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Wisconsin Local Debt Limit Amendment, Question 1 (1874)
Official results via: Wisconsin Blue Book 2011 - 2012
Text of measure
The language that appeared on the ballot:
For amending the constitution limiting bonded indebtedness by counties, towns, cities and villages to five per cent
Against amending the constitution limiting bonded indebtedness by counties, towns, cities and villages to five per cent
(Note: The ballots were in the form of separate paper slips.)
SECTION 3. It shall be the duty of the Legislature, and they are hereby empowered 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 taxation, and in contracting debts by such municipal corporations. No county, city, town, village, school district, or other municipal corporation, shall be allowed to become indebted in any manner or for any purpose, to any 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. Any county, city, town, village, school district, or other municipal corporation, incurring any indebtedness as aforesaid, shall, before or at the time of doing so, provide for the collection of a direct annual tax sufficient to pay the interest on said debt as it falls due, and also to pay and discharge the principal thereof within twenty years from the time of contracting the same.
(Note: The italicized section was the added portion.)
Path to the ballot
- First Legislative Approval: AJR 17 & JR 11 (1872)
- Second Legislative Approval: SJR 6 & JR 4 (1873)
- Submission to the People: Ch.37 (1874)