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- relating to: Bond issue
Section 213 of Article XI of the Alabama Constitution states: After the ratification of this Constitution, no new debt shall be created against, or incurred by this state, or its authority, except to repel invasion or suppress insurrection, and then only by a concurrence of two-thirds of the members of each house of the legislature, and the vote shall be taken by yeas and nays and entered on the journals; and any act creating or incurring any new debt against this state, except as herein provided for, shall be absolutely void; provided, the governor may be authorized to negotiate temporary loans, never to exceed three hundred thousand dollars, to meet the deficiencies in the treasury, and until the same is paid no new loan shall be negotiated; provided, further, that this section shall not be so construed as to prevent the issuance of bonds for the purpose of refunding the existing bonded indebtedness of the state.
In short, the Alabama Constitution prohibits the creation of new debt, therefore the Constitution must be amended each time the State wishes to issue one. Since Article XVIII of the constitution requires that amendments be put to the general electorate, Alabama citizens must vote to approve any bonds.
Section 8 of Article IX of the Alaska Constitution states: "No state debt shall be contracted unless authorized by law for capital improvements or unless authorized by law for housing loans for veterans, and ratified by a majority of the qualified voters of the State who vote on the question. The State may, as provided by law and without ratification, contract debt for the purpose of repelling invasion, suppressing insurrection, defending the State in war, meeting natural disasters, or redeeming indebtedness outstanding at the time this constitution becomes effective."
Further restrictions and exceptions are listed in Sections 9 to 11.
Article 9 of the Arizona Constitution states: The state may contract debts to supply the casual deficits or failures in revenues, or to meet expenses not otherwise provided for; but the aggregate amount of such debts, direct and contingent, whether contracted by virtue of one or more laws, or at different periods of time, shall never exceed the sum of three hundred and fifty thousand dollars; and the money arising from the creation of such debts shall be applied to the purpose for which it was obtained or to repay the debts so contracted, and to no other purpose. In addition to the above limited power to contract debts the state may borrow money to repel invasion, suppress insurrection, or defend the state in time of war; but the money thus raised shall be applied exclusively to the object for which the loan shall have been authorized or to the repayment of the debt thereby created. No money shall be paid out of the state treasury, except in the manner provided by law.
Section 1 of Article 16 of the Arkansas Constitution states: "Neither the State nor any city, county, town or other municipality in this State shall ever lend its credit for any purpose whatever; nor shall any county, city or town or municipality ever issue any interest bearing evidences of indebtedness, except such bonds as may be authorized by law to provide for and secure the payment of the indebtedness existing at the time of the adoption of the Constitution of 1874, and the State shall never issue any interest-bearing treasury warrants or scrip."
In short, the Arkansas Constitution prohibits the creation of new bond, therefore the Constitution must be amended each time the State wishes to issue one. Since Section 22, Article 19, Arkansas Constitution requires that amendments be put to the general electorate, Arkansas citizens must vote to approve any bonds.
Statewide bond propositions (California): Statewide bond propositions in California are mandated by Article XVI of the California Constitution. Section 1 of Article XVI says that the California State Legislature can't borrow ("create a debt") more than $300,000 unless the legislature agrees to enter into the debt "...by a two-thirds vote of all the members elected to each house of the Legislature and until, at a general election or at a direct primary, it shall have been submitted to the people and shall have received a majority of all the votes cast for and against it at such election."
Section 16 of Article VI of the Rhode Island Constitution states: The general assembly shall have no powers, without the express consent of the people, to incur state debts to an amount exceeding fifty thousand dollars, except in time of war, or in case of insurrection or invasion; nor shall it in any case, without such consent, pledge the faith of the state for the payment of the obligations of others. This section shall not be construed to refer to any money that may be deposited with the state by the government of the United States.
Also see: Rhode Island bond questions
Current with not bonds listed on BP
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