New-York tribune., 1920-10-09
FRANCIS NJ. HUGO,
Secretary Of State
AMENDMENT NUMBER ONE

AMEN UNENl N OMhEk ONE
Concurrent Resolution of tho Senate and
Two, -Four, Five. Eleven and Twelve OF
Article Seven Of 1.-The Constitution. in
Relation to- Debts Contracted by the
Section l. Resolved or the Assembly
conour). That sections two, four. flve,
constitution be amended to read as fol-
lows:
q. The state mayT. to meet casual
deficits or failures @n revenues. for
penses not provided for. contract debts;
but such debts, direct or contingent singly
exceed on" million of dollars: and the
moneys arising. from the loans creating
ipr which they were obtained, or to repay
the debt so contracted and to no othor
purpose whatever. contract debts IN antici-
lntlon Of the receipt o. tdres aud revenues,
direct or Indirect. for the purposes and ioitls-
IN the amounts Of appropriations heretofore
monc1s so 6orTotced shan be issued as mag
be provided bU lGro, cnd shdU acith the inter
est thereon be paid from such tares and rev
a. Except the debts specified in sec
tons two and three Of this article.
debt shall be hereafter contracted by or
IN behalf of this state. unless such debt
snail be authorized by law for some single
work or object. to be distinctly specified
therein No such debt hereafter author.
1led snail be contracted for a period longer
than that of the probable life of the work
or oDJcct for which the debt is to he CON
,rSg,Sd ,,';'fl to be determinrd by general laws,
Nhch determination shall lee conclusive,
ror ior more than nfty years from the
tiine or the contracting OF such debt. A
nups Tre4I'er ~ contracted by the s'ste
made and each portion OF any such debt
, nioiii ,iIne TO ume so contracted, may, If
ha 'riuep , py the ia" authorizing such debt,
be paid In equal annual instalments, the
flrst of which shall be payable not more
than one year. and the last OF which shall
be payable not more than fifty years, after
norton thereof ba Va
heen contracted Such law shall II 1t au-
thorize the contracting of debt payable
impose and provide for the collection Of a
oirect annual tax to pay, and sufficient to
pay pay the interest on such debt it falls
que, and also to pay and discharge the
principal of such debt within fifty years
from the time of the contracting thereof
No law aut hOrizing the CONTRACTING Of
debt pursuant to this section shall tol1e
effect until it shall, at a general election
nave been submitted TO the peopr and
have received q majority Of ali tho votes
cast for and against il at such oloction
on the final passage Of such hin in aft,,or
house Of the ioeislaturo. the question shall
be taken by ayes and noes. to be d1Ilv en-
tered on tho journals thereof and shall he.
Shall this bill pass and ought tl1n sa,,c
to receive the sanction Of the nooria o,' N
such lufr shan ;0I.o cfJcct ,,,tii = aI,,
general election, hare bcr, e,,1,ajttcI io :" ,1r
uco,lc ANA lo,,c ','e,.-,,oc7 - W ,'. ~ '''r
the ,,otcS co~t "s't I'ela,o % molor'V Of a.,
o ,itr ,,t Ho' TIou ~ DC Suc"i,fcd TO be rotod
nor at am, 0ctcyc1 o,ett; .e p"S%1p, ~
ia'o or ogv Xxi chon he hti,tdV %nV o'",n
rotcd tor or o0cfnst THE 1egislaturo ~ v,oV
by the peope If no Gdht .,, 0i wv s,.o" ,a ,pm
contracted in nlrs,,enca tboreoe ,e,o, ,l,a
same; and NAV ~ a,N, tin, 1,. le"l sriH1 ,ii
The contracting Of any further deht or Ia i.-
hiiity under such law nm, tho t ~ ~ & i''r
imposed by such act in pronortion 70 ',3 tbe
debt and ljahijit,, v,cb ,,d,. C''i & 10 o,Ie
,racted IN pllrsllanca Of s,,ch I,v hr M
main IN force and be irrenealaGln ni1i, ba
annually colcctcd. until The nro"eo9q ~'i"