New-York tribune., 1920-08-07
LAWS OF NEW YORK

>$ WV vi ANEW AOMN
Instalments. set apart in each fscal year.
moneys IN trs state treasury as sinking
TO pay and discharge the principal of any
debt here sore or hereafter created under
section four OF article seven of tho consti
aud the prin rirx,l and income or such sink
INK fund sh III be Applied to the purpose
for which sa vi sinking fund is created and
to no other lHrpose whatever; and In the
event such moneys set apart IN any
fiscal year he sufficicnt to provide such
sinking fund ~ 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 of any law enacted
annually as the, same shall fan due provide
by direct tax, appropriation or both for
stalments OF principal of all debts created
on behalf OF tho state. payable In annual
instainents. pursuant to section four OF
article seven or of any law enacted in
pursuance therebf1l The legislature shall
annuouy rroride, by oppropriation for tie
The state ercept Sb'ose contracted under sec
tion taco Of this n,tic1e. as The same SHAH
the sinking funds, heretofore created bp ld,o.
o. the @n'9mnts nmn"any a, to DC eontib1ted @
article. II at o,iV time the legislature shall
tdil to n,ake opy such dppropriotion, the thc
the general f1p,d OF the state. a sum sutl-
cicnt TO pdD s"at interest, tnsfd!ments OF
principal. or contributions TO such sinking
fund, as the case 1auD be. and shall so apply
the moneys thas N't apart, The comptroller
aaov be required no SET aside and opp'u such
revenues as ofon~soid. at the suit Of any
1 holder OF such b,pds
$ 10. Debts hereafter authorized for the
/ in,prouement OF 'hiohtcuyS shall be created
o? Of his orficle 20 prorfsion Of tnis article
ralidtv Of any debt Of The state heretofore
contracted unv right obligation hereto
fore created oetaceen the state aud any Of its
A debt or debts of the state may be
highways such highways shall be deter.
mined under general laws, which shall
also provide for the equitable apportion-
ment thereof among the 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 interest on such
deb, and the creation of a sinking fund OF
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.
Tine legislature may by general laws re-
ou.re the county or town both to pay to
the sinking fund the proport'onate part or
the cost Of any such highway within the
boundaries OF such county or town and the
proportionate part of the interest thereon.
but no county shall at any time for any
highway be required to pay more than
thirty five hundredths Of the cost of such
highway and no town more than nlteen
hundredths. None of the provisions OK tne a.,
debts for the Improvement OF highways
hereby authorized.
S . Resolved Uf the Assembly concur),
That the foregoing amendment be submit
ted to the people for approval at the gem
eral election to be held in the au,ne. 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,
majority of all the Senators elected
voting in favor thereof ;
by ''''' q m1Rn1 sfS ss"&'1 G wA5xEh. 5,s!75@,.
STATE OF NEW YORK, rl'S'"'"''
: ! N :; AssEMBLY,
The foregoing resolution was duly passed.
| the Assembly voting in favor thereof.
BY order of the Assembly
TUADDEUS c. SWEET
STATE OF NEW YORK. as.
office Of the Secretary of state, S.:
have compared the preceding copy of
concurrent resolution with the original
resolution on file in this Office and .oao DO
transcript therefroU and of the whole
thereof.
of office of the Secretary of
r.. s state. at tho city of Albany, this
first day of July in the year one
thousand nine hundred and
FRANCIS NJ HUGO,
Secretary Of state.
TWO
plana,ion.-Matter in italics is new;
matter in brackets ] is old law to be
''''''' STATE OF NEW YORK.
Office Of the Secretary Of state
Albany, Julv l. 1920.
Pursuant to the provisions of section one
OF article fourteen of the CONSTITUTION OF
| the State Of New York, and section two
hundred ninety-fve of the Election Law,
notice is hereby given that the following
| proposed amendment to section one OF
article two Of the Constitution of the
State of New York is referred to the
era election of senators in this state to
be held on the second day of November,
| ni,na., ,.,A,tA INN L rll