The Sentinel=record., 1918-10-22
LEGAL NOTICES

at their respective maturties, no mu- nicipality shall have the power 10 make an issue of bonds or other in terest-b bearing evidences of indebted ness, if said proposed issue itself, or together with all previous issues of bonds and other interest bearing evil dences of indebtedness then oUtstand- ing by such municipality, shall aggre gate as to a city of the first class more in amount than five per cent (jG), and as to incorporated towns and cities of the second class more il amonunt than seven per cent (7%l of the assessed valuation of all taxable property in the municipality proposing tO issue the same according 10 the last general assessment next preced- ing said proposed issue of bonds or other interest bearing evidences Of indebtedness.
 Said bonds and other interest-bear- ing evidences of indebtedness shall be serial, maturing annually after three years from date of issue, and shall be paid off as they mature, ana no bonds for the acquisition of rights of way for and the construction ot public highways, streets, alleys oI bouleyards issued under theauthority of this amendment shall be issued Tof a longer period than fifteen years, and no other bonds shall be issued for longer period than thirty-fiye years.
 No municipality shall ever grant financial aid toward the construction of railroads or other private enter prises operated by any person, firm or corporation, and no money raised under the provisions of this amend ment by taxation or by sale of bonds for a specific purpose shall ever be used for a longer period than thirty five years
 No municipality shall ever grant financial aid toward the construction of railroads or other private enter prises operated by any person, firm or corporation. and no money raised un- der the terms of this amendment by taxation or by sale of bonds for a spe- cidc purpose shall ever be used for any other or different purpose.
 For each separate issue of bonds, as proposed by any municipality, under the terms of this amendment, there shall be chosen three citizens as tax payers com missioners. These com- missioners shall not be otherwise con- nected with the administration of tho affairs of said municipality, and shall be chosen by :he City Council or other governing body at thetime of the pas sage of the ordinance calling an election for the purpose of voting up- on said particular issue of bonds. The
 advertisement of such election shal
 state the names of the proposed com
 missioners for the information of the public.
 The taxpayers commissioners du- ties shall Oe to act in conjunction with the Mayor OF any Board or Committee. now or hereafter provided by law, the same as if provision had originally been mad for such Commissioners, and said taxpayers commissioner. together with said Mayor or Board or Committee, shall jointly exercise su- pervision over the sale of any bonds which may be voted by the people at such election, and shall jointly see to it that funds thus provided are prop erly and economically expended for the purpose specified in the issue of bonds as voted by the people. and 70 that end shall pointly make all con- pfu @P ha ceeds of the sale of each issue of bonds.
 Said election shall be held at such time as the city or town council may designate by ordinance, which ordi- nance shall specifically state the pur- pose for which the bonds or other interest-bearing evidences of indenl-- edness are to be issued, and If for more than one purpose, provision shall be made in said ordinance for ballot ing on each separate purpose; which shall also state the sum to- tai of the issue, the dates of matur- ity thereof, and shall fix the date Of the election so that it shall not occur earlier than sixty (6O) days after the passage of said ordinance. Said cleo ton shall be held and conducted, and the vote thereon canvassed, and tha result thereof declared. under the law and in the manner now or hereafter provided for municipal elections, SO far as the same may be applicable, except as bCrein otherwis. provided. Notice of said election shall be given by the Mayor by advertisements weekly for at least four times, in some newspaper published in said and having bona fide therein; the last publlca- ion to be not less than ten (10) days 'rior to the date of said election.
 Qualified electors of said munich ,ality only shall have a right to vote 1t said elections. The result of said election shall be proclaimed and pub7 ished by the Mayor, and the result as proclaimed shall be conclusive unless ttacked in the courts within thirty 30) days after the date of such pro- lamation