New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-10-05
STATE CONSTITUTION

BE- elected ). *. electors Of suoh dl,,riot, o.
appo,rf,d b. sHch authorities Thereof as shall
,,,r.s, Ia, iAs s,.".mest roll e. saer Ispses
District shdN serve for all the l,Is.r tor de
tf,cfs vithi, SIS b01rdGr,,s No snch tar dis
}, s.isbf,..d ..ni u. isp rreustrg tiersfor
,ksN hsrs been Gfopi,a ~ toft o. ne
'eTfs o. ns e!eofor' reftre theron ia such
p-sies sAsi b Md. ~ lsu. Ihs he'shfs',
-os AOv-sr. Sfer'de fsr ne Sn,,'-.erf ey
.st.s ... ,ussc ,ers,i. e.r,d. a. s.'''
Arsrn. - Sections two aud three require
70 ;. read T. ...,u.e,iCs Is III EJECT !. a,
By seD.s. Avs and for public purpose. Only
ne l.snl;tgr - required to classify n.
onlces shsll ss.. and collect tsIes except
that in the ss..,sn.at % ordlnsry zeal prop
ery me sssessins e1ieen must be selected
ia. u ID, eiv ., S.- Yor.' tax District f.
units pot srrsr thss county, but 10 tai
district lsrssr than town esn be established
Without local rs.er.adum- on. system OF
assessment and cellec;ios may b. established
for al the tai districts within n. lsrger
tar dtthet amt Til. vii s'sii q. pr..en;
large ssvihE Of eIpens- The legislature IL
required to pro-id. Tor supervision. review
max, FOR greater Uniformity AID less Unequal
~ 10 tsIftion. The Legislature IL Empowered
.ry Of public ,.rvic, corporation, BY sn~
snl street railroad. telephon. and telefrsph
electric, RS ard water properti.. has bsss
local assessors. These sections vest com
pet. ,nd nnhsnp.red power II the legislature
10 deal effectively with the subject OF taxation
10 the end that property row sotoriolsly -
csplss taIston may be made 70 bear fair
AID Just share Of the burdens Of government.
ARTICLE WILL II.
s.e,io, l. Corporations may be formed m
.p-cisi act. .Scsp, ior municipal purposes aEa
- c..e -hsr.. 4, 81, jusx@.nt Of ID. leEi,
attained under general laws. All general laws
, AID specisl scts passed purynsst 10 thus sec
tiop may be altered from time 10 time or re-
resled
section Z Dues from corporations shall BE-
secured By such Individual liability Of N.
eorpOrstYrs snd ether means IS mar be pre-
Section q III. term corporation, q. used
10 mi. srtiel. shall Be construed to include
IN .".ci.ties' ,s ssa Joint .toe. eomp.oie:
s.rtDS And al corpoTs,ons sh.iI ..S.
sued i ali courts IA Ike case. s natural
persons.
ssctls. ~, :s.,..r: ,h: b. t,.:rl
Or ssttutions for savings, 20 uniformity
Of powers, rifhu and liabilities. and all char
ters hereafter Usnted for such corporations
law. and to such amendment, ., may b. nsd.
thereto. Ard no ,ucs c0rportio. shsli have
.ry sDi,, ;,"e. , s.I ' s: u. Trustee:
vhstever. direct or Indirect, In the pronf. Of
such corporation and no director or trustee
OF any such bsnh or Institution shall be In
terested In any loan or use OF any money or
property Of such bank or institution for saw.
lnrs. The eGislstur. sbsll have no power =,
banking purposes but corporations or 1850
/ Citations may be formed for such purposes IN
sectiOn s. Tn. legislator. shall hsv. no
power to pass any law sanctioninE in any
manner. directly or Indirectly. the suspension
Of specie payments. by any person. ss.ocia,
any description.
Section 8. Tn. l.sislatur. shall proyid.
shan require ample security for tho redemp
tion Of the same in specie;
Poratien and Joint stock association for bank
ins purpose shall Be individually re,pon-
share, ,n. a H ,s nY ."eS
OF every kind
thereof shall be entitled to preference IN pay
rnent. over all other creditors Of such bank
Section Neither tn. er.di, nor me
money OF the state shall be given or loaned
or private una.r,akns '' This ,.ction shall
not, however. prevent the legislature from
making such provision 70. The education .n d
.
Juvenile delinquents, as to II may seem
proper. Nor shall # apply to any fund or
rs n, P:- s;a for or snsh %:
Section 10 No county. city. town or VIII
age shall hereafter give any money or prop.
! OF any individual. association or corporation,
or become directly or Indirectly the owner or
stock in. or bonds Of any association or cor
/ town or yilisE. BE- allowed to incur any In
debtedness except for county. city, town or
yilas. purposes. This section shall not pre-,
Of It's poor a. may B. authorized BY law.
co Pa Of M .: bs DT'f {. . t[Si
to becems indebted for any purposs or In
any manner 20 an amount which, inc.udlns
/ cen,um OF the assessed valuation Of the real
estate OF such county or city subject 70 TAXA
tion. as It appeared by the assessment rolls
OF said ;seh county or CITY on mo Ian a.
sessment for state or county taxes prior 10
! tho mourning Of such indebtcdness ana AZ
| Indebtedness in excess Of such limitation ex-
/ cept such a. new may exist. shall Be sbso-
lut.ly void, except as herein otherwise pro-
] vided. No county or city whose present In
s.sssd vslustion Of Il. real estate subject to
taxation. shall be allowed 10 become In
/ d.btedness shall b. reduced within such limit.
This section shall not be construed 10 prevent
the issuing OF CERTIFICATES OF ndeetedhes. or
revenue bonds iHsued In anticipation OF the
collection OF taxes for amounts actually con
/ tanned or 10 be contained in the taxes for
the year when such certificates or revenue
bonds are issued and payable out OF such
taxes; nor TO prevent the city Of New York
/ from Issuing bonds 10 be redeemed out Of the
. for the ryr s. ns h .sf'e eco
such bonds which may be Issued In any one
! year in excess OF the limitations herein con
I tsinsd shall not exceed one-tenth OF one per
centum OF the assessed valuation OF inc real
| eetste OF [saidl such city subject 10 taxation.
Nor :h. ms ssci tns % s0p psoyss for IN.
supply Of water. I but the term OF the bonds
ssucd 20 provide for the suHPIy OF -s.efi IL. ~
herein. shall not exceed twenty yeArs ana =
sinking fund shall be created on the issuing Of
the said bonds for ihelr r.dem2tion' py ,nsnf
| equal 20 the rurn OF tho principal and Interest
OF said bonds at their maturity Al Ger
tihcates OF Indebtedness or revenue ponos -
T sued i'm anticipation 81 ths collection OF taxes.
I which are not retired Within I'VE years after
their date OF Issue. and bonds issued TO pro.
viis for the supply OF water, and any debt
hereafter incurred by any portion or part OF
& city, Il there shall be any such debt. shsli
c,,y 70 become othtrri.o iniebted: excep;
that debts incurred By Tine city OF Ne- YORK
cities o. The INST class after the hrsi day oi
Ss.a s.nd four snd debts incGrrtd by any city
OF the second class after tho FIRST day %
Sr.d ana eight. and debts Incurred by any
city Of the third class after tho nrst day OF
January, tnineteenl org thousand n,ns hun,
rst., .hsll NOT be SO Included and except
/ further that any debt hereafter incurred by
the city OF New York for public Improve
nerf owned or 10 be s~ned BY the city,
| which Yields 20 the city current net revenue.
[ after making any necessary allowance Tor re
/ pairs and maintenance for which me eity -
'iahls In excess o. the interest on tsaidl such
d.bt and of the annual instalmentr necestAry
/ Tor It's amortization may be eIcludsd In as
/ become otherwise indebted, provided that q
sinsins fund for It's amortization nhall have
I been established and maintained ana ihst ne
snv period OF time when the revenue afore,
"a mall not be sufficient 70 equal lthe saidl
! such interest and amortization is.nh.