Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1920-10-14

JOINT AND CONCURRENT REsur.U-
ITO providing for the amendment of
article 10 of the Constitution of the
state of Missouri by striking out Sec
tion IL thereof, and adding a new Sec
ton in lieu thereof, ITO be known as
section IL thereof, relating to the lin
1t of Indebtedness of counties, cities,
towns, townships, school districts and
other political corporations and SUBJ
divisions.
Be it resolved by the Senate, the House
OF representatives concurring therein,
as follows;
That at the general election to be held
on Tuesday nest following the first Mon
DAY IN Novembers A. d. 1920, there shall
pc submitted for adoption or rejection, to
the qualified. voters of the state of Mis-
souri, the repeal of section IL of article
adoption of the following new section in
lieu thereof, to be known as section 10
thereof. relating to the limit of indebted
ness OF counties, cities, towns, townships,
~school-districts and other political cor
porations and subdivisions:
Section II. No county. city, town,
township, school district or other political
corporation or subdivision of the state
shall be allowed to become indebted in
any manner or for any purpose to an
amount exceeding in any year the income
and revenue provided for such year, vita
out the consent of two-thirds of the vot-
ers thereof voting on such proposition,
at an election to be held for that purpose;
nor IN cases requiring such assent shall
any Indebtedness be allowed to be in
Cured to an amount including existing
indebtedness, in the aggregate exceeding
five per centum on the value of the tax
able property therein, to be ascertained
by the assessment next before the last
assessment for state and county purposes,
previous to the mourning of such in
debtedness, except that cities having a
population of ~Seventy-five thousand in
h1hIt1ntE or more NAV with tho n sCnnt
OF tWo-thirds of the voters thereof vot-
ing on such proposition at an election to
be. held for that purpose, incur an in
debtedneSs not exceeding ten per centum
on the value of the taxable property
therein. to be ascertained by the assess
ment next before the last assessment for
state and county purposes previous to
the mourning of such indebtedness; such
proposition 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 or
jail, or for the grading, construction,
paving, or maintaing of paved, graveled,
macadamized or rock roads and neces-
sary bridges and culyertS therein; and
provided further, that any county, city,
town, township, school district or other
political corporation or subdivision of the
state, mourning any Indebtedness requir-
ing the assent of the voters as aforesaid,
shall before or at the time Of doing so,
provide for the collection Of an annual
tax sufficient to pay the interest on such
Indebtedness as it falls 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; and provided further, that
the corporate authorities of the city Of
st. Louis are hereby authorized to issue
interest-bearing bonds of said city in
the amount of five million dollars. at a
rate of interest not to exceed four per
cent per annum. the principal payable
within thirty years from the date of their
issue, n the proceeds thereof shall be
paid to the corporation organized for the
celebration of the Louisiana purchase
centennial in said city, to be used by said
corporation for said celebration, holding
a worlds fair or exposition in said City.
And said corporate authorities of St.
Louis shall be repaid as large a proper
tionate amount of the aid given by them
as shall be repaid to the stockholders Of
said corporation on the sum subscribed
and paid by them, and any surplus re-
naming from the assets of said corpora
ton after said stockholders and said city
shall have been paid IN full, shall be
said city in proportion to the aggregate
amount Of said stock so paid in and the
amount so loaned by said city; and any
amount 50 received by said city from
sinking fund of said city for the redemp-
ton of its outstanding bonds: Provided,
that if, at the election for the adoption
of this amendment to the Constitution, a
majority of the votes cast within the lin
it's of said city Of st. Louis voting for and
against this amendment shall be against
its adoption, then no bonds shall be is
sued under this amendment; n provid-
ed further, that no such Indebtedness 50
created shall be in any part thereof paid
by the state or from any state revenue,
tax or fund, but the same shall be paid
by the city of St. Louis alone: Provided,
that in the city of st. Louis the amount
Of bonds now a~ggregating $6.111,000. that
being the amount assumed. by said city
IN tho cahCpnn nf CanQv va ti0n from G thn
county of st. Louis, and the sum of S.
sos, 600 heretofore prior to January l..
1901, expended in the construction Of
w~aterworks for the city of st. Louis and
any bonds which may be hereafter issued
by said city in the construction and i'm
p~royement Of waterworks, the payment
OF the interest wherein and the principal
whereof shall be provided from, the rev
enue of said waterworks; that is to say,
the amount of said bonds which shall be
outstanding. at the time. shall not be in
cluded 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 the. voters under the proyis,
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 ten per cent OF the value of the tax
j able property In said city. to be ascer-
tanned as above provided, and said city
3 | snail nave power, WITH SuCn assent Oh Tie
I voters, to issue bonds for the construc-
/ ton and Improvement of waterworks, the
] interest wherein and the principal where
! of shall be provided for from the income
! of said waterworks. Said city shall es-
"A tablish a 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
! a population of s~eventy-iye thousand or
! : more inhabitants may acquire by pur-
chase. condemnation or construction,
: waterworks. gasworks, electric light
4 works, street railways, telegraph and
I telephone systems, heating plants, Ice OF
. refrigeration plants, or any other planl
! system or public service institution, with
: In or outside Of the limits of suchrcity
for the use of the city or its citizens
] and for the. purpose Of paying therefor
: in whole or tn part, may Issue public util-
Q tiles bonds, which public utilities bonds
q shall not be included IN the liabilities o.
h Indebtedness of the city limited by the
= prior provisions of this section: but thu
total amount OF such public utilities
! bonds to be issued by such city shal
not exceed twenty per centum of thu
v value of the taxable property In said city
! FL ha asrartpiuad No abnVa Gnarfffad Ths