The Lexington intelligencer. [volume] (Lexington, Mo.) 1901-1949, 1920-10-15

JOINT AND CONCURRENT REsoIJr.
TlON providing for the Amendment Of
article 10 Of the Constitution OF the
state OF Missouri by striking out Sec
tion u thereof, and adding a new sec
ZION IN .4eu thereof, to be known as
section u thereof. relating to the lin
Il Of Indebtedness Of counties cities
towns, townships. school districts ana
9iheI political corporations and sub
se II resolved by the Senate, the House
vi representatives concurring therein,
Tna AZ the general election to be held
on tuesday next following the first Mon
Jay " November, A. ID. 1920, there shall
~ submitted for adoption or rejection. Ia
~ qu4iineo voters OF the state Of Mis-
souri the repeal OF section IL Of article
~ OF the Constitution of Missouri and Inc
anoption OF the following new section in
leu tnereof. to be known as section 10
NhereoL relating to the limit OF indebted
sess, q Hountles' cities, towns. townships,
porat'ons and Subdivisions:
Section l.. No county CITY toun
towllsnip. school district or other %poiiticai
corporation or subdivision OF the atata
snah De allowed to become Indebted In
any manner or for any PURPOSE tn an
amount exceeding in any year the income
anu revenue provided for such year. with
out the consent Of two-thlrds Of tha vol
ets thereof voting on such proposition.
~ ~ elecilon 70 De held for that purpose;
nor " cases requiring ouch assent sinai
any indebtedness be allowed 10 be in
CURED 20 an amount including existing
hueoteuness, In the aggregate exceeding
nts per eentum on the value OF the tax
aole properly therein, to be ascertaI ned
" the assessment next before the last
assessment FOR state and county ptrnosas
previous TO the mourning OF such In,
oeptedness. except hat cities havinR a
Popuiation OF seventy-five thousand In
haDltantS or more may, with the assent
OF two-thirds OF the voters thereof vof-
ing on such proposition al an e~lection fo
pc held for that purpose, incur an In
neDteoness not exceeding ten per centum
therein, TO be ascertained by the ASSESS,
ment next before the last assessment for
state n county purposes previous Ia
inc mourning OF such Indebtedness: such
HLoRYsltion may be submitted at any
election, general or special; provided. that
with such assent anY county may be AL
lowed to become Indebted TO a larger
amount for the erection OF courthouse ar
geii, or Tor the grading, construction.
paving, or maintatng OF paved, graveled.
m~acadamized or rock roeds and neces-
sary. bridges and culverts therein. and
provided fnsiher. that any county. city,
Town; township, school district or other
~ nAOn VI hnDQiNlSlDn OF me
state, mourning any indebtedness reoujr-
ing the assent OF the voters a. aforesaid
shall before or at the time OF doing so'
provide for the collection OF an annual
,ax SUFFICIENT 10 pay the interest on such
indebtedness as il falls due, and also 10
constitute a sinking fund for the pay-
ment OF the princlpal thereof. VII min
twenty years from the time OF CONTRACT
hg me same; and provided further, that
she corporate authorities OF the city Of
-. Louis are hereby authorized to issue
interest bea ring bonds OF said city in
the amount OF five million dollars, at a
late OF interest not 20 exceed four per
csnt per annum, the principal payable
wlthlh thirty years from the date Of their
issue. and the proceeds thereof shall be
PAID 10 the corporation organized for the
celebration OF the Louisiana purchase
centennial IN said city. to be used by said
corporation Tor said celebration, holding
worlds fair or exposition in said city.
AND said corporate authorities OF 81.
Louis shall be repaid as large a propor-
tonate amount OF the aid given by them
as shall be repaid TO the stockholders OF
said corporation on the sun subscribed
and paid by them. and any surplus re-
naming from the assets OF said corpora-
tion after said stockholders and said city
shall have been paid In full. shall be
said city In proportion to the aggregate
Ntaount OF said stock so paid IN and the
amount 70 loaned by said CITY: and any
amount 80 received by said city from
saia corporation shall be paid into the
sinking fund VI said city for the redemp-
ton OF Its outstanding bonds: Provided
that II, at the election for the adoption
~ this amendment to the Constitution. A
majority OF the votes cast within the linn
lite or said city OF st. Louis voting FOR and
against this amendment shall be against
It's adoption. then no bonds shall be is
sued under this amendment; and provid-
ca turther, 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 he maid
by the city OF st. Louis alone. Provided,
that In the city OF st. Louis the amount
or bonds now a~sgregating So, III. 900, that
being the amount assumed BY said city
IN the scheme OF separation from the
county OF st. Louis, and the sum OF S5,-
bO6.OO0 heretofore prior to January l..
1901, responded In the construction Of
waterworks for the city Of st. Louis and
any bonds which may be hereafter issued
by said city In the construction and Inn
provement or waterworks, the paymen
or the Interest WHEREOF and the principal
whereof shall be provided from the rev
the amount OF said bonds which shah be
outstanding at the time shall not be In
cluded In the computation OF the exist
Ing bonded indebtedness In determining
the amount q bonds authorized to be
Issued by said city with the assent OF
two-thirds Of the voters under the provis-
ions Of this article. but laid city shall
be authorized at any time to Issue bonds,
with the assent aforesaid, to an amount
including outstanding indebtedness. other
than that above named. to the amount
OF ton per cent Of the value OF the tax
able property In said city, to be ascer-
tained as above provided. and said city
shall have power, With such assent OF the
Noter1. 70 Issue bonds for the construc-
tlon and Improvement OF Waterworks, the
interest Wherein n the principal where
OF shall be provided for from the Income
Of said waterwurks. Said city shall os-
tSpleh q sinking fund for the payment OF
the bonds so authorized according to
the times fixed for the maturity OF the
same. Provided further, that any city
which now has or may hereafter attain
Q population Of s~oyenty-hve thousand or
more lnhabilantn may acquire By pur-
chase, contemplation 0r construction
WntorWorka. EAeWocka, electric ilght
works. street Railways, telegraph and
telephone oystetpn. 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 u the city or ito citizens,
ana for the purpose OF paying therefor,
IN whole or IN part, may issue public util-
tiles bonds. which public utilities bonds
shall not be included IN tho liabilities or
indebtedness Of tho city limited BY the
prior provisions OF thia section; but the.
total amount OF such public utilities
bonds % BE- lnsued BY 1uch city shnll
no. exceed twenty kpcf centum OF the
value Of tho taxable property IN said city.
70 be ascertained as aboyo specified The