Journal of the Constitutional Convention of the State of Iowa in Session At Iow
Journal of the Constitutional Convention of the State of Iowa in Session At Iow
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Mr. Clarke, of Henry, offered the following amendment to the Fourth Section as amended : Nor shall the bonds or other evidences of debt of any municipal or political corporation be given or granted, or its credit loaned directly or indirectly, or pledged as security for the benefit of any banking cor- poration : nor for any other corporation or purpose whatever, to an amount in the aggregate exceeding Two Hundred Thousand Dollars, but no municipal or political corporation shall give bonds or be...come in- debted in any manner to an amount not exceeding in the aggregate five per cent, on the value of the taxable property within such corporation, which value shall be ascertained by the last State and county tax list ; Mr. Edwards offered the following as a Substitute for said amend- ment : 4 'But such incorporations shall be allowed to take stock in any work for internal improvement purposes in an amount not exceeding ten per cent, on the taxable property of such incorporation by the last assess- ment list ;" .
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To quickly assess the difficulty of the text, read a short excerpt:
Mr. Clarke, of Henry, offered the following amendment to the Fourth Section as amended : Nor shall the bonds or other evidences of debt of any municipal or political corporation be given or granted, or its credit loaned directly or indirectly, or pledged as security for the benefit of any banking cor- poration : nor for any other corporation or purpose whatever, to an amount in the aggregate exceeding Two Hundred Thousand Dollars, but no municipal or political corporation shall give bonds or be...come in- debted in any manner to an amount not exceeding in the aggregate five per cent, on the value of the taxable property within such corporation, which value shall be ascertained by the last State and county tax list ; Mr. Edwards offered the following as a Substitute for said amend- ment : 4 'But such incorporations shall be allowed to take stock in any work for internal improvement purposes in an amount not exceeding ten per cent, on the taxable property of such incorporation by the last assess- ment list ;" .
What to read after Journal of the Constitutional Convention of the State of Iowa in Session At Iow?
You can find similar books in the "Read Also" column, or choose other free books by 1857 Iowa Constitutional Convention to read onlineMoreLess
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