The Bluffton news. [volume] (Bluffton, Ohio) 1875-current, 1947-10-30
PR0POsED kNENDNENT 70 THE

lpR0FOsED AMENDMENT T0 THE
CONSTITUTION or OHIO
Topc5in9 to amend Article VIII cf ths
ConatitutiouS Of ths state Of ohio 20
rrovids for he payment of eempensa-
1cn by the state Of Ohio 90 it, rsaf~
denta who @hafl have served In the
armed IorcaA Of the United States In
World War II. or 20 their survivors.
snd to isstss bonds Ct ths state ct
ohao e provide the funds therefor.
% resolved . The GeH<rol dsseTBbly Of
sAs State Of 09sto. three-hfths OF the men,
bers elected tu-each house thereof concur
x1ng therein. That there shall be sub
niftsd 70 the @ectors of the state of Ohio.
general electicn 20 he held on the hrst
Tuesday after me first Monday in Novem.
ct Ctr is1. . 9oposition % amend Article
VII OF the Constitution Of the state OF
OHIO by adding thereto Immediately after
section "a Of said Article new section
2h The boarn ct commissioners created
" section 8 Of article VIII Of the Consti-
tuition Of the state CT Ohio. designated
sncrean The Commissioners Of the Sinking
fund shall, fdthwith upon the adoption
q this amendmeu1. proceed 70 issue and sell,
from time 70 uGne, bonds Of the state Of
0nlo 10 such afvounts Of face value as II
may deem necessary % provide the funds,
of such part thea3ot, ~ may be required TO
pSy Ins compensation and the expenses OF
administering this section as herein pro
wided tor, provided, however, that the aggre-
gate total amount sof face value of bonds 90
issued shan not exceed three hundred mil.
uon dollars. The full faith and credit OF
the state OF Ohio is hereby pledged for the
payment OF such bpuds All bonds SO issued
snan mature IN thirty semi annual install.
nents alter the respective dates thereof, and
kne maturities thereof shall be 20 fixed that
ane total amounts of payments on account
OF principal and interest to be paid on each
of such semi-annaal instaliment payment
dates shall be approximately equal bur no
such honds shall be issued or bear dates
later than the first Jay of April, 1881. All
bonds 80 issued shall bear interest at such
rates as The Commissioners OF the Sinking
Ifund may ax, which interest shall be pay
FaSie semi annually. 1 Such bonds, and the
interest thereon as income, shall be exempt
from all taxes levie1 by the state Of Ohio
% any eaSins district thereof The bonds
may. at the option OF the Sinking Fund
tSommission. be issued subject TO call on any
interest payment date at par and accrued
interest. All sales Of such bonds by The
commissioners of the Sinking Fund shall be
jim accordance with such regulations as il
lshaA make and pron1ulgate, provided, how.
ever that such bonds shall be sold only &c
the highest bidder or bidders therefor after
notice of such sale shall have been published
Ionce each week tor three consecutive weeks
lon the same day Of each of such weeks, the
Ihrst OF such notices being published at least
Itwenty-one tuli days before the date of sale,
in newspaper Of general circul~ ton in each
iot the eight most poualoas counties IN the
Estate OF Ohio, and provided that each OF such
published notices shall state the day, hour
and place Of the sale, the total face value OF
the bonds TO be sold.E their denominations
dates, and the dates Of their maturities. in.
formation relative the rates OF interest
which the bonds viii bear, and the dates upon
which interest will be payable. The Com
tmisstoners OF the Sinking Fund shall have
1.-THE right to reject any or all bids and to re,
IadVertise and re-offer bonds for sale. Out ot
1.-THE proceeds OF the sab Of all bonds that
amoant which representa- accrued interest. il
ANY, shall be paid into the treasury OF the
lstate OF Ohio into fund to De known a.
the World War III COMPENSATION Bond Re
lurement Fund The balance shall be paid
into the treasury Of the state OF Ohio into .
fund to be known ~ the World War III
fCompensation Fund. The General Assembly
los the state OF Ohio may appropriate and
cause to be paid into the World War II
Compensation Bond Retirement Fund or the
World War III Compensation Fund. out oi
the funds IN the treasury Of the state no
Iotherwise appropriated, such amounts a. i
commissioners OF the Sinking Fund for the
purposes for which such funds are created Al
herein provided Ii the General Assembly
should % appropriate any funds 70 ths
World War III Compensation Fund prior u
the time The Commissioners OF the Sinking
Fund shall have issued boads o. the aggre
gate total amount of face value authorizes
i'm this section, the aggregate total amoun
iot face value OF bonds 50 authorized TO b
issued shall be reduced by the amount of th'
funds SO appropriated
During the period Of hfseen years begin
ming January l., ls4e, the treasurer OF stas'
lot the state Of Ohio shah, without approprfa
ltion thereof by the General Assembly. trans
Ifsr INTO said World War II Compensation
Bond Retirement Fund one million dollar
each month out OF funds N the state treas
lury derived from taxes levied by the stat
for the purpose OF providing revenues 70 de
ira the expenses of the state, excepting tn
taxes levied by the state By sections ss27
lSS4l, and oZ9t of the Gcncr.t Code of Obi,
as the same may be in effect on the effective
date OF this section To secure such MONTH,
transfer OF funds lien is hereby created np
on all funds coming into the state tTeasur,
after January |, lo49. derived from take
as aforesaid. which lien shan be the. hrst an,
best hen upon an such lands Il shaI
be the duty OF the treasurer Of state to sc
aside and use for the purpose of making
such monthly transfer Of funds. part o
each dollar received IN the state treasur,
IN each calendar year during said period O
hsteen years beginning Januafy |. t949. de
rived from taxes as aforesaia. 50 that th
fetal amount OF money 80 SET aside IN eacI
of such calendar years shall Be twelve miIlioi
dollars, and 50 thar the rapo which th
amount of each dollar 50 ser aside shah bea
to one dollar shall be the SANG as the rasi
which the amount ct twelve nailliou dollar
shall bear 20 the total amount of money re
teeived IN the state treasury IN suCh eaIenda
years derived from taxes - aforesaid. Th
treasurer OF state shall ses aside such oar
Of each such dollar before paying out. trans
ferring, or disposlng OF in any 0hcr manner
such dollar or any part thereof for an,
other purpose whatsoever, and he shall max
the transfer OF one million dollar each montl
TO the World War III Compensation Bond Re
tirement Fund nereiuabove provided for
lout o. said sum Of twelve nailiion dollars 8
SET aside in each Of such calendar -ears.
The Commiss Ioners ot the Sinking Fun,
shall, ON or before the first day of July il
eacl calendar year, levy and certify 10 til
auditor o. the state OF Ohio state tax ol
all taxable. properly subject 10 taxation o.
the general tax n SIS Of ali couraties in th
state Of Ohio such wear At such rat
a. Sse i sas Hss necessity t to OE9
Ibe availabll y Ek(Worid War II conpen
sation Bo3oI Hsirement Fund the tota
amount Of trsds which viii be required il
tae next fdAowing calendar year for the re
Itircmenf Of bonds and the payment of interes
payable IN such year Such levy shan be Il
addition to all other taxes levied now o
hereafter within the period during whicl
bonds issued p.rsuant to the provisions o
this section shall be outstanding, BY or pur
suant to law or any provision Of the Consti
tuition OF the state of Ohio. and shap not b
considered IN applying any iimitatiop or az
lgregatc tax rates now or hereaftet withii
tthe period during which bonds issued pur
suans to the provisions OF this section shaI
be outstanding, provided ny or pursnant q
Law or any provision of the Constitution o
the state Of Ohio The auditor of stage shai
certify such ievles 10 the auditor BIT eacI
county "a the state. Of Ohio. who shali ex
Itend the same on the tax iists of his count,
for the year IN which such levy 10 made ant
shall place same tor collection ON ne q,
lduplicSteA Al htM cOY1ufv co h@ cOll@aeeA m
the same time and ia the same nauner o
Iothes taxes on such duplicates. Said taxes
lhereiu authorized. when collected. sl9afl b.
IpaiI into the World War III Compensation
Bond Retirement Fund in the treasury d
THE state The World War LII Compensation