New-York tribune., 1920-10-30
LAWS OF NEW YORK

debt here tofore or hereafter created under
section four of article seven OF the consti-
tuition until the same shall be wholly paid,
and the principal and income OF ouch sink
Ing fund shall be applied to tho purpose
for which said sinking fund Is created and
to no other purpose whatever; and, IN the
event such moneys so set apart In any
fiscal year be sufficient to provide such
sinking fund. a direct annual tax for such
year need not be imposed and collected as
required by the provisions of said section
four OF article seven or or any law enaS.eu a,,
annually as the same shall fall due provide
by direct tax. appropriation or both Tor
the payment OF the interest upon and in
stalnents Of principal OF all debts created
on behalf OF the state. payable in annRal
ins,slments. pursuant to section four eof
onnuaIiv provide by appropriation for the
payment Of tho interest upon and thStoments
o{ principal Of all debts created on bchdV OF
the state ercept those contracted under sec.
tion t,oo Of this article. as the sans shat!
toN dae; and ter the oont,tbntion to ,, oH ,o Of
Of the amounts annually to be contributed
aree the n amT s %s Huf
fd,i 10 make any such appropriation. the
comptroller. shall set apart from thc first
the general fund Of the state, Sitn' SUIT
ciert 10 pay s, ch interest, 'nsfalmentS OF
h.nd. '' as the case may be, and shall so opplv
the moneys thus set apart. The comptroller
may be required to set aside aud apply such
revenues as aforesaid, at the suit OF any
holder Of such bonds.
IL Debts hereafter authorised for the
improvement Of highways SHAH be creGted
Of this article. No precision Of this article
shall be deemed 10 impair or affect the
.odty o c"y deo o. the stats hsrso[qoc
fore created bettcccn the state and any OF IT'S
civil divisions.
"A debt or debts OF the state may be
Or ilnDrOXelnent
highways. Such highways shall be deter
mined under general laws, which shall
ment thereof among tho counties The
aggregate OF the debts authorized by this
section shall not at any one time exceed
the sum of fifty millions of dollars The
payment OF the annual interes, on such
debt and the creation of sinking fund or
at least two per centum per annum to dis
charge the principal at maturity shall be
provided by general laws whose force ana
effect shall not be diminished during the
existence Of any debt created thereunder.
Tho legislature may by general laws re-
quire the county town or both to pay to
the sinking fund the proportionate part or
the cost Of any such highway within the
boundaries of such county or town and the
proportionate part of the interest thereon
hut no county shall at any ufne lor any
highway be required to pay moro than
thirty We hundredths of the cost OF such
highway and no town more than hIteen
hundredths None Of the provisions OF the
fourth section of this article shall apply TO
debts FOR the Improvement OF highways
hereby authorized
Q. Resolved or the Assembly concur),
That the foregoing amendment be submit
ted to the people for approval at the gen
eral election to be held IN the year nine.
teen hundred and twenty. in accordance
with the provisions OF the election law.
STATE OF NEW YORK.
IN SENATE. ~
The foregoing resolution was duly passed.
a majority OF all the Senators elected
voting in favor thereof
HARRY c. WAbKEK. b5.n,
STATE OF NEW YORK,
Ths foregoing resolution was duly passed,
a majority Of all the mem bsrs elected to
By order Of the Assembly.
THADDEUS c. SWE
STATE OF NEW YORK.
orrtco OF the Secretary Of state. 's''
have compaTed the R.sced1nx hs copy oI
resolution on ac in this office, and 90
hereby certify that the same Is correct
transcript therefrom and OF the whole
Given under my. hand and tho seal
OF otflco OF the Secretary Of
fY. 81 state. at the city OF Albany, this
first day Of July IN the year one
thousand nine hundred and
twenty.
FRANCIS M. HUGO.
Secretary Of S'ofs.
TWO
Explanation Matter IN stakes is new
mattor IN brackets Is OLD law 10 oe
O''''N' STATE OF NEW YORK.
Office OF the Secretary OF Stats'
Albany, Jtlp /, 1870.
Pursuant to tn. proviaions OF section one
OF article fourteen Of the Constitutlon OF
the state Of New York. and section t"o
hundred ninety fve Of the Electlon Law,
notice is hereby given that the fotiow'3s !;
proposed amendment TO section one -
ar.lcle Two Of the Constitution OF the
state Of New York Is referred 10 The
legislature to bo chosen at the next gen
era election OF senators in thi. stste 70
DO held on the second day OF NoYelnhcV'
nineteen hundred twenty.