Pine Bluff daily graphic., 1919-01-19
TEXT OF AMENDMENTS
 Of BONDS AND BUDGET
Introduced in Arkansas Senate Per hitting Towns and Cities to Issue Bonds for Internal Improvement.

1 That the following is hereby pro- posed as an amendnIent to the con- stitution of the State of Arkansas, and the same being submitted to the cleo tors of the state for approval or re- jecaion at the next general election for senators and representatives, if majority of the electors voting at such election adopt such amendment, the same shall become part, of the constitution of the State of Arkansas, tc wit:
 1 Any county, city or town in this state may issues interest bearing evI- Gence of indebtedness sufficient to pay it's existing indebtedness as of June 30, 1921, provided that a major ity of those voting on such question when submitted as may be provided by lav; that vote for such issue. Pro- vided, that the question may be sub- nlittcd any time within five years from the date of the adoption of this amendment. Any county, city or town voting to issue bonds as provided above is hereby authorized to levy a tax rot to exceed 1-5 of 1 per cent G nli!ls) on the dollar, on the taxable property of the county, city or town, for the purpose of creating special sinking fund.- for the payment of n- tesest and the retirement of the bonds or rotes. Provided that no bond shall 1 be issued to draw interest at great CT rate than 6 per cent, none shall run 1 longo: than 20 years and that they shall be issued so that they may be paid serially and sold for not less than par.
 ~Beginning July 1, 1921, no county, ] city or town may appropriate or eX- pend during any fiscal year more than the revenue for such year and the credit balance available nor shall any county, city or town create or in- cur any indebtedness for ordinary op- erating expenses. Any such indebt- edness created or incurred shall be forever void.
 1 "The state comptroller, or such oth- e" officer or department as may be de- sigrated by law, shall procure from each and every offive, department and institution of the State of Arkansas, at least 30 days prior to the convening Of each regular session of the legisla- ture, an estimate of their respective needs for each of the two succeeding fiscal years and also an estimate of all receipts from whatsoever source and shall prepare proposed budget tharefrom which shall be presented, with such recommendations as he cares to make, to the House of Rep- resentatives on or before the fifth day of its session. There shall be pre- sentcd, at the same time and in con- nection with the proposed budget a detailed classified statement of the expenditures of all offices, depart ments and institutions of this State of sll appropriations made for the two preceding fiscal years.
 Provides for Budget System.
 "The1e shall be appointed by the speaker of the house budget com miv.ee which shall serve in conjunc-
 ion with the budget committee to be appointed by the president of the sen- ate and said committees shall be known as the Joint Budget Commit tee.' The speaker of the house shall refer the proposed budget and the detailed classified statement of ex- ,'enditu1e 1es' to said committee and they shall prepare and cause to be in- troduced in the House of Representa- tives, on or before the thirtieth day of the session, all appropriations bills and there shall be prepared and intro duced separate bill for each fund and but one bill for each fund. The committee shall careful examine the estimates of revenues receivable for credit to each fund and no greater amount in the aggregate than the to- tai estimated revenues shell be in- Icluded in said appropriation bills. The Legislature may add any item or items to any appropriation bill and may in crease or strike out any item or items of any bill as introduced but the total amount appropriated by any bill shall not exceed, in the aggregate the total of such bill as introduced. The total sought to be appropriated by any bill and the. total estimated revenue for credit to the fund from which the ap- propriation is sought shell be speci- fled in section one of the bill.
 "All laws enacted creating or es- tablishing any office, department or institution, after the passage of the bill making appropriations from the fund by which such office, department or institution is to be supported and
 maintained, shall contain an appro-
 priation sufficient to meet the re- quirements of such office, department or institution for the two succeeding , fiscal years and shall also provide for 2 sufficient additional revenue to car for the amount appropriated. Pro
 vided, however, that should the total of the estimates of revenue receivable ' for credit to such fund exceed the amount already appropriated to be payable from such fund or an amount equal to or greater than the amount ! appropriated for the support and | maintenance of the newly created off, l flee, department or institution, no pro- ] wilson need be made for additional rev l enue. The operating of any office, de- partment or institution created or es- ,t tablished contrary to the above pro-