The Sentinel=record., 1918-10-08


 terest- bearing evidences of indebted
 ness, if said proposed issue itself, or
 together with all previous issues ol bonds and other interest bearing evil dences of indebtedness then outstand- Ing by such municipality, shall aggre- gate as 10 a city of the first class more in amount than five per cent | (5G), and as to incorporated towns and cities of the second class more il amount than seven per cent (7ec} oi 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 of indebtedness.
 Said bonds and other Interest-beaT- ing evidences of indebtedness shall be serial, maturing annually after three years from date of issue, and shall be paid off as they mature, an. no bonds for the acquisition of rights of way for and the construction of public highways, streets, alleys ol boulevards issued under theauth0rity | of this amendment shall be issued fol a longer period than fifteen years, and no other bonds shall be issued for a longer period than thlrty-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 specilic purpose shall ever be used for a longer period than thirty five years.
 No municipality shall ever gran. 1 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 by taxation or by sale Of bonds for spe ciiic purpose shall ever be used for 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 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 or. Committee, shall jointly exercise SUI perVisiOn over the sale of any bonds which may be voted by the people al such election, and shall jointly see toI 1t that funds thus provided are prop erly and economically expended fOrI the purpose specified in the issue off bonds as voted by the people, and ,o| 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 otherl interest-bearing evidences of indeot- edness are 10 be issued, and if for more than one purpose. provision shall be made in said ordinance for ballot ing on each separate purpose; which ordinance shall also state the sum to- tai of the issue, the dates of matur- fly thereof, and shall fix the date of the election so that it shall not oCclrl earlier than sixty (60 days after the passage of said ordinance. Said cleo ton shall be held and conducted, and the vote thereon canyassed, and the result thereof declared, under the law and in the manner now or hereaterI provided for municipal elections, sol far as the same may De applicable | except as herein otherwise provided Notice of said election shall be given by the Mayor by advertisements 1 weekly for at least four times, inl some newspaper published in said municipality, and having a bona fide circulation therein; the last publca- ton 10 be not less than ten Q0) days prior 10 the date of said election.
 Qualified electors of said munich pality only shall have a right to vote at said elections. The result of sailI election shall be proclaimed and pup lshed by the Mayor and the result as proclaimed shall be conclusive unless attacked in the courts within thirty (GO) days after the date of such pro clamation.
 This amendment shall not repeal orl affect any law relating to the organ