Alabama Bullock County Economic Development, Amendment 14 (1957)
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The Alabama Bullock County Economic Development, Amendment 14, also known as Amendment 14, was on the ballot in Alabama on December 17, 1957, as a legislatively referred constitutional amendment. It was approved. The amendment proposed to amend the constitution. The amendment proposed that any municipality in Bullock County, or any one or more of them, would have full and continuing power and authority, without any election or approval other than the approval of its governing body to do any one or more of the following:
1. To purchase, construct, lease, or otherwise acquire real property, plants, buildings, factories, works, facilities, machinery and equipment of any kind.
2. To lease, sell for cash or on credit, exchange, or give and convey any such property described in subdivision 1 above, to any person, firm, association or corporation.
3. To promote local industrial, commercial or agricultural development and the location of new industries or businesses therein.
4. To become a stockholder in any corporation, association or company.
5. To lend its credit or to grant public moneys and things of value in aid of, or to, any individual, firm, association, or corporation whatsoever.
6. To become indebted and to issue and sell interest bearing bonds, warrants, noted or other obligations or evidences of indebtedness, to a principal amount not exceeding fifty percent of the assessed value of taxable property therein as determined for state taxation, in order to secure funds for the purchase, construction, lease or acquisition of any of the property described in subdivision 1 above or to be used in furtherance of any of the other powers or authorities granted in this amendment. Such obligations or evidences of indebtedness may (in addition to any pledge or pledges authorized by subdivision 9 of this amendment) be issued upon the full faith and credit of the municipality or may be limited as to the source of their payment.
7. To levy and collect, in addition to all other taxes now authorized or permitted, a special County privilege license tax or taxes of not exceeding one percent paralleling the state sales and use taxes imposed by Chapter 20 of Title 51, Code of Alabama (1940) as amended.
8. To construct a dam or system of dams, and to acquire a site or sites therefor, on any public stream flowing within the County for the purpose of impounding waters to be used in irrigation projects, or in generating hydroelectric power, or in providing recreational facilities, or for other purposes, and to accept any funds by way of gift, grant, or loan from the federal government, or any agency or instrumentality thereof, for the purpose of constructing such dam or system of dams.
9. To pledge to the payment of any bonds, warrants, notes or other obligations or evidences of indebtedness the annual proceeds from any such special tax or taxes and to obligate itself irrevocably to continue to levy and collect such taxes annually until such obligations or evidences of indebtedness are paid in full and to pledge thereto any rental or sales proceeds of property leased or sold by it.
10. To create a public authority or corporation having such powers, managed and governed by such board or governing body and subject to such limitations as the governing body of any municipality in Bullock County may impose, by approving and filing a certificate to that effect in the office of the judge of probate or the secretary of state, or then respective successors in function, and to delegate to such public authority or corporation and its board or governing body all powers and authority conferred in this amendment upon any such municipality.
The recital in any bonds, warrants, notes or other obligations or evidences of indebtedness that they were issued pursuant to this amendment or that they were issued to provide funds to be used in furtherance of any power or authority herein authorized or that any special tax herein authorized has been pledged to the payment thereof would be conclusive; no purchaser or holder thereof need inquire further; and the levy and collection of such tax would continue until the principal of and interest on such obligations or evidences of indebtedness would have been paid in full. The bonds, warrants, notes or other obligations or evidences of indebtedness issued hereunder would not be considered an indebtedness of any municipality in Bullock County for the purpose of determining the borrowing capacity of such municipality under section 224 of the constitution.[1]
Election results
| Alabama Amendment 14 (December 1957) | ||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
 Yes | 54,624 | 56.64% | ||
| No | 41,825 | 43.36% | ||
Election results via: Alabama Official and Statistical Register, 1959
See also
- Alabama 1957 ballot measures
- 1957 ballot measures
- List of Alabama ballot measures
- History of Initiative & Referendum in Alabama
External links
Footnotes
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State of Alabama Montgomery (capital) |
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