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Sec. Art.

Maintenance of Canals.

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counties, and for other purposes," approved November 27, A. D. 1865, and to revise acts amendatory thereof, approved March 13, A. D. 1884; and in the Yazoo-Mississippi Delta Levee District, in accordance with the terms and provisions of section three of an act entitled An act to incorporate the board of levee commissioners for the YazooMississippi Delta and for other purposes," approved February 28, A. D. 1884, and the amendments thereto; but the Legislature shall have full power to alter or amend said several acts, and to provide different manners of procedure. 234. XI.

No bill changing the boundaries

of the district or affecting the taxation or revenue of the Yazoo-Mississippi Delta Levee District, or the Mississippi Levee District, shall be considered by the Legislature unless said bill shall have been published in some newspaper in the county in which is situated the domicile of the board of levee commissioners of the levee district to be affected thereby, for four weeks prior to the introduction thereof into the Legislature; and no bill shall be considered for final passage by either the Senate or House of Representatives, unless the same shall have been referred to, and reported on, by an appropriate committee of each house in which the same may be pending; and no such committee shall consider or report on any such bills unless publication thereof shall have been made as aforesaid.

235. XI.

Each levee board shall make at the end of each fiscal year, to the Governor of this State, a report

Sec. Art.

showing the condition of the levees, and recommending such additional legislation on the subjeat of the system as shall be thought necessary and showing the receipts and expenditures of the board, so that each item, the amount and consideration therefor, shall distinctly appear, together with such other matters as it shall be thought proper to call to the attention of the Legislature.

236. XI.

The Legislature shall impose for levee purposes, in addition to the levee taxes heretofore levied or authorized by law, a uniform tax of not less than two nor more than five cents an acre per annum, upon every acre of land now or hereafter, embraced within the limits of either, or both, of said levee districts. The taxes so derived shall be paid into the treasury of the levee board of the district in which the land charged with the same is situated; and the Legislature, by the act imposing said tax, shall authorize said levee boards to fix the annual rate of taxation per acre within the limits aforesaid, and thereby require said levee boards, whenever a reduction is made by them in their other taxes, to make a proportionate reduction in the acreage tax hereinbefore mentioned; but said acreage tax shall not be reduced below two cents an acre per annum; and all reductions in such taxations shall be uniform in each of said districts; but the rate of taxation need not be the same in both of them; and such specific taxes shall be assessed on the same assessment-roll, and collected under the same penalties as the ad valorem taxes for levee pur

Bec. Art.

Maintenance of Canals.

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poses, and shall be paid at the same time with the latter. And no levee board shall ever be permitted to buy lands when sold for taxes; but the Senate shall have a prior lien for the taxes due hereto. The Legislature may provide for the discontinuance of the tax on cotton, but not in such to affect standing bonds based on it, and on the discontinuance of the tax on cotton, shall impose another tax in lieu thereof, but the Legislature may repeal the acreage tax required to be levied hereby, after the first day of January, A. D. 1895. 237. XI.

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The Legislature shall have full power to provide such system

of taxation for said levee dis

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tricts as it shall from time to time deem wise and proper.

238. XI.

No

property situated between the levee and the Mississippi river shall be taxed for levee purposes, nor shall damage be paid to any owner of land so situated because of it being left outside a levee. 239. XI.

The Legislature shall require the levee boards to publish at each of their sessions an itemized account embracing their respective receipts since the prior session, and such appropriations as have been made or ordered by them respectively, in some newspaper or newspapers of the district.

Improvement of Canals.

IMPROVEMENT OF CANALS.

I Sec. 10. The canals may be improved in such manner

2 as the Legislature shall provide by law.

A debt may be

3 authorized for that purpose in the mode prescribed by section 4 four of this article, or the cost of such improvement may be 5' defrayed by the appropriation of funds from the State treasury,

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Par. I. The General Assembly shall raise, by taxation, each year, in addition to the sum required to pay the public expenses and interest on the public debt, the sum of one hundred thousand dollars, which shall be held as a sinking fund, to pay off and retire the bonds of the State which have not yet matured, and shall be applied to no other purpose whatever. the bonds cannot at any time be purchased at or below par, then the sinking fund herein provided for may be loaned by the Governor and Treasurer of the State: Provided, The security which shall be demanded for said loan shall consist only of the valid bonds of the State; but this section shall not take effect until the eight per cent currency bonds, issued under the act of February the 19th, 1873, shall have been paid.

2. X.

INDIANA.

All the revenues derived from the sale of any of the public works belonging to the State, and from

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Sec. Art.

Improvement of Canals.

sufficient, with other resources, to pay the estimated expenses of the State government, the interest of the State debt, and such deficiency as may occur in the resources.

2. XIV.

The Legislature shall provide by law a sinking fund of at least twenty thousand dollars a year, to commence in eighteen hundred and fifty-two, with compound interest at the rate of six per cent per annum, and an annual increase of at least five per cent, to be applied solely to the payment and extinguishment of the principal of the State debt, other than the amounts due to educational funds, and shall be continued until the extinguishment thereof.

The unfunded debt shall not be funded or redeemed at a value exceeding that established by law in one thousand eight hundred and forty-eight.

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Sec. Art

sufficient to pay the accruing interest on such debt, and annually to reduce the principal thereof by a sum not less than one hundred thousand dollars, increased yearly, and each and every year, by compounding, at the rate of six per cent per annum. The said sinking fund shall consist of the net annual income of the public works and stocks owned by the State, of any other funds or resources that are, or may be, provided and by law, of such further sum, to be raised by taxation, as may be required for the purposes aforesaid.

9. VIII.

The commissioners of the sinking fund shall, immediately preceding each regular session of the General Assembly, make an estimate of the probable amount of the fund provided for in the seventh section of this article, from all sources except from taxation, and report the same, together with all their proceedings relative to said fund and the public debt, to the Governor, who shall transmit the same with his regular message to the General Assembly; and the General Assembly shall make all necessary provision for raising and disbursing said sinking fund, in pursuance of the provisions of this article. VIII.

10.

It shall be the duty of the said commissioners faithfully to apply said fund, together with all moneys that may be, by the General Assembly, appropriated to that object, to the payment of the interest, as it becomes due, and the redemption of the principal of the public debt of the State, excepting only the school and trust funds held by the State.

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