The Sentinel=record., 1918-10-04
PROPOSED INIT
 PETlTlON.~ PROPOSED CONSTITUTIONAL AMENDMENT NO. f3.


 the Constitution of the State of Ark4 ansas, 1874. and providing that incor- porated towns of one thousand or more population, as shown by the next preceding Federal census, or by cen sus taken for that purpose by the ml- nicipal authorities of said town, ana cities of the first and second class may issue, by and with the consent of the qualified electors of said munl- cipality voting on the question at an election held for that purpose, bOnds or other interest-bearing evidences of indebtedness, and providing the means and manner of payment of said bonds
 FOR AMENDMENT NO. 13. AGAINST AMENDMENT NO IS.
 Be lt Enacted by the People of the
 Stale of Arkansas:
 That Section l of Article lG of the Constitution of tho State of Arkansas be amended to read as follows:
 Article l6, Section f. Neither the State, nor any city. county, town of other municipality in this State shaii ever lend it's credit for any purpose whatever; nor shall any county, city town or municipality ever issue any interest-bearng evidence of indebted ness, except such bonds as may be authorized by law to provide for ana secure the payment of the indebted ness existing at thetime of the adop- ton Of the Constitution of 1874, and the State shall never ssue any inter est-bearing treasury warrants oi scrip.
 Provided, that incorporated towns Of 1000 or more population, as shown 1 by tho next preceding federal census or by census taken for that purpose by the municipal authorities of said towns and cities of the first and sec i ond class may issue, by and with the consent of a majority of the qualified electors of said municipality voting oa the question at an election held for the purpose, bonds or other interest bearing evidences of indebtedness in sums and for the purposes approved by such majority at such election, as follows, towit:
 For the funding or rCfunding of any eisting indebtedness incurred prior to the adoption of this amendment; 10, the acquisition of rights of way for and construction of public highways streets, alleys and bouleyards within the corporate limits of such munici pality; for the purchase, development and improvement of parks, located either within or without the corporate limits of such municipality; for thu construction of sewers, for the pur- chase or construction Of, city or town halls, auditoriums, prisons, libraries hospitals, viaduct5, bridges, or build ing5 for housing fire fighting appara- tus; and for the purpose of acquiring, purchasing, extending, improving, en- larging, building or constructing ot water works, or light and heat plants. As additional security in proyidiu& water works or light and heat plants for cities and towns, mortgage or other lien may be given by such mu- nicipalities on such water works or light and heat plants and the income thereof and the franchise and other property connected therewit
 No bonds or other interest bearins evidences of indebtedness issued un- der the authority of this amendment shall bear a greater rate of interest than six per cent per annum, payable either annually or eemi-annually, and bonds is3ued by cities of the first class shall not be sold on a basis of more than five per cent; that is to say. the cost to the municipality for inter est and discount on each issue U bonds shall not exceed per cent per annum, ana bonds issued by cities ot 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 authority of this amendment shall ever be sold, eXcep' at public sale after twenty days ad- vertisement in some newspaper hay ing a boui fide circulation in the mu nicipality issuing said bone
 In order to provide for the payment of the bonds and other interest-bear- ing evidences of indebtedness issued under the provisions Of this amend ment. and interest thereon. a special tax, not to exceed five mills on the dollar, in addition to the rate now per mitted, may be levied by municipali- ties on the taxable property therein and any municipality issuing any bonds or other interest-bearing eyi dences of indebtedness shall, before or at the time of doing so, levy di rect tax payable annually not exceed ing the amount limited as above. sur ficient to pay the interest on such bonds or other interest-bearing eyi- .lnnnAa n inanhLndnees as Lhn sann