Constitution Of The State Of Arkansas Of 1874.

Amend. 62. Local Capital Improvement Bonds.

§ 1. Local capital improvement bonds authorized - Election - Taxes - Limit on indebtedness - Suspension of tax levy.

§ 2. Issuance of bonds to secure and develop industry - Levy of tax - Suspension of collection - Limit on tax levy.

§ 3. Sale of bonds - Procedure.

§ 4. Maximum rate of tax stated on ballot - Borrowing prior to issuance of bonds.

§ 5. Special tax constitutes special fund - Disbursement of surplus.

§ 6. Conduct of elections.

§ 7. Provisions self-executing.

§ 8. Taxes levied and bonds authorized prior to amendment.

§ 9. Joint project of various governing bodies - Compact agreement elections.

Publisher's Notes. With respect to the requirement for approval of bond issues, this amendment may be superseded by Ark. Const. Amend. 65.

This amendment was proposed by H.J.R. No. 1 (See Acts 1983, p. 2305) and filed in the office of the Secretary of State on Mar. 29, 1983. It was approved at the general election on Nov. 6, 1984, by a vote of 395,336 for and 342,404 against.

Ark. Const. Amend. 62, § 11, repealed Ark. Const. Amends. 13, 17, 25, and 49.