The Sentinel=record., 1918-07-11
TAXATION TAKEN UP
BY CONVENTION
CONTINUED PROM PAGE l.

inheritance taxes, graduated legacy
and succession taxes: also stamp,
registration, production or other spe-
citic taxes; provided, that the follow
ing property shall be exempt from
taxation: the bonds of the state OF
Arkansas or Of amy county munich
pality or Improvement district within
said state; public property actually
used exclusively for public purposes (;
churches used as such; cemeteries
used exclusively as such; school
buildings and apparatus; libraries and
grounds used exclusively for scnool
purposes and buildings and grounds
and materials used exclusively for
public charity
Sec. 5. No property tax for state
he assessed against any corporation
upon the value of its capital stock, or
the value of the shares of its capital
stock, that is represented by tangible
property within or without the state
provided that nothing herein contain
ed shall be SO construed as to eX-
empt from taxation any of the tangi
BILE property of such corporation IN
this state nor to exempt from taxa
ton any tangible property of such
CORPORATION.
Sec. g. All laws exemptng prop
erty from taxation, other than as pro
vided in this Constitution. shall be
void
Sec. Z The power to tax corpora =
tons and corporate property shall not
ae surrendered or suspended 10y any
contract or grant to which the state
may .e party.
"Sec. s The general assembly shall
rot have power to levy state taxes for
any one year to exceed the aggregate
one per cent OF the assessed valuation
nj the property of the state for that
wear; provided, in the event the legis
iative power OF the state hereafter
segregates property to Ge solely taxed
for state purposes. the rate of taxation
thereon for STATE purposes shall not
exceed such amount as viii produce 4
revenue greater than one per cent oil
the total assessed valuation of all the
taxabale property within the state as
assessed for both state and county
purposes.
Sec. .. No county shall lew TIA,
To exceed one-half of one per cent TO
all purposes; provided, in the even
that the legislative power of the stat,
hereafter segregates property to b
solely taxed for state purposes shall
not exceed such an amount as will
produce one half OF one per cent o
the total assessed valuation of all tn.
taxaGle property within the county a,
| assessed for beth state and count,
purposes provided. further, am
county may levy an additional one.
half per cent to pay Indebtedness ex-
listing at the time of the ratification
of the constitution
SEC TO- No municipal corporation
shall levy tax in any one year to ex,
coed one-half of one per cent for all
purposes; provided, in the event thai
Iihe legislative power of the stat,
hereafter segregates property TO be
solely taxed for state purposes, tn,
rate of taxation for municipal pur-
poses shall not exceed such an
amount as will produce one half OF
% Al
valuation of all tho taxable property
within the corporation as assessed foi
Joth state and county purposes pro-
vided further, that any municipal cor
poration may levy au additional one
half of one per cent to pay Indebted
ness existing at the time or the rati-
fication of this constitution
Sec 1.-THE general assembly
shall provide by general laws for thu
support of common schools by taxes
which shall never exceed in any one
year three mills on the dollar ON the
taxable property of the state, and by
an annuel per capita tax of one dol
lar, to lie assessed on every male IN
habitant of this state over the age
of u years Provided, the genera
assembly may, by general law, au-
thorize school districts to levy by a
vote of the qualified electors of such
district tax not to exceed ~ mills
ON the dollar in any one year. fol-
school purposes: provided further
that no such tax shall be appropriated
to any other purpose nor to any other
district than that for which II was
levied.
Sec IL. The county courts of the
state In their respective counties, to-
gcther with a majority of the justices
OF the peace of such county, in addi-
sion to the amount of county tax al
lowed to be levied, shall have tbs
power to levy not exceeding three
mills on the dollar on all taxable
property of their county, which shall
be known as the county and road tax
and when collected shall be used ia
the respective counties for the pur-
pose of making and repairing public
roads and bridges of the respective
counties and for no other purpose, and
shall be collected in United States