Cleveland County herald., 1918-08-15
Proposed By Initiative Petition.
Proposed Constitutional Amendment
No. Is.
mol. 13.


l6 of the Constitution of the State
of Arkansas, 1874, and providing
that incorporated towns of one
thousand or more population. as
shown by the next preceding Fed
eral census, or by census taken
for that purpose by the municipal
authorities of said town. and
cities of the first and second class
may issue, by and with the con-
sent of majority of the qualified
electors, of said municipality vot-
ing on the question at an election
held for that purpose. bonds or
other Understanding evidences
of Indebtedness, and providing
the means and manner of payment
of said bonds.
FOR AMENDMENT NO. 10.
AGAINST AMENDMENT NO. 10.
Be 1t Enacted by the People of
the State of Arkansas:
That Section of Article Is of
the Coz stitution of the State of
Arkansas be amended to read as
follows:
Article l6,, Section [. Neither
the State nor any city. county,
town or other municipality in this
State shall ever lend its credit for
any purpose whatever; nor shall
any county, city, town or munich
patty ever issue any interest
bearing evidences of indebtedness.
except su:h bonds rs may be au-
thorized by law to provide for and
secure the payment of the indebt-
edness existing at the time of the
adoption of the Constitution of
1874, and the State shall never is
sue any interest bearing treasury
warrants or scrip.
Provided, that incorporated
towns of 1000 or more population.
as shown by the next preceding
federal census, or by census taken
for that purpose by the municipal
authorities of said towns and cities
of the first and second class, may
issue, by and with the consent of a
majority of the qualified electors of
said municipality voting on the
question at an election held for the
purpose, bonds or other interest
bearing evidences of indebtedness
IN sums and for the purposes ap-
proved by such majority at such
election, as follows, to-wit::
For the funding or refunding of
any existing Indebtedness incurred
prior to the adoption tf this
amendment; for the acquisition of
rights of way for and construction
of public highways, streets, alleys
or boulevards within the corporate
limits of such municipality; for
the purchase, development and i'm
provement of parks, located either
within or without the corporate
limits of such municipality; for
the construction of sewers; for the
purchase of sites for, or for the
purchase or construction of, city
or town halls, auditoriums, pris-
ons, libraries, hospitals, viaducts,
bridges, or buildings for housing
fire fighting apparatus; and for the
purpose of acquiring, purchasing,
extending, improving. charging,
building or constructing of water
works, or light and heat plants.
AS additional security in provid-
ing water works or light and heat
~ 'nts for cities and towns, a mort
.gag.. or other lien may be given
by soeh municipalities on such
water works or light and heat
plants and the income thereof. and
the franchise and other property
connected Herewith.
No bonds or other interest bear
ing evidences of indebtedness is
sued under the authority of this
amendment shall bear greater
rate of interest than six per cent
per annum, payable either annu-
l.