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aggregate amount assessed valuation authorized bank bankers bond house bondholders bonds issued borrowing buyer capital stock collateral trust bonds consolidated convertible bonds coupon bonds debenture default deposits dividends earnings exceed exceeding GOVERNMENT BONDS guaranteed holder income bonds increase insurance companies investor issue of bonds J. P. Morgan less lien limit loan maturity ment mortgage bonds municipal bonds municipal corporation notes obligations outstanding paid payable payment Pennsylvania premium premium bonds principal and interest prior property therein purchase purpose railroad bonds railroad company railroad corporation railway bonds railway company rate of interest real estate mortgages refunding registered bonds revenue road savings-bank school district Section sell sinking fund South Dakota speculative stockholders stocks or bonds street railway subdivision taxable property tion town trust company underwriting United vote Wall Street Wall Street Journal yield York Stock Exchange
Page 56 - No such law shall take effect until it shall, at a general election, have been submitted to the people, and have received a majority of all the votes cast for and against it at such election.
Page 51 - It shall be the duty of the Legislature to provide for the organization of cities and incorporated villages, and to restrict their power of taxation, assessment, borrowing money, contracting debts, and loaning their credit, so as to prevent abuses in assessments and in contracting debt by such municipal corporations...
Page 57 - This section shall not be construed to prevent the issuing of certificates of indebtedness or revenue bonds issued in anticipation of the collection of taxes for amounts actually contained, or to be contained in the taxes for the year when such certificates or revenue bonds are issued and payable out of such taxes.
Page 50 - ... no such law shall take effect until at a general election it shall have been submitted to the people, and have received a majority of all the votes cast for and against it at such election...
Page 57 - No county, city, town or village shall hereafter give any money or property, or loan its money or credit to or in aid of any individual, association or corporation, or become directly or indirectly the owner of stock in, or bonds of, any association or corporation; nor shall any such county, city, town or village be allowed to incur any indebtedness except for county, city, town or village purposes.
Page 50 - No county, city, township, school district or other municipal corporation, shall be allowed to become indebted in any manner or for any purpose to an amount, including existing indebtedness, in the aggregate exceeding five per centum on the value of the taxable property therein, to be ascertained by the last assessment for State and county taxes, previous to the incurring of such indebtedness.
Page 61 - ... to be ascertained by the last assessment for state, and county purposes previous to the incurring of such indebtedness; except that in incorporated cities the assessment shall be taken from the last assessment for city purposes; Provided, that no part of the indebtedness allowed in this section, shall be incurred for any purpose other than strictly county, city, town, school district, or other municipal purposes.
Page 50 - ... provide for the collection of a direct annual tax to pay, and sufficient to pay the interest on such debt as it falls due, and also to pay and discharge the principal of such debt within eighteen years from the time of the contracting thereof.
Page 56 - The sinking funds provided for the payment of interest and the extinguishment of the principal of the debts of the State shall be separately kept and safely invested, and neither of them shall be appropriated or used in any manner other than for the specific purpose for which it shall have been provided.