The Sentinel=record., 1918-08-20

HANlP"HlJ bHdli nave lA6 power tOl make an issue of bonds or other in-I terest- bearing evidences of indebted ness, if said proposed issue itself, orl
 together with all previous issues of bonds and other interest bearing evil dences of indebtedness then outstand-
 ing by such municipality, shall aggre- gate as to a city of the first class more in amount than five per cent| t5&), and as to incorporated towns and cities of the second class more n| amonunt than seven per cent (7G) of
 the assessed valuation of all taxahle|
 property in the municipality proposiusI to issue the same according to the| last general assessment next preeed- ing said proposed issue of bonds or| other interest 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, ant no bonds for the acquisition of rights of way for ana the construction oil public highways, streets, alleys or| bouleyards issued under theauthority of this amendment shall be issued rol d longer period than fifteen years, and no other bonds shall be issued tor| a longer period than thirty-five years No municipality shall ever grant financial aid toward the construction f1 ,Q. fn n Q Ts- prises operated by any person, firm or corporation, and no money raisedI under the provisions of this amend ment by taxation or by sale of bonds for a specific purpose shall ever bel used for a longer period than thirty five years.
 No municipality shall ever gran 1 financial aid toward the construction of railroads or other private enter prists operated by any person, firm o' corporation, and no money raised m Ger the terms of this amendment by taxation or by sale of bonds for spe- cifc purpose shall ever be used Tor any other or different purpose.
 For each separate issue of bonds. asI proposed by any municipality, undet the terms of this amendment, there shall be chosen three citizens as tax payers commissioners These con- missioners shall not be otherwise corr nected with the administration of thol affairs of said municipality. and shall | be chosen by the City Council or otherl governing body at thetime of the pas sage of the ordinance calling an|
 election for the purpose of voting up-I on said particular issue of bonds Tae| | advertisement of such election shal state the names of the proposed com | missioners for the information of the| public.
 l The taxpayers commissioners du
 ties shall 0e to act in conjunction with the Mayor or any Board or Committee,
 LOW OF hereafter provided by law, tue same as if provision had originally been mad e for such Commissioners land said taxpayers commissioner together with said Mayor or Board or
 Committee, shall jointly exercise su- Ipervision over the sale of any bonds
 which may be voted by the people al
 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 tue people. and 70
 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 pur-
 pose for which the bonds or other
 interest-bearing evidences of indeo}- edness are 10 be issued, and if for
 more than one purpose, provision shall
 he made in said ordinance for ballot ing oa each separate purpose; which ordinance shall also state the snm to- tai of the issue, the dates of matur- lity thereof, and shall fix the date Ci the election so that it shall not occur earlier than sixty (G0) days after the passage of said ordinance. Said cleo ton shall be held and conducted, and the vote thereon canvassed, and the result thereof declared, under the Ia" and in the manner now or hereafter provided for municipal elections, SO far as the same may be applicable lexeept as herein otherwise provided 1 Notice of said election shall be given Iby inc Mayor by advertisements
 weekly for at least four times, ih (some newspaper published in sand
 municipality. and having a bona fide circulation therein; the last puollcs- tion to be not less than ten G0) days
 prior to the date of said election.
 Qualified electors of said munici-
 palty only shall have right to vote