The Harrison times., 1914-08-01
BOND AMENDMENT
IS CONSTRUCTIVE
PROPOSED MEASURE HAS RE.
cElvEO THE APPROVAL OF
THE PEOPLE AT POLLS.
AID TO ARKANSAS PROGRESS
Amendment No. IA Is New Measure,
and Alleged Defects Of 1912
Measure are Eliminated.
(By Executive Committee Greater Al
kansas Association.)

kansas AsSoclauonl
Amendment No. H., the Bond
Amendment, is progressive, construc'
tive measure that, il adopted as now
seems almost a certainty, will give a
greater impetus to Arkansas progress
than 1t has ever known.
1t was initiated by the people and
will be one OF the three proposed
amendments submitted to the people
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 100000
voters should be thoroughly familiar
with its terms and provisions,
1t is not new proposition, for twice
before have the people expressed
themselves upon 1t, and two years ago
similar measure was carried by a
majority OF 23,000 OF the votes cast
upon the subject, but it was declared
imperative because the Supreme Court
held only three amendments could be
submitted at one time, and this was
the fifth. In the present instance,
Amendment No. II was the first sub
mitted IN point OF time.
Amendment No, IA has been most
carefully drawn after taking counsel
with some OF the states strongest le-
gal minds, and alleged defects OF pre-
vous measures have been eliminated,
making II stronger and more de-
sirable law. The restrictions have been
more severe and stronger safeguards
have been thrown about It, 80 that 1t
must appeal to the people for It's fair
ness and justice,
The proposed amendment does not
vote bonds upon any community--it
merely removes the constitutional in.
hibitlon against the issuance Of inter
est.bearlng evidences of Indebtedness.
II win permit the people in cities and
Incorporated towns exceeding 1000
population to vote on the question OF
the issuance OF bonds for certain speci.
fled public improvements ofn General
charaCter
atThese special plectohs are hedgSd
about by safe.gu0rtWdha provide the
fullest possible publicity for the pro.
lectcd bond issue and the purposes for
which II islto hn uBedpnNo boards OF
aldermen or any indIyhlNal or body OF
men can vote n bond issue upon
community for in this the people are
supreme The city councils are re-
quired to call The special elections, TO
bo held not earlier than 60 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,
ire people OF cities and towns have
o right to demand public oonyeuiences
and utilities, but an unjust restriction
IL placed upon rhem when the organic
law OF the state denies them the power
10 provide these things under approved
business methods, The present sys
tenn of shortterm accommodations at
high rates of interest, and OF improves
ment districts, Is not good business
It is provided that bonds issued By
cities OF the first class shall not bear
greater than per cent interest and
when issued by elites OF the second
class and Incorporated towns the rate
shall not exceed 4 per cent II IL n
weIlknown fact that under the pre-
yaiiuR system, cities must pay s per
cent ana frequently 10 for short term
loans or elise adopt the nonproEres'
siyc policy OF making none OF the I'M
proycmenIs the people dem0nd Thus
Z apDeura that II In not only good
buaine q, but actual economy 10 pro
vide for loans at n low rate Of interest
II is further provided that the plinci
pal aud all interest on the bonds shall
be- paid within 90 years from the time
OF issupnoe, and u special tax not TO
exceed seven mills be- levied on all
taxable property to provide fund
IOI lNN lNlli tnltHl w Nnf hNllhl N'huh
AN rapidly as the funds accumulate.
~ this means, the bonded indebted
ness Of a municipality viii gradually
be- cut down, instead OF becoming
greater year after yeur
No section OF tho proposed amend
ment In more carefully drawn than
that section which lieta the purposes
lor which bonds may be issued, when
authorized by the people NJ IN eec'
ton held for that purpose, M follows,
towii3 For the. funding or refund
lng OF any existing indebtedness In.
cured prior TO the adoption OF this
amendment for the requirement, eoo
etWolion or maintenance OF public
highways, streets alleys, or boule-
wards FOR the purchase OF equipment
or parks, or Fairgrounds for the con
struction of city or town halls, audi
torlums, prisons, libraries hospitals,
Tire stations or equipment yladuots or
bridges, and for any aud all public
buildings, structures OF grounds that
may be required by said municipality
| Tor the proper ana economical admin
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