The courier-index., 1918-09-13
.osrp Bv xMyTxAT1v9 rHoPn PETITION. vsoPosEp C1MNo .sGWT NO, Ia.

PROPOSED En,1rog. nr
 orosrp CoNsTITUT,.oNA
 vSoAMENDMENT MO- H.
 s.e,ion 1 of Article ts Of
 nsndink ston of the State Of Ar
 consrH and providing that incor-
 sss. is of one thousand or more
 stsd to~ shown by the next pre-
 plauo1 census, or by census tax
 6ng ist purpose by the munlcipai
 fof as of said town, and cltles oi .ns
 oS second class may issue, " th.
 ap .h. consent of a maJor,ry o;na 1;fv
 Iifed .hs question at an election Iing on nurpose. bonds or other
 for rtns evidences of indebted,
 ersst-p rroviding the means ana
 ane ayment of said bonds.
 pneI v, AMENDMENT NO. 1s.
 fVl,cT fVnc AMENDMENT NO. 1S.
 .o,ed by the People of the s,sts of Arkansas: .
 s.ction l of Article is oa sns
 nss,tution of the state s. Q,
 psn.uAsd to read as follows:
 amenae,s section 1. Neither the Article snv city, county, town or
 ts nor ,atnslity in this State shall
 CT its credit for any purpose er lena shau any county, city.
 atever' ',ntcipality ever issue any Fn or arinp evidences of indebted
 erest,,t ,uch bonds as may De au-
 hy law to provide for ana se-
 rssu nayment of the indebtedness
 of the time of the aooption constitution Of lSI4, ano e
 shall never issue any in.e,e
 trsasury warrants or scrip.
 erins sd that incorporated towns Of PIovus,,,o wore population, as shown py
 CT nreceding federal census, or neA. taken for that purpose py
 censtc,naI authorities of said towns m'.tns nun pS the first and second class, cnv hv and with the consent or
 ssu~ of the qualified electors or
 9onU,n,cipality voting on the Ques-
 sn election held for the pur-
 sonds or other tnterest-p pearths
 ..css of indebtednss in sums ana
 shs purposes approved py sucn ma .,tv at such election. As ioiio"s'
 .h. funding or refunding of any ". Indebtedness incurred prior to ISaontion of this amendment; TOT
 sopi.ition of rights of way for
 orstruction of public highways,
 ailevs or boulevards within the
 .t. limits of such municipality;
 pphs nurchase. development and i'm .s.ment of parks. located either .sh,r or without the corporate limits
 .ncb municipality; for the construc- .n of sewers; for the purchase or sss for, or for the purcnase or con
 .,;or io of city or town halls. audi
 smms prisons, libraries, hospitals.
 H.cts bridges. or buildings for hous-
 Nre nrhting apparatus: and for the ,,Sose of acquiring. purchasing, ex- .r5,nr. improving. enlarging. building
 of water works, or .At and heat plants. As additional ssu,,ty in providing water works or k~hf and heat plants for cities ana Evns a mortgage or other lien may 1 riyen by such municipalities on Esh water works or light ana neat {snts and the income thereof, ana the .snchise and other property connect k therwith.
 kiS.nces of indebtedness issued under ks autiority of this amendment shall Sssr | greater. rate of interst than six See cst per annum, payable either an- knlllv ar Semi annually, and bonds is- ksA1 by cities of the first clsss shall not [. soi on a basis of more than five per Ssst: that Is to say. the cost to the Sunicipal.ty for interest and discount 1 each issue of bonds shall not exceed pef cent per annum. and bonds is- Sued by cities of the second class ano Hectporated towns shall not be sold H a basis of more than six per cent, R,A no bonds issued under. the author ky q this amendment shall ever be SoM except at public sale after twenty Mi advertiseme ent in some newspaper kayine q bona fide circulation in the krnjcipality issuing said bonds.
 in order to provide for the payment k the bonds and other interest- bearing Svidencee of Indebtedness issued under ke provisions of this amendmnt. ana |ntefest thereon, . special tax. not te bxceed five mills on the dollar. in ad- 1itlon to the rate now permitted, may V levied by municipalities on the tax Able property therein; and any munic- Dpality issuing any bonds or other in- lsfest- bearing evidences of indebted hesa shall. before or at the time of 1oing 90, levy 6 direct tax payable an hually not exceeding the amount Him. )tsd as above, sufficient to pay the fn- herest on such bonds or other interest bsaring evidences of indebtedness as he same natures, and also sufficient D pay and discharge the principal Of eu such bonds or other interest-bear- IAg evidences of indebtedness at their
 
 lhe above limitation of the rave of tax ntion shall not apply to bonds issued ey any municipality for the purpose of AcQuiring, purchasing, extending. i'm. proving. enlafging, building or con ptructing water works and light and Aeat plants, but the levy of the spe- sal tax of five mills authorized by this amendment having been exhausted or ths balance unlevied being insufficient 10 pay interest on and retire the pro- posed bonds. said municipality, for the purpose of paying the principal and interest of such water works and light and heat plant bonds. may. so far as required, levy and collect special tax, ln addition to the rate allowed by this amendment of not to exceed i've mills en the dollar; provided also, that, as . further and additional limitation upon soh the issuance of bonds or oth CT interest bearing evidences of indebted Asss and the levy of special tax to py interest thereon and retire the .ame at their respective maturities. no shall have the power to MaKe an issue of bonds or other fn- evidences of indebted .sss, II said proposed issue itself. or .sogether with all previous issues of 1onds and other interest bearing evil usnces '1 Of Indebtedness then outstand- 'ue oy such municipality, shall aggre- sa.e as to q city of the first class more more In amount than five per cent VIZ, and as to incorporated towns .aa cities of the second class more in ,hunt ,ha than seven per cent (796) of sse ss assessed valuation of all taxable ,t,Vperty ,a In the municipality proposing vsn issue me same, according to the last S.aefal e, assessment next preceding said .ss Issue of bonds or other inter- sa, evidences of indebtedness. ,vtsa aau oonos and other interest. bearing