Mexico weekly ledger., 1920-10-14
CONSTITUTIONAL AMENDMENT
NO. 4.

Permitting an Increase Of the limit Of
Indebtedness that large cities may Incur
tiles. ~ N
JOINT AND CONCURRENT REs,s.U-
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
ton In lieu thereof. TO be known as
section IL thereof, relating to the Inn
II OF Indebtedness Of counties. cities
towns. townships. school districts and
0iher political corporations and Sub
divisions.
BE 1t resolved by thu Senate, the House
OF representatives concurring therein.
as follows:
Inat at the general election to be held
on tuesday neSt following the first Mon
Jay in Novembct, 4. d. 1920. there shalI
De submitted for adoption or rejection. To
the qualiled voters OF The state of Mis-
Sourl me repeal OF section ~ OF article
~ oI the constitution of Missouri and the
adoption OF the following new section in
tieu thereof. to be known as section 10
thereof relating to the limit OF indebted
ness of counties, cities. towns townshina
school districts and other political cor
poratlons and subdivisions:
Section IL. No county, city, town.
township. school district or other political
corporation or subdivision of the statc
h be allowed to become Indebted in
any manner or for any purpose TO an
amount exceeding In any year the income
ana revenue provided for such year, with
out the consent of two-thirds Of the Vot-
eIs thereof voting on such proposition.
AZ an election 10 be held for that purpose;
nor IN cases requiring such assent shali
any Indebtedness be allowed to be in.
CURED 10 an amount including existing
Indebtedness, In the aggregate exceeding
hNc per ccntlm on the value of the tax
aoie property therein, TO be ascertalned
nv mo = q nj TA-N - -
assessment for state and county PURPOSES.
previous TO the mourning Of such in
debtedneSs. except that cities having a
population or seventy five thousand in
haDltants or more may with the assent
of two-thiTds Of the voters thereof vot-
ing on such proposition ut an election to
pc heid Tor that purpose. incur an in
dcbtedncss not exceeding ten per cpntum
on the value of the taxable propertv
therein, to be a~gccrtaincd by the assess
mcnt next before the last assessment for
state ana county purposes previous to
the mourning of such Indebtedness. such
proposition may be submitted AT IN
election. general or special. provided, that
with such assent any county may be al
loved To become Indebted to i larger
amount Tor the erection of courthouse or
jaii, or for the grading. construction,
paving, or mAInth!ng of paved. graveled,
mactdamiZed or rock roads and neces-
aAry Bridges and rulveTts therein: and
provided further. that any county, city,
town, township. school district or other
political corporation or s1bdiy sion of the
state. mourning any Indebtedness requir-
ing the assent Of The voters As aforesaid.
shall before or nj the time Of doing so,
provide for the collection 0f an annual
tax sufficient to pay the interest on such
Indebtedness as il fails due, and also To
constitute a sinking fund for the pay
ment OF the principal thereof, within
twenty years from the time of contract
ing the same, ana provided further. that
lhG corporate authorities OF the city If
ST. Louis are hereby authorized to issue
lntefeSi-b bearing bonds OF said city in
the amount of five million dollars, at a
rate Of interest not TO exceed four per
cent per aanutn, the principal payable
WITHIN thirty years from The date Of their
issue, and the proceeds thereof shall be
raid TO the corporation organized for the
celebration Of the Louisiana purchase
centennial In said city. to he used by said
CO. poTation for SAID celebration. holding
4 worlds fair o. exposition ia said city.
Ana SAID corporate authorities Of st.
t-ouiS shall he repaid ~ large a proper
tionate amount OF the aid given by them
as shall be repaid to the stockholders Of
said corporation on the sun subscribed
and paid 10y them. and any surplus re-
manning from the assets Of said corpora
ton after said stockholders and said city
shan have been paid in fun. shall be
divided between said stockholders and
said city in proportion to the aggregate
amount OF said stock so paid In and the
amount 50 loaned by said city, and any
amount 80 received by said city from
said corporation shall be paid into the
sinking fund # said city for the redemp-
ton Of its outstanding bonds: Provided,
that IL, at tho election for the adoption
Of this amendment to the Constitution, Il
majority OF the votes cast within the lin
It's OF sald city Of ST. Louis voting for and
againz. this amendment shall be against
It's adoption, then no bonds shall be is
sued under this amendment; and provid-
ed further, that no such indebtedness so
created shah be In any part thereof paid
by the state or from any state revenue,
tax or fund. but the same shall he paid
by the city nt st. Louis alone: Provided.
Tint In the city of st. Louis the amount
Of bonds now a~EErogatins So Iii .000. tina,
being the amount assumed by said city
in the scheme of separation from the
county Of st, Louis. and the sum OF S.
sos 900 heretofore prior to January /.
1901, expended IN the construction Of
waterworks for the city of st. Loaf and
any bonds which may be hereafter issued
by said city in the construction and i'm
of the interest wherein and the principal
whereof shall be provided from the rev.
enue of said waterwurks; that Is to say,
the amount OF said bonds which shall be
outstanding at the time shall not be in
Guided In the computation Of the exist
Ing bonded Indebtedness in determining
the amount Of bonds authorized to be
issued by said city with the assent of
two-thirds of thu voters under the pr0ris-
ions of this article. but said city shall
be authorized at any time 10 issue bonds.
| Will ltit hSStik dtDttSNIi, III tl htlulIls
including outstanding Indebtedness, other
thar that above named. to the amount
of ten 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
voters, to Issue bonds for the cOnstrur-
ton and improvement of w~aterworks, the
interest whereOn and the principal where
of shall be provided for from the income
Of said w~atorworks. Said city shall e3-
tablish a sinking fund for the payment OF
ne 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
a population Of seventy-tive thousand or
more inhabitants may acquire by pur-
chase. condemnation or construction
waterworks, gaSworks, electric light
works, street railways, telegraph and
telephone systems. 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 of the city or its citizens,
and 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 the liabilities oI
Indebtedness of the city limited by the
prior provisions of this section; but this
total amount OF such public utilities
bonds to be Issued by such city shall
not exceed twenty per Centum of the
value of the taxable property In said city