The Sentinel=record., 1918-09-27

nicipality shall have the power 10 make an issue of bonds or other in terest-bearing evidences of indebted ness. if said proposed issue itsen, or | together with all previous issues oi
 bonds and other interest bearing evil 1 dences of indebtedness then outstand- | ing by such municipality, shall aggre- l gate as to a city of tho first class
 more in amount than five per cent | (5G), and as to incorporated towns | and cities of the second class more il
 amount than seven per cent (7e6) of | the assessed valuation of all taxable | property in the municipality proposing l to issue the same according to the last general assessment next preced- ng said proposed issue of bonds or other interest-b 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, an4 no bonds for the acquisition of rights of way for anl the construction of public highways, streets. alleys 0i boulovards issued under thoauthority Of this amendment shall be issued fol 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 cifc purpose shall ever be used To, 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 commissioners These com mssioners shall not be otherwise con nected with the administration of the affairs of said municipality and shall 1 be chosen by the 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 or any Board or Committee,
 now or hereafter provided by law, the
 same as if provision had originally
 been mad 0 for such Commissioners, and said taxpayers commissioner, together with said Mayor or Board or Committee, shall jointly exercise su- peryision 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 tracts for the expenditure of the pro-
 oeeds 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 puf- pose for which the bonds or other
 interest-bearing evidences of indeDt-
 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 l ordinance shall also state the sum to-