The Lexington intelligencer. [volume] (Lexington, Mo.) 1901-1949, 1920-10-22

JOINT AND CONCURRENT
tIVS providing for the amendment Of
article 10 OF the Constitution Of the
state OF Missouri by striking out sec
ton u thereof, and adding 4 new geo
lion IN lieu thereof, to be known as
secllon " Thereof. relating to tho lin
OF indebtedness OF counties. cities
towns, townships, school districts and
divisions. ~ SUI
Re it resolved by the Senate. the House
OF representatives ~concurring therein
Inat e the general election 10 be held
on Tuesday next olowing the Hrst NJ
day IN November, "A. d 1920 thara sSaII
ne submitted for adoption or rejection ~
tne qualihed voters Of the state az Ma
s00uri me repeal Of section ~ Of article
adoption OF the following new sectjon in
iieu thereof, to be known as section 10
tnereot, relating to the limit OF lndebted-
schao % Gohnties, cities, towns. townships.
porations and subdivisions:
Section IL. M county. city town
township, school district or other political
corporation or subdivision Of the qiafe
snail De allowed to become Indebted IN
y mann, nnfS nnxe - or any purpose 10 an
ana revenue provided for such wear, with
out the consent OF two-thirds OF the yot-
ers thereot voting on such proposition
~ an erection TO be held for that purpose;
nor m cases requiring such assent shall
any Indebtedness be allowed Ia he In
gusteu 70 an amount including existtns
indebtedness, Ia the aggregate exceedinS
ny per centufn on the value OF the tax
dOle property therein, to be asceTtpinsd
by the assessenen next before the last
assessment FOR state and county purnoaes
previous to the mourning of such in
ueDteuness, except that cities having a
population OF Seyenty-hye Thousand I'm
hapltants or more may, with the assent
OF twO-thirds of the voters thereof vot
ing on such proposition at an election IN
Pc ned Tor hat purpose, incur an in
on the value of the taxable pronertv
therein, to be ascertained by the assess.
ment next before the last assessment for
STATE and county purposes previous TO
the mourning of such Indebtedness. spcb
proposition may be submitted al anv
ELECTION, general or special; provided that
with such assent any county NAV he All
lowed to become Indebted to 4 larger
amount for the erection OF courthousa or
Jail. or for the grading. construotion
paving, or maintaing Of paved, graveled,
macadamized or rock roads and necesl
sary bridges and culverts, therein; and
provided further. that any county. CITY
town, township, school district or other
poiltical corpora tion or subdivision OF the
state. mourning any indebtedness reouir-
ing the assent OF the voters as aforesaid.
shall before or at the time OF doing sol
provide for the collection OF an annual
TAX sunicient to pay the interest on such
Indebtedness as IL falls due, and also 10
constitute a sinking fund for the pay
ment OF the principal thereof within
twenty years from the time OF contract
ing the same; and provided further that
me corporate authorities OF the CITY M
~. Louis are hereby authorized to issue
interest bearing bonds OF said citv in
the amount OF five million dollars At 4
rate OF interest not 10 exceed four per
cent per annum. the principal PAYABLE
WITHIN thirty years from the date OF their
ISSUE, and the proceeds thereof shall no
paid to the corporation organized for the
celebration Of the Louisiana purchaga
centennial IN said city, to be used by said
corporation for said celebration. holding
worlds fair or exposition in said city.
ana SAID corporate authorities Of st.
Louis shall be repaid as large a propor-
Tomato amount of the aid given by them
as shal be repaid to the stockholders OF
sAlu corporation on the sum subscribed
ana paid by them, and any surplus re-
manning from the assets OF said corpora
tlon after said stockholders and said city
snall nave been paid In full, shall be
divided. between said stockholders and
saiu CITY IN proportion to the aggregate
amount Of said stock so paid In and the
amount so loaned by said city: and any
amount 50 received by said city from
SAID corporation shah be paid Into the
H AAAA VI zniu ClNN lot the fH0Amna |
ton Of It's out standing bonds. Provided
that II, AZ the election for the sdoption
81 this amendment to the Constitution. a
majority, OF the votes cast within the linz
its OF said city OF st. Louis voting Tor and
against this amendment shall be aKainst
us adoption, then no bonds shall be Is
sued under this amendment: and proyid-
ed further, that no such Indebtedness so
created shall be In any part thereof paid
by the state or from any state revenue
tax or fund. but the same shall be paid |
by the city Of st. Louis alone: Provided.
that In the city OF ST. Louis the amount
OF ooqas now aggregating sill. geo, that
being the amount assumed by said city
In the scheme of separation from the
county OF 81. Louis. and tho sum Of is
$3.50 0 heretofore prior TO January l.
lyvi expended IN the construction OF
any bonds which may be hereafter issued
by said city In the construction and inn
provement OF Waterworks. the payment
OF the interest wherein and the principal
whereof shall be provided from the rev.
enue OF said waterworks; that Is to say.
the amount OF SAID bonds which shall be
outstanding. at the time shall not be In
cluded IN the computation Of the exist
ing bonded Indebtedness In determininR
amount OF bonds authorized to be
issued by said city with the assent OF
two-tkirds OF the voters under the proyis-
IONS OF this article, but said city shall
be authorized AZ any time TO Issue bonds.
with the assent aforesaid. to an amount.
Including outsta nding Indebtedness. other
than That above named, to the amount
OF ten per cent OF the value OF the tax-
able property I n said city, 10 be ascer-
tsined as above provided. and eaid city
shall have power, with such assent Of the
voters, 70 Issue bonds for the construc-
ton and improvement OF waterworks. the
interest whereon n the principal where
Of shall be provided for from the income
OF said w~aterwOrks, Said city shall es-
tablish a sinking fund for the payment o.
the bonds so authorized according 70
the times liked Tor the maturity 81 the
same; Provided further, hat any city
which now has or MAJ hereafter attain
a population or s~evonty-dve thousand or
more Inhabitants may acquire by pur-
condemnation or construction
w~aterWorks, gaeworka. electric light
works, street railways, telegraph and
telephone syateme, heating plants. ice or
refrigeration plants. or any other plant
system or public service Institution, with.
In or outside OF the limits OF such city.
for. the use o. the city or IT'S citizens.
and Il. the purpose OF paying therefor.
n whole o. IN part. may issue public utii-
tiles bonds, which public utilities bonds
b not be included n the liabilities or
indobtednese OF the city limited by the
prior provisions Of this section: but the
total amount or such public utilities
bonds 20 be issued by such city shall
not exceed twenty per centum OF the
value Or the taxable property 81 said city
o be ascertnincd as above specified. Tit