The Prescott daily news., 1918-08-21
PROPOSED BY INITIATIVE
 PETITION. PROPOSED CONSTITUTIONAL AMENDMENT NO. I3


 Amending Section of Article 16 of the Constitution of the State of Ar kansas, 1874, and providing that in- corporated 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 municipal authorities of said town. and cities of the first and second class may issue, by and with the consent of majority of the qualified electors of sad municipality voting on the ques- tion at an election held for that pur- pose, bonds or other interest bearino evidences of indebtedness. and prov.d. ing the means and manner of paymen; of said bonds.
 FOR AMENDMENT NO. 13.
 AGAINST AMENDMENT NO. 13 Be It Enacted by the People of the
 State of Arkansas:
 That Section l of Article 16 of the Constitution of the State of Arkansas be amended to read as follows:
 Article Is, Section 1. Neither the State nor any city, county, town or other municipality in this State shall ever lend its credit for any purpose whatever; nor shall any county, city, town or municipality ever issue any interest-bearng evidences of indebt- edness, except such bonds as may be authorized by law to provide for and secure the payment of the indebted ness existing at the time of the adop- tion of the Constitution of 1874, and the State shall never issue any inter- est bearing treasury warrants or scrip.
 Provided, that incorporated towns of ,OOO 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 majority of the qualified electors of said municipality voting on the question at an election held for the purpose, bonds or other interest bearing evidences of indebtedness in sums and for the purposes approved by such majority at such election, as follows, to-wit:
 For the funding or refunding of any existing indebtedness incurred prior to the adoption of this amendment; for the acquisition of rights of way for and constructino of public high ways, streets, alleys or boulevards within the corporate limits of such municipality; for the purchase, de- velopment and improvement of parks, located either within or without the corporate limits of such municipality for the construction of sewers; for the purchase of sites for, or for the purchase or construction of, city or town halls, auditoriums, prisons, li- braries, hospitals, viaducts, bridges or buildings for housing fire fighting apparatus; and for the purpose of ac- quiring, purchasing, extending, im- proving, enlarging, building or con- structing of water works, or light and heat plants. As additional security in providing water works or light and heat plants for cities and towns, a mortgage or other lien may be given by such municipalities on such water works or light and heat plants and the income thereof, and the franchise and other property connected there with.
 No bonds or other interest bearing evidences of indebtedness issued un- der the authority of this amendment shall bear 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 interest and discount on each issue of bonds shall not exceed per cent per an mum, 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 hay