The Sentinel=record., 1918-09-03

nicpality shall have the power to
 make an issue of bonds or other in- | terest- bearing evidences of indebted
 ness, if said proposed issue itself, or together with all previous issues of
 bonds and other interest bearing evil denccs of indebtedness then outstand- ing by such municipality, shall aggre- | gate as 10 a city of the first class more in amount than five per cent 1 C5%) and as 10 incorporated towns and cities of the second class more in | amount than seven per cent (1t) Of 1 the assessed valuation of all taxable property in the municipality proposing
 to issue the same according to the l last general assessment next preced-
 ing said proposed issue of bonds or other interest bearing evidences ot 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, ant no bonds for the acquisition of rights of way for and the construction of public highways, streets, alleys or bouleyards issued under theauthority of this amendment shall be issued toi longer period than fifteen years. and no other bonds shall be issued for a longer period than thirty-fiye years.
 No municipality shall ever grant financial aid toward the construction of railroads or other private enter prses 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 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 pnses operated by any person, firm OF corporation, and no money raised un- Ger the terms of this amendment by taxation or by sale of bonds for spe- cilc purpose shall ever be used roI any ONllti Ol uiA At'i tIl lhl pOnts
 For each separate issue of bonds as proposed by any municipality. unner the terms of this amendment, there shall be chosen three citizens as tax payers commissioners. These com missioners shall not be otherwise con- nected with the administration of the affairs of said municipality, and shall 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 0e 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 for such Commissioners
 and said taxpayers commissioners 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 oi bonds as voted by the people, and 70 l that end shall pointly make all con tracts for the expenditure of the pro 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 pul- pose for which the bonds or other interest-bcariug evidences of indeo,- elness are to be issued, and if for more than one purpose, provision shall be made in said ordinance for lallot- ing on each separate purpose: which ordinance shall also state the sum to- tal of the issue the dates of matur- fly thereof and shall fix the date of the election so that 1t shall not occarI earlier than sixty (GO) days after the| passage of said ordinance. Said cleo ton shall be held and conducted. and the vote thereon cauvassed. and theI result thereof declared, under the laWI and in the manner HOW or horeattorl provided for municipal elections. sol far as the same may he applicable except as herein otherwise provided Notice of said election shall be given hy the Mayor by adyertisemeutsl weekly for at least four times. inl some newspaper published in said municipality, and having a bona ndcI circulation therein; the last publlce- tion to be not less than ten O0) days prior to the date of said election.
 Qualified electors of said munici pality only shall have a right to vote at said elections The result of said E-@--------------