The Sentinel=record., 1918-08-29

| nicipaiity 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 evil l dences of indebtedness then outstand- ing by such municipality, shall aggre- | gate as to city of the first class
 more in amount than five per cent | (5f6), and as 10 incorporated towns
 and cities of the second class more in
 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 1 last general assessment next preced-
 ing said proposed issue of bonds or
 other interest bearing evidences of | indebtedness
 Said bonds and other interest-hear- ing evidences of indebtedness shall be serial maturing annually after three years from date of issue, and l shall be paid off as they mature. anb
 no bonds for the acquisition of rights of way for and the construction of public highways, streets. alleys or boulevards issued under theauthority of this amendment shall be issued rol
 longer period than fifteen years, and no other bonds shall be issued for
 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 be used for longer period than thirty five 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 un-
 Ger the terms of this amendment by taxation or by sale of bonds for a spe- cifc purpose shall ever be used TOT any other or different purpose.
 For each separate issue of bonds, a. proposed by any municipality; under the terms uf 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 tho affairs of said municipality, and shall be chosen by the City Council or other governing body at thetime 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 shal state the names of the proposed 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 had originally been mad for such Commissioners, and said taxpayers commissioner, together with said Mayor or Board orr Committee, shall jointly exercise su-
  which may be voted by the people at| such election, and shall jointly see to| it 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 toI 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| lnterest-beariug evidences of indeol- edness are to be issued, and if forl more than one purpose. provision shall be made in said ordinance for ballot irg on each se9arate purpose; which ordinance shall also state the sum to- tai of the issue, the dates of matW iy thereof, and shall fix the date Of the election so that it shall not occHr earlier than sixty (G0) days after the passage Of said ordinance. Said elec-  ton shall he held and conducted, and the vote thereon canvassed, and the 1 result thereof declared, under the law l and in the manner now or hereafter provided for municipal elections, so far as the same may be applicable, | except as herein otherwise provided. l Notice of said election shall De given | by the Mayor by advertisements weekly for at least four times, in some newspaper published in said ! and having bona fide 1 circulation therein; the last publica- tion to be not less than ten C0) days prior to the date of said election,
 Qualified electors of said munici- pality only shall have right to vote |