Article 13. - Indebtedness.
Section 1. No political or municipal corporation in this State shall
ever become indebted, in any manner or for any purpose to an amount,
in the aggregate, exceeding two per centum on the value of the taxable
property within such corporation, to be ascertained by the last
assessment for State and county taxes, previous to the incurring of such
indebtedness; and all bonds or obligations, in excess of such amount,
given by such corporations, shall be void: Provided, That in time of
war, foreign invasion, or other great public calamity, on petition of a
majority of the property owners in number and value, within the limits
of such corporation, the public authorities, in their discretion, may
incur obligations necessary for the public protection and defense to
such amount as may be requested in such petition.
(History: As Amended March 14, 1881).
Section. 2.
(History: Repealed March 14, 1881).
Section 3.
(History: Repealed March 14, 1881).
Section 4.
(History: Repealed March 14, 1881).
