Article 9 Section 8 - Local debt limits; assent of taxpayers
8. Local debt limits; assent of taxpayers
Section 8. (1) No county, city, town, school district, or other
municipal corporation shall for any purpose become indebted in any manner to
an amount exceeding six per centum of the taxable property in such county,
city, town, school district, or other municipal corporation, without the
assent of a majority of the property taxpayers, who must also in all respects
be qualified electors, therein voting at an election provided by law to be
held for that purpose, the value of the taxable property therein to be
ascertained by the last assessment for state and county purposes, previous to
incurring such indebtedness; except, that in incorporated cities and towns
assessments shall be taken from the last assessment for city or town purposes;
provided, that under no circumstances shall any county or school district
become indebted to an amount exceeding fifteen per centum of such taxable
property, as shown by the last assessment roll thereof; and provided further,
that any incorporated city or town, with such assent, may be allowed to become
indebted to a larger amount, but not exceeding twenty per centum additional,
for supplying such city or town with water, artificial light, or sewers, when
the works for supplying such water, light, or sewers are or shall be owned and
controlled by the municipality, and for the acquisition and development by the
incorporated city or town of land or interests therein for open space
preserves, parks, playgrounds and recreational facilities, public safety, law
enforcement, fire and emergency services facilities and streets and
transportation facilities.
(2) The provisions of section 18, subsections (3), (4), (5) and (6) of
this article shall not apply to this section.