Const 1963, art 9, § 14;
To meet obligations incurred pursuant to appropriations for any fiscal year, the legislature may by law authorize the state to issue its full faith and credit notes in which case it shall pledge undedicated revenues to be received within the same fiscal year for the repayment thereof. Such indebtedness in any fiscal year shall not exceed 15 percent of undedicated revenues received by the state during the preceding fiscal year and such debts shall be repaid at the time the revenues so pledged are received, but not later than the end of the same fiscal year. This section does not apply to indebtedness incurred by the state under section 11 of this article.
Proposal B also amends art 4, § 41; art 9, §§ 3, 5, 6, 8, 10, 11, & 36
To meet obligations incurred pursuant to appropriations for any fiscal year, the legislature may by law authorize the state to issue its full faith and credit notes in which case it shall pledge undedicated revenues to be received within the same fiscal year for the repayment thereof. Such indebtedness in any fiscal year shall not exceed 15 percent of undedicated revenues received by the state during the preceding fiscal year and such debts shall be repaid at the time the revenues so pledged are received, but not later than the end of the same fiscal year. This section does not apply to indebtedness incurred by the state under section 11 of this article.
Proposal B also amends art 4, § 41; art 9, §§ 3, 5, 6, 8, 10, 11, & 36
Const 1963, art 9, § 14;
To meet obligations incurred pursuant to appropriations for any fiscal year, the legislature may by law authorize the state to issue its full faith and credit notes in which case it shall pledge undedicated revenues to be received within the same fiscal year for the repayment thereof. Such indebtedness in any fiscal year shall not exceed 15 percent of undedicated revenues received by the state during the preceding fiscal year and such debts shall be repaid at the time the revenues so pledged are received, but not later than the end of the same fiscal year.
Const 1908, art 10, § 10;
The State may contract debts to meet deficits in revenue, but such debts shall not in the aggregate at any time, exceed two hundred fifty thousand dollars. The State may also contract debts to repel invasion, suppress insurrection, defend the State or aid the United States in time of war. The money so raised shall be applied to the purposes for which it is raised or to the payment of the debts contracted. The State may borrow not to exceed fifty million dollars for the improvement of highways and pledge its credit, and issue bonds therefor on such terms as shall be provided by law.
See also: Const 1963, art 9, § 15 and schedule, § 13
The State may contract debts to meet deficits in revenue, but such debts shall not in the aggregate at any time, exceed two hundred fifty thousand dollars. The State may also contract debts to repel invasion, suppress insurrection, defend the State or aid the United States in time of war. The money so raised shall be applied to the purposes for which it is raised or to the payment of the debts contracted. The State may borrow not to exceed fifty million dollars for the improvement of highways and pledge its credit, and issue bonds therefor on such terms as shall be provided by law.
See also: Const 1963, art 9, § 15 and schedule, § 13
Const 1908, art 10, § 10;
The State may contract debts to meet deficits in revenue, but such debts shall not in the aggregate at any time exceed two hundred fifty thousand dollars. The State may also contract debts to repel invasion, suppress insurrection, defend the State or aid the United States in time of war. The State may also issue bonds for the purpose of raising money for the construction and permanent improvement of the public wagon roads of the State. The money so raised shall be applied to the purposes for which it is raised or to the payment of the debts contracted.
See also: Const 1963, art 9, § 15 and schedule, § 13
The State may contract debts to meet deficits in revenue, but such debts shall not in the aggregate at any time exceed two hundred fifty thousand dollars. The State may also contract debts to repel invasion, suppress insurrection, defend the State or aid the United States in time of war. The State may also issue bonds for the purpose of raising money for the construction and permanent improvement of the public wagon roads of the State. The money so raised shall be applied to the purposes for which it is raised or to the payment of the debts contracted.
See also: Const 1963, art 9, § 15 and schedule, § 13
Const 1908, art 10, § 10;
The state may contract debts to meet deficits in revenue, but such debts shall not in the aggregate at any time exceed two hundred fifty thousand dollars. The state may also contract debts to repel invasion, suppress insurrection, defend the state or aid the United States in time of war. The money so raised shall be applied to the purposes for which it is raised or to the payment of the debts contracted.
See also: Const 1963, art 9, § 15 and schedule, § 13
The state may contract debts to meet deficits in revenue
., but such debts shall not in the aggregate at anyonetime exceedfifty thousandtwo hundred fifty thousand dollars. The state may also contract debts to repel invasion, suppress insurrection,ordefend the state or aid the United States in time of war.The money arising from the contracting of such debts shall be applied to the purposes for which it was raised, or to repay such debts.Themoneysmoney so raised shall be applied to the purposes for which it is raisedthey were obtained,or to the payment of the debtssocontracted.
See also: Const 1963, art 9, § 15 and schedule, § 13
Const 1874, art 14, § 7;
The State may contract debts to repel invasion, suppress insurrection, defend the State, or aid the United States in time of war. The money arising from the contracting of such debts shall be applied to the purposes for which it was raised, or to pay such debts.
See also: Const 1963, art 9, § 15
The State may contract debts to repel invasion, suppress insurrection,
ordefend the State, or aid the United States in time of war. The money arising from the contracting of such debts shall be applied to the purposes for which it was raised, or torepaypay such debts.
See also: Const 1963, art 9, § 15
Const 1868, art 11, §§ 5 & 6;
§ 5: The State may contract debts to meet deficits in revenue. Such debts shall not in the aggregate at any time exceed fifty thousand dollars. The moneys so raised shall be applied to the purposes for which they were obtained, or to the payment of the debts so contracted.
§ 6: The State may contract debts to repel invasion, suppress insurrection, or defend the State in time of war. The money arising from the contracting of such debts shall be applied to the purposes for which it was raised, or to pay such debts.
See also: Const 1963, art 9, § 15
§ 5: The State may contract debts to meet deficits in revenue. Such debts shall not in the aggregate at any
onetime exceed fifty thousand dollars. The moneys so raised shall be applied to the purposes for which they were obtained, or to the payment of the debts so contracted.§ 6: The State may contract debts to repel invasion, suppress insurrection, or defend the State in time of war. The money arising from the contracting of such debts shall be applied to the purposes for which it was raised, or to
repaypay such debts.
See also: Const 1963, art 9, § 15
Const 1850, art 14, §§ 3 & 4;
§ 3: The State may contract debts to meet deficits in revenue. Such debts shall not in the aggregate at any one time exceed fifty thousand dollars. The moneys so raised shall be applied to the purposes for which they were obtained, or to the payment of the debts so contracted.
§ 4: The State may contract debts to repel invasion, suppress insurrection, or defend the State in time of war. The money arising from the contracting of such debts shall be applied to the purposes for which it was raised, or to repay such debts.
See also: Const 1963, art 9, § 15 and schedule, § 13
Const 1835, amendment II;
That the constitution of this state be so amended, that every law authorizing the borrowing of money or the issuing of state stocks, whereby a debt shall be created on the credit of the state, shall specify the object for which the money shall be appropriated; and that every such law shall embrace no more than one such object, which shall be submitted to the people at the next general election, and be approved by a majority of the votes cast for and against it at such election; that all money to be raised by the authority of such law be applied to the specific object stated in such law, and to no other purpose except the payment of such debt thereby created. This provision shall not extend or apply to any law to raise money for defraying the actual expenses of the legislature, the judicial and state officers, for suppressing insurrection, repelling invasion, or defending the state in time of war.
See also: Const 1963, art 4, § 24, art 9, § 15, and schedule, § 13
