Kentucky Const. art. The Legislative Department, § 49

Kentucky Constitution

Article The Legislative Department, § 49 — Power to contract debts — Limit

This text of Kentucky Const. art. The Legislative Department, § 49 (Power to contract debts — Limit) is published on Counsel Stack Legal Research, covering Kentucky primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

JurisdictionKentucky DocumentConstitution

ArticleThe Legislative Department

Section§ 49

CitationKentucky Const. art. The Legislative Department, § 49

Bluebook

Ky. Const. art. The Legislative Department, § 49.

Full Text

The General Assembly may contract debts to meet casual deficits or failures in the revenue; but such debts, direct or contingent, singly or in the aggregate, shall not at any time exceed five hundred thousand dollars, and the moneys arising from loans creating such debts shall be applied only to the purpose or purposes for which they were obtained, or to repay such debts: Provided, The General Assembly may contract debts to repel invasion, suppress insurrection, or, if hostilities are threatened, provide for the public defense.

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The General Assembly may contract debts to meet casual deficits or failures in the revenue; but such debts, direct or contingent, singly or in the aggregate, shall not at any time exceed five hundred thousand dollars, and the moneys arising from loans creating such debts shall be applied only to the purpose or purposes for which they were obtained, or to repay such debts: Provided, The General Assembly may contract debts to repel invasion, suppress insurrection, or, if hostilities are threatened, provide for the public defense.

History

Text as Ratified on: August 3, 1891, and revised September 28, 1891. History: Not yet amended.

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Bluebook (online)

Kentucky Const. art. The Legislative Department, § 49, Counsel Stack Legal Research, https://law.counselstack.com/constitution/ky/The Legislative Department/49.