The courier-index. (Marianna, Ark.) 1917-current, 1918-09-06
.wn nv TrTTTATTvm
yhoroP PETITION.
,osEp CONsTITUT!.ONAA
H0POenEpMENT NO. IL

AMENDmEN
..,an 1 of Article is OF
ending a., ~ the Etate OF Ar
copstitu va providing that ineor-
y, ISIS. ~ one thousand or more
I'd tewns .hown by the next pre-
jstion census, or by census TAX
q Teoer, ,rnose by the municipai
q thai paid town, and cities OF tns
psities OF class may issue, by ano
snd sessnt Of a majority OF Ine
the con of said municipality
fed ei w. question at an eiecuon
Is on purpose, bonds or otnSr
for ling evidences OF lnoep.eua
sst-Ds nroviding the means @~
sns nayment of said ponos'
sf =, rAMENDMENT NO. Is.
F0 SsT AMENDMENT NO. IL.
cAN by the People of the
- of Article 16 OF the
st sectiof the State Of Arkansas
ttutioa 20 read as follows:
nendeI section /. Neither the
tcle ~, W city, county, town or
nor ,atnality in this state snaiI
num- az credit for any purpose
lena - shall any county, city.
sger, nnvn;cipality ever issue any
or mum evidences of indebted
Fesl-uo. such bonds as may De au-
exeep' ,,w to provide for ana Sc
1sed py ,,ant of the indebtedness
the 80 time of the adoption
kins a. .titution of 1874, and the
he I'll lever issue any interest
shan surv warrants or SCRIP.
Ping that incorporated towns or
toWoeu incubation, as shown py
OF n,v receding federal census, or
neAe p+aken for that purpose py
rensuus, authorities of said towns
nun.pf the first and second class
ciuss nv and with the consent OF q
issu' ~ the qualified electors or
PIN n,cipality voting on the dues
an election held for the pur-
nsands or other Understanding
80 Of indebtedness IN sums anu
~ AZ. purposes approved by socn ma
II such election. as rolio"s' 70
~. funding or refunding or any
ang Indebtedness incurred prior 70
sdoption Of this Amendment, .or
.ecpisition of rights or way TOT
cohs ,,avs. or boulevards within the
es, ah i;rcits of such municipality;
o u. purchase, development and Inn
mai Of parks, located either
without the corporate limits
OK rrunicipality; for the construc-
WV ~ sewers: for the purchase or
yor or for the purchase or con-
a,,ion Of city or town halls, auo1-
prisons. libraries, hospitals,
1 u bridges, or buildings for nous
srs fgbting apparatus: and Tor the
nse az acquiring, purchasing, ex-
En- improving. charging, puiloing
.sn.tructing of water works, or
md heat plants. Az additional
f,r,tv IN providing water works or
and heat plants for cities ana
mortgage or other lien may
~,vsn by such municipalities on
water works or light and heat
IT. and the income thereof, and the
IrcS,se and other property connect
|therwith.
N bonds or other interest bearing
'Asrces of Indebtedness issued under
authority of this amendment shall
a greater rate OF interest than six
ant Der annum, payable either an
I,iy or seni-annually, and bonds Is
Il by cities of the first class shall not
4 sold on a basis of more than five per
ht that Is to say, the cost TO the
Snicipality for interest and discount
each issue of bonds shall not exceed
ber cent per annum. and bonds is.
ID BY cities OF the second class ana
korporated towns shall not De sofa
/ "A basis of more than six per cent.
u no bonds issued under the autnor-
az this amendment shall ever be
IA except at public sale after twenty
M Advertisement in some newspaper
Wing bona f1de circulation In the
hniclpallty Issuing said bonds.
n order to provide for the payment
the bonds and other interest bearing
bdences Of Indebtedness issued under
4 provisions of this amendmnt, ana
ksrest thereon, q special tax, not to
|ceed Ave mills on the dollar, in ad-
hon to the rate now permitted, may
levied by municipalities on the tax
lie property therein; and any munic-
slity issuing any bonds or other In
rest bearing evidences OF indebted
|s shall, before or at the time OF
Ing So levy direct tax payable an
|ally not exceeding the amount linn
IA as above, sufficient to pay the In
rest on such bonds or other interest
airing evidences of Indebtedness as
L same natures, and also sufficient
pay and discharge the principal OF
such bonds or other interest-bear-
6 evidences of Indebtedness at their
epective maturities; provided, that
L above limitation OF the RATE of tax
ion shall not apply to bonds issued
any municipality for the purpose OF
quiring, purchasing. extending, Inn
owing. charging. building or con-
ructing water works and light and
at plants. but the levy of the spe-
d tax Of Ave mills authorized by this
nendment having been exhausted or
. balance unlevied being insufficient
pay interest on and retire the pro-
'sed bonds said municipality, for the
lrpose Of paying the principal and
tsrest of such water works and light
ID heat plant bonds. may, so far as
Qulred, levy and collect a special tax
addition to the rate allowed by this
nendment. of not to exceed Ave mills
the dollar: provided also, that, as q
rther and additional limitation upon
'm the Issuance OF bonds or 9th Ell
est-bearing evidences of indebted
ss and the levy of a special tax to
Y interest thereon and retire ths
me Al their respective maturities. no
uunleipality shall have the power ia
axe an Issue of bonds or other in
rest bearing evidences OF indebted
81, II said proposed issue itself. OF
sether with all previous issues OF
mas and other interest-bearing evil
nces OF Indebtedness then outstand-
: py such municipality, shall aggre-
Ae as to a city of the first class
Vle In amount than five per cent
~ and as to Incorporated towns
y elties OF the second class more In
' ! than seven per cent (7%) OF
J assessed valuation of all taxable
vpsrly In the municipality proposing
issue ISSUE the same, according to the last
ona assessment next preceding said
,yyussa Issue of bonds or other inter-
ss.ao,esaring evidences of Indebtedness
iSa ponds and other interest. bearing
I, ,,Iehces OF Indebtedness shall be Sc
a.. maturing annually after three
a rom date of issue. and shall be
! on as they mature. and no bonds
4 s ~ ACQUISITION OF rights of way fol