The Sentinel=record., 1918-08-14

h"hc an issue or DOluS or other 1n f terest- bearing evidences of indebted
 ness, if said proposed issuo itself, 0
 together with all previous issues 0 bonds and other interest bearing evi
 dences of indebtedness then outstaud
 ing by such municipality. shall aRgre gate as to city of the first clas more in amount than five per cen 4 (5ec), and as 10 incorporated town
 and cities of the second class more il
 amount than seven per cent C7%e) O the assessed valuation of all taXab,, property in the municipality proposrl to issue the same according to th'
 last general assessment next preced- ing said proposed issue of bonds o
 other interest bearing evidences 0 indebtedness
 Said bonds and other interest bear ing evidences of indebtedness shal lbe serial maturing annually after three years from date of issue. ano shall be paid off as they mature, anu no bonds for tho acquisition of rights of way for and the construction oI | public highways, streets, alleys ol | bouevards issued under theauthOritl of this amendment shall be issued foi a longer period than fifteen years, and no other bonds shall be issued fol 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 under the provisions of this amend meut by taxation or by sale of hOnGs for a specific purpose shall ever be used for d longer period than thirty five years.
 No municipality shall ever gran financial aid toward the constructtou of railroads or other private enter prses operated by any person, firm O. corporation. and no money raised un- Ger the terms of this amendment by taxation or by sale of bonds for spo cific purpose shall ever be used tOt any other or different purpose.
 For each separate issue of bonds as proposed hy any municipality, un0sr the terms of this amcndmeut there shall be chosen three citizens as tax payers commissioners. These com- |missioners shall not te otherwise cou- nected with the administration of tue affairs Of said municipality, and shall be chosen by ihe City Council or other l governing body at thctime 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 shall state the names of the proposed corr
 missioners for the information of the
 public
 I 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 e for such Commissioners
 and said taxpayers commissioner together with said Mayor or Board ol Committee, shall jointly exercise SUI lpervision over the sale of any bonds
 which may be voted by the people al such election, and shall jointly see tC it that funds thus provided are prop
 erly and economically expended foi the purpose specified in the issue o
 bonds as voted by the people, and tC
 that end shall pointly make all con
 tracts for the expenditure of the pro-
 ceeds of the sale of each issue oi bonds
 Said election shai he held at sucf time as the city or town couuci may
 designate by ordinance, which ordi- nance shall specifically state the pur-
 pose for which the bonds or other
 interest-beariug evidences of indeD,- 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 ordinance shall also state the sum to- tai of the issue, the dates of matur- Iiy thereof. and shall fix the date Of the election so that it shall not occu earlier than sixty (6O) days after tho | passaCe of said ordinance. Said elec- 1 ton shall be held and conducted, and the vote thereon canvassed, and the result thereof declared, under thc law and in the manner now or hereafter provided for municipal elections, SO far as the same may be applicable, except as herein otherwise provided. Notice Of said election shall he given | by the Mayor by advertisements lweekly for at least four times, in some newspaper published in said municipality, and having a bona fide circulation therein: the last publica- ton to be not less than ten (l0) days prior to tho date of said election
 Qualified electors of said munici- pality only shall have a right to vote at said elections. The result of said election shall be proclaimed and pub lished by the Mayor, and the result as proclaimed shall be conclusive unless attacked in the courts within thirty fS0) days after the date of such pro clamation.
 This amendment shall not repeal or affect any law relating to the organ ization of Improvement districts.
 rb in InFrC