The Prescott daily news., 1914-09-12
ISSUING BONDS
 IN OTHER STATES
FORMER ATTY. GEN. NORWOOD ENDORSES THE MUNICIPAL
 BOND AMENDMENT.

II am in receipt of your communica- tion in which you remind me that publicly opposed the adoption of the Bond Amendment submitted to the electors two years ago and asking whether l am now for or against pro posed Amendment No. II, which II adopted will authorize cities and towns to issue bonds, under certain restric' tions, to raise funds for certain pur- poses when authorized by majority of the electors of such city or town that shall submit the matter to an election.
 "I beg to reply that my opposition to the amendment two years ago was not based on any prejudice against the issuance of bonds but because of cer- tain defects in that proposed amend ment. l am glad to observe tha' Amendment No. 14 has entirely ellmf mated the objectionable features of the one proposed two years ago and that 1t includes safeguards and restric- tions that should have been incor- porated in the other proposed amend ment
 Notwithstanding what was regard ed by some as serious defects in the other amendment large majority or those voting upon the question ap' proved it, but it failed to become d part of the Constitution because not more than three amendments could be adopted at the same election. since a majority of the people were in favor of the other amendment, notwithstand- ing the alleged defects, Amendment No. 14 will receive a large majority al the coming election if the people will study it's provisions and read the able arguments presented by your eXecu- tive committee in favor of it's adop- tion. The provision of the Constitu- ton of Arkansas adopted in 1874 pro- hibiting municipalities from issuing bonds was the result of conditions that existed immediately after the war which had bankrupted the Southern states and their political subdivisions. Those conditions no longer exist, but Arkansas is about the only state that has failed to realize that the condi- tions are now different to what they were 40 years ago upon the matter Of issuing bonds.
 "In 1875 when Alabama adopted a Constitution, prompted by the same reasons that had caused Arkansas to prohibit the issuance of bonds, it provided that the cities and towns of hut in 1901 Alabama adopted a new consti- tuition which provides that munich palites may issue bonds when au thorized by majority of the quail fled voters of the municipalities vot ing upon the proposition.
 Tn 1901 the people of Texas adopted an amendment to the Constitution au- thorizing municipal corporations to issue bonds.
 Tn 1875 when Missouri adopted d Constitution it had not suffered like Arkansas and Alabama and it au- thorized the issuance of bonds by municipalities not exceeding per cent of the value of the property of such municipality but as the years went by the people of Missouri realized that the limitation was too small and therefore in 1902 the Constitution was amended placing the limitation at 10 per cent.
 "In 1877 those who framed the Con stitution for Georgia appear to have realized hat there would not be a re- turn of the chaotic conditions existing immediately after the war and pro vided that bonds might be issued by the vote of two-thirds of the cleo tors.
 "In 1879 Louisiana took the same view of the matter as Georgia and provided in its Constitution that no municipal tax should exceed in any one year ten mills on the dollar of valuation but that for the purpose of public improvement the rate of taxa. ton might be increased when au- thorized by majority of the lectors of a municipality
 "This appears to have proven satis- factory because when Louisiana adopt ed a new Constitution in 1898 there was incorporated in it a provision relating to the issuance of bonds al. most similar to the section of the Constitution of 1879.
 Tennessee took a more hoDeful view of the situation than Alabama and Arkansas, soon after the war, and in its Constitution of 1870 incorporated no prohibition against towns and cities issuing bonds.