The Nevada County picayune., 1914-08-07
BONO AMENDMENT
 IS CONSTRUCTIVE
, PROPOSED MEASURE HAS RE. cEIvEo THE APPROVAL OF
 THE PEOPLE AT POLLS.
AID TO ARKANSAS PROGRESS
Amendment No. 14 Is New Measure, and Alleged Defects Of 1912
 Measure are Eliminated.
(By Executive Committee Greater Ar
 kansas Associauon.)

(By Executive Committee Greater Ar
 kansas Associauon.)
 Amendment No. fl. the Bond Amendment, is a progressive. construc. tive measure that, if adopted, as now seems almost certainty, will give greater impetus to Arkansas progress than 1t has eFC7 known.
 1t was initiated by the people and will be one ot the three proposed amendments submitted to the people at the e.4etion in September. To: six weeks its text has been printed in the newspapers of Arkansas, and by this tune everyone of the states 10000 voters should be thoroughly familiar with its terms and provisions.
 It is not new proposition, for twice before have the people expressed themselves upon it, and two years ago & similar measure was carried by majority of 23,000 Of the votes cast upon the subject, but II 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. Ii has been most carefully drawn after taking counsel with some of the states strongest le- gal minds. and alleged defects ot pre- vious measures have been eliminated making 1t a stronger and more de- sirable law. The restrictions have been more severe and stronger safeguards have been thrown about II, so that it 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 hibition against the issuance of inter est-bearing evidences of indebtedness. It will permit the people in cities and incorporated towns exceeding 1000 population to vote on the question of the Issuance of bonds for certain speci- tied public improvements of a general character.
 These special elections are hedged about by safeguards that provide tho fullest possible publicity for the pro iected bond issue and the purposes for which it is to be used. No boards of men can vote a bond issue upon d 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 tNe passage of the ordinance, and even after the declaration of the election returns any citizen shall have the right Ci protest in the courts for b0 days before the issue becomes effective.
 The people Of cities aAG towns have 3 right to demand public conveniences aad utilities, but an unjust restriction is placed upon them when the organic law Of tho state denies them the power to provide these things under approved business methods. The present sys- tenn of short-term accommodations at high rates U interest, and Of improve ment districts, Is not good lrsiNess
 1t is provided that bonds issued by cities of the first class shall not bear greater than per cent interest, and when issued by cities of the second class and incorporated toH-os the rate shall not exceed 6 per cent It is a well-known fact that under the pre- vailing system, cities must pay per cent and frequently 10 for snort term loans, or else adopt the non-progres- sive policy of making none of the iur- provements the people demand Thus it appears that it is not only good business, but actual economy to pro vide for loans at a low rate of interest. It is further provided that the pTinci- pal and all interest on the bonds shall Dc paid within 35 years from the time Of issuance, and a special tax not to exceed seven mills be levied on ali taxable property to provide a fund for the retirement of the serial bonds as rapidly as the funds accumulate, By this means, the bonded indebted ness of municipality will gradually he 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 bonds may be issued. when authorized by the people at an cleo tion hetd 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 acquirement. con, etruct.on or maintcnance Of public highways. streets. alleys, or boule wards; for the purchase Of equipment or r. clIs, or playgrouads; for the con struction of city or town halls, audi toriums, prisons, libraries, hospitals fire stations or equipmoct viaducts or bridges. and for any and all public builC ings. structures or grounds tha, may be required by said munieipalit! for lhe proper and economical admin