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which said railroad has been mortgaged, in preference to all other bonds.
ARKANSAS. 8. XII. No private corporation shall issue
stocks or bonds except for money or property actually received or labor done, and all fictitious increase of stock or indebtedness shall be void; nor shall the stock or bonded indebtedness of any privale corporation be increased, except in pursuance of general laws, nor until the consent of the persons holding the larger amount in value of stock shall be obtained at a meeting held after notice given for a period not less than sixty days, in pursuance of law.
IDAHO. 1. VII. The fiscal year shall commence on
the second Monday of January in each year, unless otherwise provided by law.
COLORADO. 2. The General Assembly shall pro
vide by law for an annual tax sufficient, with other resources, to defray the estimated expenses of the State government for each fiscal year.
KENTUCKY. 48. The General Assembly shall have
no power to enact laws to dlminish the resources of the sinking fund as now established by law until the debt of the Commonwealth be paid, but may enact laws to increase them; and the whole resources of said fund, from year to year, shall be sacredly set apart and applied to the payment of the interest and principal of the State debt, and to no other use or purpose, until the whole debt of the State is fully satisfied.
GEORGIA. 13. VII. Par. I. The proceeds of the sale
of the Western and Atlantic, Macon and Brunswick, or other railroads, held by the State, and any other property owned by the State, whenever the General Assembly may authorize the sale of the whole, or any part thereof, shall be applied to the payment of the bonded debt of the State, and shall not be used for any
other purpose whatever, so long as the State has any existing bonded debt: Provided, That the proceeds of the sale of the Western and Atlantic Railroad shall be applied to the rapinent of the bonds for
tax, not exceeding the rate allowed in section nine (9) of this article, to pay such appropria ations or expenditures within such fiscal year. This provi. sion shall not apply to appropriation or expenditures to suppress insurrection, defend the State, or assist in defend. ing the United States in time of war. No appropriation of public moneys shall be made for a longer term than two years.
MONTANA. 21. v. No bill for llie appropriation of
monsy, e. cept for the expuls25 of the government, shall be introduced within ten days of the close of the session, except by unanimous consent of the house in which it is sought to be in
troduced. 9. XII. The rate of taxation of real and
personal property for State purposes in any one year shall never exceed three (3) mills on each dollar of valuation; and whenever the taxable property in the State shall amount to one hundred million dollars ($100,000,000), the rate shall not exceed two and one-half (2 1-2) mills on each dollar of valuation; and whenever the taxable property in the State shall amount to three hundred million dollars ($300,000,000) the rate shall never thereafter exceed one and one-half (1 1-2) mills on each dollar of valuation; unless a proposition to increase such rate, specifying the rate proposed and the time during which the same shall be levied, shall have been submitted to the people at a general election, and shall have received a majority of all the votes cast for and against it at such elec
tion. 12. XII. No appropriation shall be made or any expenditures authorized by the Legislative Assembly whereby the expenditures of the State during any fiscal year shall exceed the total tax then provided for by law, and applicable to such appropriation, or expenditure, unless the Legislative Assembly making such appropriation shall provide for levying sufficient
NORTH DAKOTA. 174. XI. The Legislative Assembly shall
provide for raising revenue sufficient to defray the expenses of the State for each year, not to exceed in any one year four (4) mills on the dollar of the assessed valuation of all taxable property in the State, to be ascertained by the last assessment made for State and county purposes, and also a sufficient sum to pay the interest on the State debt.
OHIO. 8. VIII. The Auditor of State, Secretary
of State and Attorney-General are hereby created a board of commissioners, to be styled, "The Commissioners of the Sinking Fund."
WASHINGTON. 1. VII. All property in the State, not ex.
empt under the laws of the United States, or under this Constitution, shall be taxed in proportion to its value to be ascertained as provided by law. The Legislature shall provide by law for an annual tax sufficient, with other sources of revenue, to defray the estimated ordinary expenses of the
Section 1. Corporations may be formed
be formed under general
2 laws; but shall not be created by special act, except for
3 municipal purposes, and in cases 'where, in the judgment of 4 the Legislature, the objects of the corporation cannot
5 attained under general laws. All general laws and special acts
6 passed pursuant to this section may be altered from time to
7 time or repealed.
Constitution, or any that may hereafter be created, whenever, in their opinion, it may be inJurious to the citizens of this State, in such manner, however, that no injustice shall be dono to the corporators.
ALABAMA. 1. XIV. Corporations may be formed un
der general laws, but shall not be created by special act, except for municipal, manufacturing, mining, Immigration, industrial and educational purposes, or for constructing canals, or improving navigable rivers and harbors of this State, and in ca es, where, in the judgment of the General Assembly, the objects of the corporation cannot be attained under the general laws. All general laws and special acts passed pursuant to this section may be altered, amended and repealed.
CALIFORNIA. 6. XI. Corporations for municipal pur.
poses shall not be created by special laws; but the Legislature, by general laws, shall provide for the incorporation, organization, and classification, in proportion to population, of cities and towns, which laws may be altered, amended, or repealed. Cities and towns heretofore organized or incorporated may be. come organize under such general laws whenever a majority of the electors voting at a general election shall so determine, and shall organize in conformity therewith; and all cities or towns heretofore or hereafter organ. ized, and all charters thereof framed or adopted by authority
ARKANSAS. 6. ΧΙΙ. . Corporations may be formed under
general laws, which laws may, from time to time, be altered or repealed. The General Assembly shall have the power to alter, revoke or annul any charter of Incorporation now existing and revokable at the adoption of this
Creation of Corporations.
of this Constitution, shall be subject to and controlled by
general laws. 1. XII. Corporationis тау be formed
under general laws, but shall not be created by special act. All laws now in force in this State concerning corporations, and all laws that may be hereafter passed pursuant to this section, may be altered from time to time or repealed.
LOUISIANA. 247. General laws shall be enacted pro
viding for the creation of private corporations, and shall therein provide fully for the adequate protection of the public and of the individual stockholder.
MAINE. 14. IV. Corporations shall be formed un
der general laws, and shall no: be created by special acts of the Legislature, except for municipal purposes, and in cases where the objects of the corporation cannot otherwise be attained; and, however formed, they shall forever be subject to the general laws of the State.
ILLINOIS. 1. XI. No corporation shall be created by
special laws, or its charter extended, changed or amended, except those for charitable, educational, penal or reformatory purposes, which are to be and remain under the patronage and control of the State, but the General Assembly shall provide, by general laws, for the organization of all corporations here. after to be created.
INDIANA. 13. XI. Corporations, other than banking,
shall not be created by special act, but may be formed under general laws.
IOWA. 1. VIII. No corporation shall be created by
special laws; but the General Assembly shall provide, by general laws, for the organization of all corporations hereafter to be created, excepted as hereinafter provided.
MARYLAND. 48. VIII. Corporations may be formed un
der general laws, but shall not be created by special act, except in cases where no general laws exist, providing for the creation of corporations of the same general character as the corporation proposed to be created, and any act of incorporation passed in violation of this section shall be void; all charters granted or adopted in pursuance of this section, and all charters heretofore granted and created subject to repeal or modification, may be altered from time to time, or be repealed; provided, nothing herein contained shall be construed to extend to banks, or the incorporation thereof; the General Assembly shall not alter amend the charter of any corporation existing at the time of the adoption of this article, or pass any other general or special law for the benefit of such corporation, except upon the condition that such corporation shall surrender all claims to ex
KANSAS. 1. XII. The Legislature shall pass
no special act conferring corporate powers. Corporations may be created under general laws; but all such laws may be amended or repealed.