The Forrest City times., 1914-06-19


 towns ursc-r certain oordit3ocs 10 issre interest bearing bonds and other evil Ssr>zes os fzdsbtedrssar
 TOR AMENDMENT NO l.
 AGAINST AMENDMENT NO f4
 Be II Enacted by the Peopl. of h.
 That Section ! ot Article Is of n. Cc1stitatsor ot tts Stat. of A-xaeess r su.nt-d % ss tc read ss follows
 Article fs Section %ssths- ras Stat nor any city. county. town sr s<,,r- rrGnicftality in thls State shal s~e< ioer is credit for any pu-pSo&. ~kst~~e<; Do< snsIl Any county. city. to~. or rruric+ pa1lty ever issue any trtsyest-5-sS.nx @vtc snces Of ipdebts6ness except s1oh oords ss may be authorized oy a~ ss p~eTtcs for and secure the payment 0s 1T tho adoption o. the Constltat ton of 1Es- and the State sEau never .-~v. ezy scrip
 Provided. that Irco-orztss town. of ] .sss or more population. as .h01xn ey tae next breeding Federal cA1szs- ss ey 8 census taken for that p1-poe~ ky t-s municipal authorities C. sad tcwur ard cities of n. first and second cJzss nay ass4e 0T ard with th@ consent Of majority of --s qualified electors .. said E1sHte1ps ittes voting o- Inc 11e. lr1 at az election he'd Tor thz: p1r- pose bonds IT other trts-sst-bes-4nz evidences Of snsetg@sn-x= "a sums ard So- me purposes approved oy such zn.- tort- st s1oh election az fellows
 For ;1e fandf-z e -.f8-.tns sr any e1AsttaE Indebtedness iz-srre. p-foy so the adoption cf this zoen6r1ent. for tA. &cc1treIEert construction e uasntsr- A1c@ CT public highways, streets. alleys CT bosleFsrtE. for the purchase Q, seEr1- TneIt os parks or playa grounds: for cs corstrrctior Of sewers. for the -raxchAse or co-Etrgctt1n Of city CT town hAl1N au1itoriarrs. Triso1s libraries hoxp.cais fire stations or e2ufpre-t viatccts sr brftges. and for any and all public buildings, structures or grounds thaa may he required by sz4s -anictpattty for tb. prope- and economical aC u1. nas- .ration of its government and fer any other public improvements of general nature for the use and benefit os said municipality
 Provided that TO municipality shall sTer grant financial aid towards the construction ot railroads or other pn- vare enterprises operated by any pr1 vzts person or corporation: and. pro- vIded further that any ot th. aforess.1 Improvements may ne within or with cut the corporate limits Of said runtei- ps1itfes
 No money -ssssd for specific psr- ,ess shall be used for any other or 4irersnt purpose
 evidences of Indebtedness issued under usa authority of this amendment shah ever be sold .t less than par. and wAAA 6s1sd by cities c, the firFt class thsv
 
 6an five fb per cent per anrurn. and when issued by cities of th. seconA efass and by such incorporated towns sS aforesaid shall cot bear . greatr pr annunl Tn order to provide for the payment Of bonds and other intarN1A- bearing evidences of indebtedness and the interest thereon. . special tax, ruos 70 exceed seven f7) n1lIs on th. dotlAr fn addition to the rate of taxnk.nn now permitted. may be levied by s,1d rnunica- p~iities on ,hs taxable proDe1v theres; and any of said municipalitiss issusns sny bonds or other interest bearing svt- derlces Of indebtedness shall before or at the time of doing so. provide for oAs collection of c direct annual tax, n0t exceeding the amount limited as aeovA bond. or otkef tnterest-b..r,nr =. asees of i.ndebtsdnesg as they tall ~. principal thereof. within thirty -fiye l35) years from the time Of issuing the same Provided further. that bonds o. other interest-bearing evidences of te- amount in the aggregate If more thkn seven f.D per cent of the assessed valvs- tion of all real and personal property fn sasas as aDs5Piiy aesaFPiny RFgP:s7p+ p G 7s E ... a n sessment Said bonds and othe- fnteF- sstb~aring evidences of Indebtedness, shall be serial and shall bs paid of al rapidly as the income derived from said tAJ will permit Provided furtb~r that bonds may be issued by said munici palitiee for the purpose or aeoGirinx purchasing. extending. improving a. largfng. building Or constructing vst1i works or lighting plants with the assent sf majority Of the voters of said municipalities voting on such question Sad mgnicipslitles shal be authorized at any time 10 issue such bonds with the assent aforesaid and shall be au thorized to make levy Of taxes for tho Yurpose Of paying the principal and Interest Of such bonds 3 nd such wate' works and lighting bonds or renewals thereof shall not be included in ths computation of the amount Of bonded Indebtedness or the amount of th. levy hereinbefore permitted but raid rruni- ~ipxlltieH are permitted 10 issue such bonds and levy taxes therefor iu excess of said Limitations. and the rates Of in- .erest on such water works or lighting bonds shall he governed by the provis tors hereirbefoT~ set out relating to general bonds but such bonds need not te retired within thirty-fiye t35l years Provided further that additional se- ci.rlty Of said add t'oval bonds mort gage pr other lien shall be given by said municipality or such water w.rks or lighting plant including its franchise and all other property connected there with
 Said election shall b. held st such time the city or town council may deeignat. by ordinance. which ordinance shall specifically state the purpose for which the bonds or other interest-beer- r. ing evidences Of Indebtedness are to be issued. and If for more than one pur- pose provision shah be made in said ordinance for balloting on each seps- rate purpose. the sum total of ths Is sue. ths dates Of maturity thereof; ard said ordinances shall fix the date 0. alection so that il shall not occur earlier than sixty days after the passage of sa-d ordinance Said election shall be held and condurted, and tn. vote thereon canvasred. and the result there of declared. under the law and in ths rranne- now or hereafter provided for municipal elections. so far s.s the sams may be arnlicshle. except as herein otherr!ye provided Notice or said cleo tfnn shall ne given by the Mayor by advertisements weekly for a. least four times iu s0ne newspaper published in said fnunictusl'ty, cad having 6 elrc,Iis- tor thrr~in. the ias. publics ton to os rot l1-s than ten fis) days prior 10 ths date of said e'ecttcn.
 Qualified electors of said municipality ' n-rv ehsll Fave 8 rtzht to yste at said sI.ction- The result or said election sha1t he procla 'ra~f ana published by tr. Mayor and the result as proclaim d sraU te r0rolasfvN gnless attacked ir tAe courts w'tNtn sixty (se) days after tt@ ,s,ff nF such pr0cla me ton
 T .fs ame~d d-rseDt shall not repeal nor s-e1t any law relating to the orgsni.