Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1914-10-29
SECOND CONSTITUTIONAL AMEND
MEM.

SECOND CONSTITUTIONAL AMEND
MENT.
Providing for an increase of the limit
of indebtedness that Kansas City may
incur for the purpose of acquiring or
purchasing public utilities.
Joint and concurrent resolution sub
hitting to the qualified voters of Mis-
Gle X of the Constitution thereof, au-
thorizing the increase of Indebtedness in
Kansas City for the purpose of acquiring
or purchasing public utilities.
Be it resolved by the Senate, the House
of Representatives coHcurring therein,
as %foLiotcs:
At the general election to be held on
the Tuesday next following the first Mon
day in November, A. D. 1914, the fol-
lowing amendment to section y of ar
ticIe Y of the Constitution of the state
of Missouri shall be submitted to the
qualified voters of the state. to-wit:
Section 1. Municipal indebtedness-limit
of-how increased-eXceptions as to St
Louis and Kansas City.-Section II of
article Y of the Constitution OF the state
of Missouri shall be amended by insert
ing after the following words: "PToUided,
further, that in the city of Kansas City,
the amount of bonds issued by said city,
bearing date July III, Z, 1895, for acquir-
ing waterworks and all bonds hereafter
issued in renewal of said bonds, or any
portion thereof. shall not be included in
the computation of the existing bonded
indebtedness of said city in determining
the amount of bonds authorized to be
issued by said city, with the assent of
two-thirds of the voters under the pro-
visions of this article. but said city shall
be authorized at any time to issue bonds
with the assent aforesaid, to an amount,
including outstanding Indebtedness, other
than that above named. to the amount
of five per centum of the value of the
taxable property i'll said city, to be as
certained as above specified the follow
lowing words: 'ProUided, further, that
Kansas City may acquire by purchase,
or construction, water
works, gas works, electric light works,
street railways, telegraph and telephone
systems, heating plants or any other
plant or public service institution within
or outside of the limits of said city, for
use of the citizens in said city, and for =,
the purpose of paying therefor, in whole
or in part. may issue public utilities
bonds. which, public utilities bonds shall
not be included in the liabilities or in
debtedness of the city limited by the
prior provisions of this sections; but the
total amount of such public utilities bonds
to be issued by Kansas City shall not i,
exceed twenty per centum of the value
of the taxable property in said city to
be ascertained as above specified; the
principal of said public utilities bonds |
shall not constitute an obligation of the
by taxation, but the principal of each
issue of such bonds shall be payable out
of the earnings or sale of the utility or
DltlL u the dCitliSlllDH OF purchase OF
which such issue was made. The interest
on such bonds and a sinking fund for
the payment of the principal at ma
turity shall be paid out of the earnings
or sale of the utility. or out of funds
raised by taxation. or both, as shall be
provided in the ordinance authorizing the
issuance of such bonds. Such city shall
have power to execute its mortgage or
mortgages on any such utility, or any
addition thereto. or extension thereof, to
secure the aymen of such public utili-
ties bonds. and in case of default in the
payment of such public utilities bonds,
or interest thereon, said bond holders,
or their representatives, may apply to
any court of competent jurisdiction sitting
in Jackson county, Missouri. and said
court may. if said default continue, ap-
point a receiver to take charge of such
and such receiver shall operate
said property pending such proceeding in
such court and until n final decree of
foreclosure in such proceeding and for
a period of one year thereafter, during.
which period the city may. upon pay
ment to the bond holders of all indebted
ness past due and court costs accrued
to the date of m retake said prop
If said property is not thus re-
by the city within said period of
exemption. said receiver shall deliver
said property to such party as the court
in such action may ORDER, and thereupon
all liability of the city on said bonds