds and levy taxes therefor IN eXcesa
Of said limitations, ana the rates 0f In
tereat on such wHtor works or lghtlnf
bonds shall hc governed by the nrovlH
ions horouhefOre set out relating ~
general bonds but such bonds need not
he retired Within lhiFtNaflvo tlhl years.
Provided further, that ns additional ses
eurity Of said additional boniH a mort
eage or other lien shall he given by said
munieipalitv on such water ~ rls or
lighting plant including Its franchise
nnd all other property connected there
SnId election shall hc hold NJ such
time M the city or town council may
designate nv ordinance, which ordinance
aLNll specifically state the nurn0ar fhr
which the bonds or other interest ahahrz
ng evidences OF indebtedness nre ~
he Issued ANA n TOR more than ono pur.
pose, provision shall be made IN anl1
ordinance for hnllntng uu phrh Henn
rate purpose, the pum total Of The N
sue ihe dates NJ maturity thereof. ara
enld ordinances shall flN the date ~
election 20 that N Hhnll not occur
saHier than sixty days after tho uRsRaUo
of said ordinance AHid election shall
he held hnd conducted, ana ta vote
thereon ennyhsaed, ana the result thUre
of declared under the law ana IN the
manner now or hereafter provided rW
muni0lpnl elections 20 far ~ the HnmH
NAV hH applicable, eyoept nB herein
otharwlse pr0Vided Notice Of anId eleo
tl6n shall he given by the MaV0F hy
advertisements weekly for AZ lehrt four
times in some newspaper published N
Ahid municipality, ana having a e'fculn
ii0n therein the last publication ~ ht
rot luHn than ton Onl days prior ~ The
date Of Wld election,
Qualified electors uf said municipality
only shall have a rluht ~ vote NJ Haie
eieetiaRH, The result Of said election
shall be proclaimed ana published by
the Nav6f and the result hs trdplhmaa
shall bn conclusive unless attacked N
thp courts within sixty tB0l DAYS after
Tho date nf such pruolRmntlnn
THIS amendment shall not ropo1l nor
affect nuv law relating tn tho urgnnl
gnilop nf Improvement diHu1"lH.
This amendment shall be IN force uU0f
its ad0nti0n, and shall not rnqulrl lHgiR
ialiye action 90 put II into force aRt
All the provisions Of tHls amendment