Lanterna Rally

Author: Thomas H. Glenn

Publisher: Rarebooksclub.com

Published: 2013-09

Total Pages: 286

ISBN-13: 9781230157382

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1867 edition. Excerpt: ... aid to any one railroad, shall exceed five per cent, of the assessed valuation of such city or township, and not to exceed ten per cent, for any two or more railroads. The question of such aid must be submitted to a vote of the people, and no person shall be entitled to vote at any submission of such question, unless he shall be the owner of property liable to taxation. No county shall be authorized to vote such tax or aid." The substitute, by consent, was withdrawn. The amendment of Mr. Stoughton, being entertained by unanimous consent, as a substitute for section 27, was modified so as to read as follows: " The Legislature shall not authorize any city or township to raise money by taxation, or to pledge their credit for the purpose of aiding in the construction of any railroad, to an extent whereby the tax raised or to be raised, or the indebtedness incurred, exclusive of interest, on account of aid to any and all railroads, shall exceed, in any five years, or at any one time, ten per cent, of the assessed valuation of the taxable property of such city or township. No county shall be authorized to pledge its credit for any such purpose except in the Upper Peninsula. The question of such aid shall be submitted to a vote of the city or township to be affected thereby." The substitute was not adopted. The question being on the substitute offered by Mr. Ferris, for section 27, in the following words: " The Legislature shall not authorize any county, township, city or village, by vote of its citizens or otherwise, to become a stockholder in any joint stock company, corporation or association whatever, or to raise money for, or to loan its credit to, or in aid of any such company, corporation or association;" It was...