The Sentinel=record., 1918-09-07

at their respective maturities, no mu-
 nicipality shall have the power to
 make an issue of bonds or other in
 terest-bearing evidences of indebted ness, if said proposed issue itself, or together with all previous issues of bonds and other interest bearing evi- | dences of indebtedness then outstaud- ing by such municipality, shall aggre- gate as 10 a city of the first class
 more in amount than five per cent (5t), and as to incorporated towns and cities of the second class more il
 amount than seven per cent (7G) of the assessed valuation of all taxable property in the municipality proposing to issue the same according 10 the last general assessment next preced- ing said proposed issue of bonds or other interest bearing evidences o1 indebtedness.
 Said bonds and other interest-bear-| ing evidences of indebtedness shall he serial, maturing annually after three years from date of issue, and shall be paid off as they mature, an4 no bonds for the acquisition of rights 2f way for and the construction of public highways, streets, alleys orI Jouleyards issued under theauthorty of this amendment shall be issued foi a longer period than fifteen years, and no other bonds shall be issued forI a longer period than thirty-fiye years.
 No municipality shall ever grant financial aid toward the construction of railroads or other private enter prises operated by any person, firm or corporation, and no money raised 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. financial aid toward the construction of railroads or other private enter prises operated by any person, firm O. corporation, and no money raised un der the terms of this amendment byI taxation or by sale of bonds for soe- cihc purpose shall ever be used toi any other or different purpose.
 For each separate issue of bonds, a. proposed by any municipality, under the terms of this amendment, there shall be chosen three citizens as tax
 payers commissioners. These com missioners shall not be otherwise con- nected with the administration of the C. ,;ftt s.iHt n
 be chosen by the City Council or other governing body at thctime Of the pas sage of the ordinance calling an election for the purpose of voting up- on said particular issue of bonds The advertisement of such election ehal state the names of the propose1 com
 missioners for the information of the public.
 The taxpayers commissioners du ties shall oe to act in conjunction with
 the Mayor or any Board or Committee.
 now or hereafter provided by law, the same as if provision bad originally
 been mad for such Commissioners and said tax-payers' commissioner | together with said Mayor or Board or Committee, shall jointly exercise su- 1 pcrvision over the sale of any bonds
 which may be voted by the people at 1 such election, and shall jointly see to
 if that funds thus provided are prop | erly and economically expended for
 the purpose specified in the issue of bonds as voted by the 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-bearins evidences of indcnt- l adnoss are To be issued and if for more than one purpose, provision shall be made in said ordinance for ballot
 irg oa each separate purpose; which ordinance shall also state the sum to- tai of the issue. the dates of matur- | ity thereof, and shall fix the date Cf the election so that it shall not occur earlier than sixty (60) days after the passage of said ordinance Said cleo
 ton shall be held and conducted, and the vote thereon canyasscd, and the result thereof declared, under the law and in the manner now or hereafter provided for municipal elections. SO far as the same may be applicable, except as herein otherwise proyidou Notice of said election shall be given uy the Mayor by advertisements weekly for at least four times, in some newspaper published in said municipality, and having a bona fideI circulation therein; the last publica- ton to be not less than ten U0l day prior to the date of said election
 Qualified electors of said munici pality only shall have a right to vote at said elections. The result of said