The Dermott news., 1914-07-30
PROPOSED MEASURE HAS RE
cEIvED 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 Ar
kansas Assoeiatlon.)

Amendment No. IA, the Bono
Amendment, is a progressive, construc-
tive measure that. II adopted. as nov
seems almost a certainty, will give a
greater impetus to Arkansas progress
thar II has ever known.
1t was initiated by the peopls and
Will be one of the three proposed
amendments submitted TO the people
at the election IN September. Foo SIX
weeks its text las been printed IN the
newspapers OF Arkansas, and by this
time everyone of the states 10000
voters should be thoroughly familiar
with its terms and provisions.
1t is not a new proposition. for twice
before have the people expressed
themselves upon IL, and two years ago
a similar measure was carried by a
majority of %. 900 of the votes cast
upon the subject, but II was declared
imperative because the Supreme Court
held only three amendments coul0 be
submitted at II time. II TINS was
the firth. In the present instance,
Amendment No. IA was the first sui
mitted IN point OF time.
Amendment No. IA has been mos
carefully drawn after taking counsel
with some OF the states strongest le-
gal minds, and alleged defects OF pre-
yious measures have been eliminated,
making II a stronger and more de-
sirable law. The restrictions nave been
~,N-A aA.r.., av| atrA1anAr 50 e Jt4. ~ =
nave been thrown about IL, SO that Il
must appeal TO the people Tor Its far
ness ana justice.
The proposed amendment does not
vote bonds upon any community
merely O the constitutional IN
hibitlon against the issuance OF inter
est-bearing evidences OF indebtedness.
1t Will permit the people in cities and
incorporated towns exceeding l,0Uo
population to vote on the question OF
the issuance OF bonds for certain speCl
fled public improvements OF a general
character.
These special elections are hedged
apout by safeguards that provide the
fullest possible publicity for the pro
tected bond issue and he purposes tor
which II is TO be used. No boards or
aldermen or any Individual or body of
men can vote a bono issue upon a
community, for in this the people are
supreme. The city councils are re
quired to call the special elections, to
be held not earlier than 60 days after
the passage OF the ordinance, and even
after the declaration OF the election
returns my citizen shall have the right
OF protest in the courts for 30 avs
before the issue becomes effective.
The people of cities and towns have
q 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-
tenn of short-term accommodations at
high rates OF interest, and OF improve
ment districts, is not good business.
1t is provided that bonds issued by
cities of the first class shall not bear
greater than 8 per cent interest, and
when issued by cities OF the secoud
class INC Incorporated towns the rate
shall not exceed 8 per cent. 1t is a
~wetl-known fact that under the pre-
vailing system, cities must pay S per
cent n frequently 10 for short term
loans. or else adopt the n~on-proEres
sive policy of making none of the i'm
provements the people demand. Thus
it appears that II is not only good
business, but actua economy to pro
vide for loans at a low rate OF interest
1t is further provided that the pIinci-
pal and all interest on the bonds shall
be paid within 30 years from the ttuse
OF issuance, and a special tax not to
exceed seven mills be levied on all
taxable property to provide a fund
for the retirement OF the serial bonds
ss rapidly as the funds accumulate
BY this means. the bonded indebted
ness OF a municipality viii gradually
be cut down, instead OF becoming
greater year after yeur.
No section OF the proposed amend
ment is more carefully drawn than
that section which lists the purposes
for which ponds may be Issued, when
authorized by the people at an cleo.
ton 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 boule-
wards; for the purchase OF equipment
or parks, or Fairgrounds; for the con
struction OF city or town halls, audi
forums, prisons, Libraries, hospitals,
fire stations or equipment. viaducts or
bridges. and for any and all public
buildings. structures or grounds that
may be required by said municipality
Tor the proper and economical admin
sstration or its government; n for
any other public improvements OF a
general nature for he use and benefit
NJ said municiDalitYH