New-York tribune., 1920-10-09
LAWS OF NEW YORK

q ebt heretofore or hereafter created under
section four OF article seven or the consul
tuition until tho game shall be Wholly paid,
and tho principal and income OF SUCH b'hN-
Ing fund shall be applied TO thc purpose
for which said sinking fund is crea'eu snu ,
to no other purpose whatever, ana, fh tne
event such moneys SO set apart III any
fiscal year be sufficient to provide auch
sinking fund. direct annual TAX ior a"cn .,l
year need not be imposed and collected as
required by tho provisions or salu section
four of article snven. or of any law enacted
in pursuance thereof tho legislature ,',,i smaii
annually as tho same shall fall due provide
by direct tax, appropriation or both Tor
tho payment Of the interest upon ana IN.
stalments OF principal of all deb, 8 created
on behalf OF tho state, payable in annual
instalmonts. pursuant to section 1our OF
article eeven. or of any law enactco II,
annually provide bp appropriation for the
payment OF the interest upon and tnStdments
the state ercept those contracted u'tder sec, e.,
ton t1oo Of this article, as the sdmc shdti
fan due, and for the contribution TO az OF
the sinking funds heretofore ctcdtod by idto
Of the amounts annually to DO contributed
ttnder the provisions Of section fuc OF fhts
Grticl~ II at any time The legislature shan
foii TO make ony such appropriation. the
comptrorlcr shall set apart from the first
revenues thercdttor recetved. applicable 10
cicnt TO pay srch interest, tnSto,mentS OF
principal, contributions to such sinking
tund, as the case ndD be, and shall so apply
The moneys thus set apart. Tho comptroller
mnv be required to set aside and apply Such
,r,.cr1eS az aforesaid at the suit OF UrU
holder Of such bonds"
hinhyro,,, sbnJ, be crcoteJ
o,i, n'f tb ,nGn,,er rol;dcG an seotion fonr
o'y @ nj T." ~. N s.,,.o,voSon ~ tbts ort{cf.
u a. III 1''' ~ i,n,'nj ~ ~ Sect ~
rnliditV OF am acct Of the state heretofore
fore created betqSeen The state and anv Of it's
ciuil divisions.
A debt or debts of tho state may be
authorized by law for the Improvement OF
y, l,nlt ha date
mined under general laws, which shall
also nrovide cor the cnuitable apportion~
mcnt thereof '' among the COUNTIES. The
arrrcpate of the debts authorized by this
eer,to5 sbo1i nn, az anv ono ii,na exrocd
The sum of nfty millions of dollars The
nayment Of the annual interest on such
dcbt ana the creation of a sinking fund OF
at least two nor cnntun per anuufn TO dis
az 'v@s' tno lrtr a ",i' ma+mrifv shah he
charEe 1he prlnc,pa' au farra I'd
oNi"cu -; sN''i -, " ,i+,'f,iahaI "a d,,ring the
omete Sa'"t' Nv, , Soht crnated therounder
~ ,N'S'rtee -. 'i' ~ ~ ~. - ,,a,.ol 1o,rs 70
lhe legislature may py G erIvt hnth re nav 10
the shklhs luuu .iiS pta, ,,t,hi tba
the cost or any such nisnway w,'arn ma the
proportonate part of the interest thereon.
but no county shall at any tlfne LOT any
highway be required to pay more tnah
thirty-hve hundrcdths or the cost OF sucn
highway. and no town more tnan nt'een ~ cen
hundredths None Oh ing Pt , is,1'' ~ i, ~ , 80
fourth sectlon oi eta,s ro,aer,ent al Of bIehwavs
debts for the improvement VI 'i's NV N'
nesU.or" fnror"ng amendment be- submit.
da INA" - 't tbo neanIe For approval at the gen
49,, ,aotion tn bo hold in the wear nine