The Sentinel=record., 1918-08-16
PROPOSED INITIATIVE
 PETITION. PROPOSED CONSTITUTIONAL AMENDMENT NO. 13.

AMENDME ENI NO. 13.
 | Amending Section l of Article 1G of 1 the Constitution of the State of Ark
 ansas, 1874, and providing that incor- | porated towns of one thousand or | more population, as shown by the next preceding Federal census, or by cen
 sus taken for that purpose by the mu-- 1 nicipal authorities of said town, anu cities of the first and second class | may issue, by and with the consent
 of the qualified electors of said muni- l cipality voting on the question at an | election held for that purpose. bonds or other interest-bearing evidences of indebtedness, and providing the means
 and manner of payment of said bonds
 FOR AMENDMENT NO. 1S. AGAINST AMENDMENT NO. 13. Be It Enacted by the People of tho State of Arkansas:
 That Section of Article 16 of the Constitution of the State of Arkansas be amended to read as follows:
 Article 16, Section 1, Neither the State, nor any city, county, town or | other municipality in this State shal.
 ever lend it's credit for any purpose ] whatever: nor shall any county. citY. 1 town or municipality ever issue any 1 interest-hearng evidence of indebted 1 ness, except such bonds as may De l authorized by law to provide for and | secure the payment of the indebted
 ness existing at thetime of the adop l ton of the Constitution of 1874, and the State shall never ssue any inter
 bearing treasury warrants or
 scrip
 ] Provided, that incorporated towns
 of 1000 or more population, as shown by the next preceding federal census.
 or by census taken for that purpose
 by the municipal authorities of said
 towns and cities of the first and sec
 ond class, may issue, by and with the
 consent of a majority of the qualified
 electors of said municipality voting or
 the question at an election held foi
 the purpose, bonds or other interest
 bearing evidences of indebtedness 1T
 sums and fol the purposes approved
 by such majority at such election, as
 follows, towit:
 For the funding or refunding of any
 eisting indebtedness incurred prior tc
 the adoption of this amendment; io'
 the acquisition of rights Of way fol
 and construction of public highways | streets, alleys and boulevards within | Np n Ii y,1 s.s1 pality; for the purchase. development
 and Improvement of parks. located | either within or without the corporate | limits of such municipality; for the | construction of sewers, for the puI- chase or construction oi city or town halls, auditoriums, prisons, libraries, hospitals. viaducts. bridges, or build ings for housing fire fighting appara- 1 tus: and for the purpose of acquiring 1 purchasing, extending, improving, en- larging, building or constructing of water works, or light and heat plants. As additional security in providius water works Or light and heat plants for cities and towns, d mortgage or other lien may be given by such mu- nicipalities on such water works or light and heat plants and the income thei eof and the franchise and other property connected therewi
 No bonds or other interest bearins evidences of indebtedness issued un- der the authority of this amendment shall bear a greater rate of interest than six per cent per annum, payable either annually or semi annually, and bonds issued by cities of the first class shall not be sold on basis of more than five per cent that is to say. the cost to the municipality for inter est and discount on each issue ul annum, and bonds issued by cities of the second class and Incorporated towns shall not be sold on basis of more than six per cent, and no bonds issued under the authority of this amendment shall ever be sold. except at public sale after twenty days ad- vertisement in some newspaper hav- ing boni fide circulation in the mu nicipaliN issuing said bone
 In order to provide for the payment of the bonds and other interest-bear- ing evidences of indebtedness issued under the provisions of this amend ment, and interest thereon, special tax, not to exceed five mills on the dollar, in addition to the rate now per mitted, may be levied by munieipali- ties on the taxable property therein and any municipality issuing any bonds or other interest-bearing evi denees of indebtedness shall, before or at the time of doing so, levy df rect tax payable annually not exceed ing the amount limited as above, sur