Article The Legislative Department, § 50 — Purposes for which debt may be contracted — Tax to discharge — Public vote
This text of Kentucky Const. art. The Legislative Department, § 50 (Purposes for which debt may be contracted — Tax to discharge — Public vote) 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.
Full Text
No act of the General Assembly shall authorize any debt to be contracted on behalf of the Commonwealth except for the purposes mentioned in Section 49, unless provision be made therein to levy and collect an annual tax sufficient to pay the interest stipulated, and to discharge the debt within thirty years; nor shall such act take effect until it shall have been submitted to the people at a general election, and shall have received a majority of all the votes cast for and against it: Provided, The General Assembly may contract debts by borrowing money to pay any part of the debt of the State, without submission to the people, and without making provision in the act authorizing the same for a tax to discharge the debt so contracted, or the interest thereon.
Add this to your briefcase to access full text.
History
Cite This Page — Counsel Stack
Kentucky Const. art. The Legislative Department, § 50, Counsel Stack Legal Research, https://law.counselstack.com/constitution/ky/The Legislative Department/50.