The courier-index. (Marianna, Ark.) 1917-current, 1918-08-23
s.o m IrrTIATTvn
.oxsTTTUTIONA

1ng cee ~ the STATE
titution UO,royiding that ineor.
IN, ana - thousand or more
svns shown by the c. r TAX
= e census, or by een nysnicipal
Il pur,ygUtsow town. and'cities OF .n = :
8 Of sslo, s y. may issue. py sho
s,copd els a majority OF the
consent % ~ said municipality
sl .ss question at Ia an or other
ne rurpose, bonds oddebted.
thst pu ssyidences of indeD.eod
caring lang the means anu
4 prsnt Of said bonds.
I pa .y,p,spMENT NO; 49,
Ah .SMnENDMENT NO. IL.
sI ~ the People OF the
~ Article 1s of the
sction ~ state of Arkansas
son OF lad as follows; 49,.
20 "a section !. Nei'f town or
arsys,,ty in this state sna ~ !.
bpiclpsnr.s,d for any purpose
its Nall any county, CITY,
nor s ever issue any
por;dences Of indeoteo-
ept SUI" to provide for ana Sc. !.
by Jaw avn = Of the Indebtedness
paylnse time of the ADOPTION
at the IN If 1874, and the
ronFu.uuar issue any interest
treass.t incorporated towns on
"a aaq population, as shown py
nor.i ding federal census or
pree, 'an for that purpose py
bs taken .ho critics of said towns
|clp s The first and second Grass !
y " and with the consen. "
y y he qualified electors or
o. l NV voting on the Dues
rclpa.mct,o held for the pur-
an other Understanding
pas !, II indebtedness in sums ana
?, approved by such ma
Pu ansb election, as follows To-
u,a or refunding or any
luh,adness incurred prior 70
lnue' ~ this amendment; TOT
,l;.ion of rights of way TOT
ui s,1i of public highways,
s u. or boulevards within the
shv We of such municipality;
. ahase development and I'M
y Of parks, located ei.ne . :
y v,thout the corporate limits
rrricipality; for the construc-
msrs. for the purchase or
r Tor the purchase or con
" citv or town halls, audi
Ur,sons. libraries, hospitals
spriapes or buildings for hous-
sDhting apparatus: and Tor tho
!, acouiring, purchasing. ex-
'Umnroving. charging, building
.mst,ng OF water works, or
Mat plants. AS additional
!, nroyiding water works or
heat plants for cities ana
.orteaee or other lien may
Nv such municipalities on
s,.r works or light and heat
"A The income thereof, and the
and other property connect
With. ,4 ho.r,rv
- Indebtedness issued under
oritv of this amendment shall
Sysster rate of interest than six
nsr snnum, payable either an
= semi-annually, and bonds Is
/ e,tiss OF the first class shall not
an . basis of more than f1ve per
81 h TO say, the cost to the
Ssiity for interest and discount
Issue Of bonds shall not exceed
.nt psr annum, and bonds Is
cities Of the second class and
r.tsd towns shall not be SOLD
m OF more than six per cent
[bonds issued under the author
fhia amendment shall ever be
tcept At public sale after twenty
In some newspaper
4, bona fde circulation in the
Aality issuing said bonds.
|der TO provide for the payment
konds and other Understanding
4. Of Indebtedness issued under
visions OF this amendmnt. and
| thereon, q special tax, not to
1--we mills on the dollar. in ad-
y the rate now permitted. may
q BY municipalities on the tax
|bperty therein: and any munic-
|Issuing any bonds or other In
bearing evidences of indebted
hin. before or at the time OF
y, levy a direct tax payable an
mot exceeding the amount Him.
above, sufficient to pay the In
BIZ such bonds or other interest
evidences of Indebtedness al
he natures, and also sufficient
and discharge the principal OF
b bonds or other interest bear
licences OF indebtedness at their
i've maturities; provided, thai
bye Imitation Of the RATE OF tax
hall not apply to bonds issued
municipality for the purpose OF
|ng, purchasing. extending, I'M
B charging. building or con-
he water works and light and
lants, but the levy Of the spe-
Of I'VE mills authorized by this
ment having been exhausted OF
lance unlevied being insufficient
interest on and retire the pro-
bonds, said municipality, for the
. Of paying the principal and
! Of such water works and light
AT plant bonds. may, so far as
q, levy and collect a special tax
ltlon to the rate allowed by this
ment Of not to exceed Ave mills
dollar; provided also, that, as q
and additional limitation upon
ne Issuance of bonds or other
CLEARING evidences OF indebted
nd the levy of a special tax to
lerest thereon and retire the
! their respective maturities, nc
PATTY shall have the power ia
an Issue OF bonds or other in
bearing evidences OF indebted
said proposed issue itself. oil
y with all previous issues OF
ana other interest bearing evil
u Indebtedness then outstand-
such municipality. shall aggre-
10 city OF the first class
y amount than FIVE per cent
ana as to Incorporated towns
~ Of the second class more in
man seven per cent (7%) oil
'essed valuation OF all taxable
y IN the municipality proposing
me same, according TO the last
y assessment next preceding SAID
y issue of bonds or other inter.
ing evidences of Indebtedness
sOnus and other interest. bearing
- 81 Indebtedness shall be Sc
,asulhs annually after three
,on cate OF issue, and shall bs
az tney mature, and no bond.
aeQuisltion of rights of way fol
i obstruction of public high.
lsa A. alleys or boulevards is.
AcI the Auth nrifU 80 ttf- - -. .. a