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SEc. 4. The claims of the State against any incorporated company to pay the interest and redeem the principal of the stock of the State loaned or advanced to such company, shall be fairly enforced, and not released or compromised ; and the moneys arising from such claims shall be set apart and applied as part of the sinklng fund provided in the second section of this article. But the time limited for the fulfilment of any condii. of any release or compromise heretofore made or provided for, may be extended by àW.
SEC. 5. If the sinking funds, or either of them, provided in this article, shall prove insufficient to enable the State, on the credit of such fund, to procure the means to satisfy the claims of the creditors of the State as they become payable, the Legislature shall, by equitable taxes, so increase the revenues of the said funds as to make them, respectively, sufficient perfectly to preserve the public faith. Every contribution or advance to the canals, or their debt, from any source, other than their direct revenues, shall, with quarterly interest, at the rates then current, be repaid into the Treasury, for the use of the State, out of the canal revenues as soon as it can be done consistently with the just rights of the creditors holding the said canal debt.
SEc. 6. The Legislature shall not sell, lease, or otherwise dispose of any of the canals
of the State ; but they shall remain the preperty of the State, and under its management forever.
SEC. 7. The Legislature shall never sell or dispose of the salt springs, belonging to this State. The lands contiguous thereto, and which may be necessary and convenient for the use of the salt springs, may be sold by authority of law, and under the direction of the commissioners of the land office, for the purpose of investing the moneys arising therefrom in other lands alike convenient ; but by such sale and purchase the aggregate quantity of these lands shall not be diminished.
SEC. 8. No moneys shall ever be paid out of the Treasury of this State, or any of its funds or any of the funds under its management, except in pursuance of an appropriation by law ; nor unless such payment be made within two years next after the passage of such appropriation act ; an ...' such law, making a new appropriation, or continuing or reviving an appropriation, shall distinctly specify the sum appropriated, and the object to which it is to be applied ; and it shall not be sufficient for such law to refer to any other law to fix such sum.
SEg, 9. The credit of the State shall not, in any manner, be given or loaned to, or in aid of any individual association or corporation.
SEC. 10. The State may, to meet casual deficits or failures in revenues, or for expenses not provided for, contract debts, but such debts, direct and contingent, singly or in the aggregate, shall not, at any time, exceed one million of dollars; and the moneys arising from the loans creating such debts, shall be applied to the purpose for which they were obtained, or to repay the debt so contracted, and to no other purpose whatever.
SEc. 11. In addition to the above limited power to contract debts, the State may contract debts to repel invasion, suppress insurrection, or defend the State in war; but the money arising from the contracting of such debts shall be applied to the purpose for which it was raised, or to repay such debts, and to no other purpose whatever.
SEC. 12. Except the debts specified in the tenth and eleventh sections of this article no debt shall be hereafter contracted by or on behalf of this State, unless such debt shaft be authorized by a law, for some single work or object, to be distinctly specified therein: and such law shall impose and provide for the collection of a direct annual tax to pay, and sufficient to pay the interest on such debt as it falls due, and also to pay and dis. o orincipal of such debt within eighteen years from the time of the contracting thereof.
#. such law shall take effect until it shall, at a general election, have been submitted
to the people, and have received a majority of all the votes cast for, and against it, at such election. - - - - 9 On the final passage of such bill in either house of the Legislature, the question shall be taken by ayes and noes, to be duly entered on the journals thereof, and shall be: “Shall this bill pass, and ought the same to receive the sanction of the people o The Legislature may at any time, after the approval of such law by the people, if no debt shall have been contracted in pursuance thereof, repeal the same; and may 5 time, by law, forbid the contracting of any further debt or liability under such saw: but the tax imposed by such act, in proportion to the debt and liability which may have been contracted, in pursuange of such law, shall remain in force and be irrepealāble, and be annually collected, until the proceeds thereof shall have made the provision hereinbefore specified to pay and discharge the interest and principal of such debt and liability.
The money arising from any loan or stock creating such debt or liability, shall be applied to the work or object specified in the act authorizing such debt or liability, or for the repayment of such debt or liability, and for no other purpose whatever.
No such law shall be submitted to be voted on, within three months after its passage, or at any general election, when any other law, or any bill, or any amendment to the Constitution, shall be submitted to be voted for or against.
SEc. 13. Every law which imposes, continues or revives a tax, shall distinctly state the tax, and the object to which it is to be applied; and it shall not be sufficient to refer, to any other law to fix such tax or object.
SEc. 14. On the final passage, in either house of the Legislature, of every act which imposes, continues or revives a tax, or creates a debt or charge, or makes, continues or revives any appropriation of public or trust money or property or releases, discharges, or commutes any claim or demand of the State, the question shall be taken by ayes and noes, which shall be duly entered on the journals, and three-fifths of all the members elected to either house, shall, in all such cases, be necessary to constitute a quorum therein.