The journal. (Caldwell, Ohio) 1934-1961, 1955-10-06

| BUILDINGS AND IMPROVEMENTS
Proposing to amend Article VIII of
the constitution of the state of Ohio
by adding section 2e to provide for
the purpose of providing public
buildings, structures, and other pub
lie improvements, excluding high
ways, and for issuance of securities
of the state of Ohio in the amount
of S150,OO0,00O to provide funds
therefor; and to provide for an
excise tax on cigarettes to pay for
such securities and the interest
thereon.
Be it resolved by the General AS
| sembly of the State of Ohio. Three
| fifths of the members elected to
| each house tn e eof concurring
| therein, that there shall be submitted
| to the electors of the State of Ohio
in the manner prescribed by law, at
the general election to be held on
the first Tuesday after the first Mon
! day in November, 1865. a proposition
| to amend Article VIII of the Consti-
tuition of Ohio by adding thereto i'm
| mediately after section &c of said
| Article a new section as follows:
Sec. 2e. The state may borrow
money and issue bonds or other
obligations therefor for the purpose
! of acquiring. constructing, recon
| structing and otherwise improving
| and equipping buildings and struc-
L
purpose of acquiring sites for such
| buildings and structures, for the
| penal, correctional, mental, and well
| fare institutions of the state; for the
| state supported universities end col
| leges of the state; for class room
| facilities to be leased or sold by the
state to public school districts unable
| within limitations provided by law to
| provide adequate facilities without
| assistance from the state; and for
state offices; provided that the aggre-
gate total amount of such borrowing
| under authority of this section shall
| not exceed $150,O00, 900. Not more than
| thirty million dollars of such borrow
| ing shall be contracted within any
| calendar year. No part OF such bOr-
| rowing shall be contracted after the
last day of December 1864. All bonds
or other obligations issued pursuant
TO this section shall mature within
| twenty years from date Of issue. Not
more than S75 600 900 of the total eX-
| penditure from such borrowing shall
be for acquisition, Sconstruction, re-
construction and other Improvement
| and equipping of buildings and Struc-
lures, or for ACQUISITION OF sites Tor
such buildings and structures for the
state supported universities and col
leges public school class room faCili-
ties and state offices; and not more
than $75 000, 900 of the total eNpendi-
ture from such borrowing shall be Tor
i
| ton and other Improvement and
| equipping of buildings and structures.
| or for acquisition of sites for such
buildings and structures, for the
penal. correctional, mental. and well
fare institutions of the state
The faith and credit of the state
are hereby pledged for the payment
| of such bonds or other obligations ard
the interest thereon, and thev shall
be payable from all eXcises and taxes
of the state, except ad valorem taxes
on real and personal PROPERTY in
| come taxes, and fees. eXciseS, or
| license taxes relating to registration,
! operation, or use of vehicles on public
| highways, or to fuels used for pro-
pelling such vehicles.
| During the period beginning with
the effective date of the first authori-
2ation to issue bonds or other obliga-
tiOnS under authority of this section
0nd ending on the last day Of Decem-
Der 1864 ard continuing during such
time as such bonds or other Obliga-
tions are outstanding, and monevs in
the capital improvements bond re-
! tirement fund are insufficient to pay
all interest. principal and charges 'or
the issuance and retirement of such
bonds and other obligations, there
shall be levied, for the purpose Of
paying interest, principal, and charges
for the issuance and retirement of
such bonds and other obligations, ar
excise tax on sales of cigarettes at
the rate of one half cent on each ten
cigarettes or fractional part thereof,
and an excise tax on the use, con-
sumption, or storage for consumption
of cigarettes by consumers in this
state at the rate of One-half cent on
each ten cigarettes or fractional part
thereof. Such tax on the use con-
sumption. or storage for consumption
of cigarettes by consumers in thn
! state shall not be levied upon cigs
rettes upon which the tax on sales
has been paid The moneys received
into the state treasury from the one
half cent excise tax on sales of ciga-
rettes and from the one-half cent eX-
else tax on the use, consumption, or
storage for consumption of cigarettes
by consumers in this state shall be
paid into the capital improvements
bond retirement fund. The general
assembly of Ohio shall enact laws
5 providing for the collection of such
taxes
: There is hereby created in the state
treasury fund to be known as the
capital improvements bond retirement
fund. The capital improvements bond
retirement fund shall consist of all
moneys received by the state from
authority of this section. and all
S other moneys credited to the fund
( pursuant to law. Such moneys shall
t be expended, as provided by law, for
the purpose of paying interest. princi-
2 pal, and charges for the issuance and
2 retirement of bonds and other obli-
2 cations issued under authority of this
t section.
Sufficient amounts of such moneys
+ in the capital improvements bond
retirement fund are hereby appro-
e priated for the purpose of paying in
] tarest, principal. and charges for the
r issuance and retirement Of bonds OF
other obligations issued under author
e ity of this section, without other
= appropriations but according to law
e Any balance remaining in the cap
ital improvements bond retirement
| fund after payment of all interest
principal, and charges for the issu:
| ance and retirement of bonds ano
other obligations issued under author.