The Mena weekly star., 1918-08-15

iority nt such election. as follows. to-
 For the funding or refundlne c~ ,rv existing indebtedness incurred prior to tNe af-ptton af this amencnent. for me acquisition of rights of way for ana construction of public hiwhways
 streets alleys or houlevard4 within inc corporate iimita Of such municipal fstv. for the purchase, development and irn- proNement ot parks. located either
 within or wieaout the corporate limits
 or such municipality, for the consttuc-
 [ 'on or sewers, for the purchase or
 sites for, or for the purcuese or con
 struction of. city or town halls audi
 toriums, prisons, libraries hospitals viaducts, bridres. or buildings for houa- Ing Ire lighting apparatus end for the purpose Of acquiring. purchasing, ex- tending, improving, tnlargtne building
 or conatructirg of water werks or ! light and heat plants Az additional security in providing water works or light and heat plants Tor cft1es and ! towns, g mArteege or other lien may ! be given by such munici ities on
 such water works or light md heat ! plants and the Income therecf and the | frarh hise and ether property connect
 No bonds or other interesi bearing evidences Of indebtedness ieseed under | the authority or this amend nt shall l bear greater rate or interst than six | per cnt per anuum. nayahle either an | nuaiiy or semi-annns lir. md bonds is-
 sued by cities Of tho first class shall not | be sold on a basis Of more q an Ave per 1 cent; that is to say. the cost co the municipality for Interest and discount on each issue of bonds shall not exceed 6 per cent per annum and bonds Is sued by lies of the second class and
 incorporated towns shall not be sold on a basis of more than six per cent and no bonds issued under the author ity of this amendment shall ever be sold except at public sale after twenty days advertisement in some newspaper ! t.. .N .f.a faf tA.n Ga, NAm mt icipalty issuing said bonds.
 In order to provide for the payment of the bonds and other interest bearing
 evidences of indebtedness Issued under the proVisionR of this amendmnt and
 interest thereon. special tax. not 10 exceed Ave mills on the dollar Tn ad- l dition to the rate now permitted may ! be levied hv municipalities on the tax | able property therein; and any muntc- | ipauty issuing any bonds or other h. terest- bearing evidences of indebted | ness shall before or Rt the time ot | dotng SO. levy direct tax payable an | nualiy not exceeding the amount lirn- | ited as above. sufficient Co pay the in- l terest on such bonds or other interest
 bearing evidences of indebtedness as | the same natures. and also sufficient l to pay and discharge the principal Of | all such bonds or other interest-hear- | ing evidences of indebtedness at their | respective maturitiesi provided. that ! tue above limitation Of the rave or tax | nffNn fNNff not hppAN ID hANNe iAhNFA | by any municipality for the purpose of 1 ecauirinr purchasing. extcndiuH in proving, cnlafginR, building or eon- { structing water WCrks and lilht ana ! heet plants. but the lew Qf tae spe- ' cfal iav of Ave mills authorized by this ! amendment haXinN been exhausted nf thc nniance unieviud heiug iuaufflcltlis ] to paN Interest on and retire the pro. ' naacd h1ndq said munielnatNN Tor tne
 purpose of nayinS the nrnnlNHl Ard ' fntnrcet 1f Hfrh water work and liGHf and hfht plant bonds mtY. 70 Tar Ns required. levy and collect a special ieSi ! in addition to the rate allowed 1v this ! amendment of not 10 eNreed iiNe mliis ! on the dollar provided alao, thnt as further and additional limitation upon l both fho Issuance of bonds or otser 1 interest-hca rina evidences of indebted | ness and the levy Of special tax 70 | pay interest thereon aud retire tho | same at their respective maturities, no | municipality shall have the power tr
 make an issue of bonds or other ID 2 l tarest- bearing evidences of indehted '
 meas. if said proposed Issue .itFeh of | together with all previous issues ot
 bonds and other interest bearing evil | dences of indebt ednesa then outstAnd- | ing by such municipality, shall a&gre- | gate as to a city of the first class
 more In amount than i've per cent (5cs) and aS to incorporated towns
 and alties of the second class more n amount than seven per cent tI%) oi } the assessed valuation Of all taxable ! nroperty in the municipality proposinf {. 10 issue the same, according to the las ! general assessment next preceding sat- n | proposed issue Of bonds or other Inter '. est bearing evidences of indebtedness Said bonds and other interest bearing e evidences of Indebtedness shall be se rial maturing annually after thre' vca from date of issue, and shall b'
 Nsia off Rs they mature. and no bondi for inc acdufsition Of rights of way foi
 and the constipation pi pnplc hiRh' ways. streets alleys of bonleverds is- l pued under the shortly ef thlS amend ment shall be Issued for longer pe- rIod than nfteeu years. aud no oth es bonds shall he issued fof longer pe-
 riod than thirty five years
 No municipality shall ever grant
 financial aid toward the construction pf rnflrpads or other privAtn HptetpFirss
 ope ted AN any person, Hfin or eorpo-
 faitp3N and no money raised under he
 pinvisious of tnis amendment by tax
 atinn or by sale of bond for specific
 purpose shall ever be used for any
 other or different purpore.
 For each separate issue Of bonds, as
 proposed by any municipality under
 the terms of this rgdnlent there
 shall be chosen three eilixers as tax
 payers commissioners These c6nmis-
 sioper shall not be otherwise c"unect-
 cd with the admtniStfii lion Of fhe 1f-
 fairs of said fnunicipaifN aud sa 3s
 choaen by the city Council or llhAr
 govcrntng body at the tifne of the pas ! rehN uf the oFdiunift FHiifhH m "lec-
 ton for tho purpose of voting upon
 said particular tssue of bonds The
 advertisement of such election shall
 state the names of the proposed com-
 rui-sionefs for the ihf@fiintiol of the
 public.
 The taxpayers commissioners duties
 shall be to act in conjunction with the iayor or any Board or Cemsaiitec now
 f hereafter provided ty law the same
 if provision had reiginSlly been
 tadr for such sf'ns1i ieNsIs and ea \
 tAx-payers ea sioners. together
 ith said tFh sat or Board or Commit
 tee. shall Joih l9 exercise supervisien a
 over the sale or any bonds which may
 be voted by the people at such siectioH.
 and shall Jointly see to it that funas thus provided are properly and eco
 nomicsly expended for ths purpose
 specified in the Issue of bonds as voted
 by the people. and to that end shall
 jointly make all contracts for the ex~
 penditure of the proceeds 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 in-
 terest- bearing evidences os indc cbtedness
 are to be issued. and if for more than
 one purpose. provision shall be made
 in said ordinance for bHiiotinK on each
 scaarate purpose waich ordinance
 shall also state the sum total Of tho
 issue, the dates of maturity thereof.
 and shall dx the date of the election
 60 that if shall not occur earlier than
 sixty ts0t days after the passage Of
 ssid ordinances Snid election phatl be ! held and conducted and the tote there