Washington telegraph., 1914-07-03

out the corporate limits or said munISl-
palities.
No money raised for a specific pur-
pose shall be used for any other or
different purpose.
No bonds Or other interest-bearing
evidences OF fd5ebteGnesS Issued HssE-as
the authority of this amendment shall
ever BE- sold at less thar par. and when
issued by cities of the first class they
shall not bear greater rate of interest
/ than five (5) per cent per annum, and
when issued by citie5 of the second
class and by such incorporated towns
as aforesaid shall not bear a greater
rate of interest than six go per cent
per annuni. In order to provide for ths
payment of bonds and other intersst-
bearing evidences of Indebtedness, and
the interest thereon. a special tax, not
20 exceed seven ca mills on the dollar,
IN addition to the rate OF taxation now
permitted. may be levied by said munich
palities on the taxable property therein:
end any of said municipalities issuing
any bonds or other interest-bearing evi-
dences of Indebtedness shall before o.
at the time of doing so, provide for the
collection of a direct annual tax not
exceeding the amount limited as aboyV,.
sufficient to pay the interest or such
bonds or other interest-bearing evil
dences OF indebtedness as they fall due.
and also to pay and discharge the
principal thereof within thirty-fivs
1850 years from the time of issuing the
same Provided further that bonds or
OLleT llIeTeSI-DedTlnE evidences of in
debtedness shall not be issued for avn
amount in the aggregate of more thar
seven Cd per cent OF the assessed valua-
tion of all real and personal propertv in
the municipality proposing to issue the
same, according to the last general as
sessment. Said bonds and other inter-
est-bearing evidences of Indebtedness
shall be serial and shall be paid or as
rapidly as the income derived from said
tax will permit Provided further that
bonds may be issued by said munici.
I fnr fhA
purchasing. extending improving. en-
iarging. building or constructing wate1,
works or lighting plants with the assent
of a majority of the voters of satH
municipalities voting on such question.
Said municipalities shall be authorized
at any time to issue such bonds with
the assent aforesaid. and shall be au-
thorized TO make levy of taxes for the
purpose of paying the principal and
interest of such bonds; and such water
works and lighting bonds or renewals
thereof shall not be included in this
computation of the amount Of bonded
| Indebtedness or the amount of the Levy
| herefnbefore permitted but said munI-
| cipalities are permitted to issue such
/ bonds and levy taxes therefor in excess
/ of said limitations. and the rates Of In
/ terest on such water works or lighting
bonds shall be governed by the provis-
/ ions hereinbefore set out relating 20
/ general bonds. but such bonds Eeed rot
/ he retired within thirty-five 1851 years.
| Provided further that as additional Sc
] Curity of said additional bonds. "A mort
! gage or other lien shall be given by said
| municipality on such water W, r<s or
lighting plant. including its franchise
| and all other property connected there
said election shall he held at such
! time as the city or town council NAV
| designate by ordinance, which ordinance
skall specifically state the purpose for
| which the bonds or other interest-bear-
| ing evidences Of Indebtedness are to
| be issued. and if for more than one pur-
| pose provision shall be made in said
| ordinance for ballOting on each Sepa-
rate purpose; the sum total of the is
| sue: the dates of maturity thereof; and
said ordinances shall fix the date OF
| election. so that IL shall not occur
earlier than sixty days after the passage
| OF said ordinance. Said election shall
be held and conducted. and the vote
| thereon canvassed. and theTesult there
| of declared under the law and in the
! manner now or hereafter provided for
Municipal elections. so far as the sans
| maT be applicable, except as herein
! otherwise provided. Notice of said cleo
! tion shall be given by the Mayor bv
| advertisements weekly for at least four
| times in some newspaper published IN
| said municipality, and having a c'rcula- j.
tion therein, the last publication to be
| rot loss than ten (1O) days prior to the
! date Of said election.
Qualified electors Of said municipality
| only shall have right to vote at said
I-eIeotions The result of said election
| shall be proclaimed and published bv
| the Mayor. and the result as proclaimed
| shall he conclusive unless attacked In
! the courts within sixty (60) days after
| the date of such proclamation.
This amendment shall not repeal nor
| affect any law relating to the organi-
| zation of improvement districts.
| This amendment shall be in force upon
| it's adoption, and shall not requir" legis-
lative action to put it into force and
| effect.
All the provisions of this amendment
| shall be treated as mandatory. and all
| provisions of the Constitution or amend
| ments thereto in conflict herewith are
! hereby repealed
Filed in the office Of the Secretary OF
! State on the 5th day OF March, 1913.
Each elector may vote for or against
| the above amendment
| Witness my official signature thia
R9th day Of May. 1914.
EARLE w. HODGES,
Seal Secretary OF State