Debt Authoriza-
tion : General
Assembly; re-
quirements and
limitations;
Board of Public
Works; public
defense.
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Sec. 34. No debt shall be
hereafter contracted by the
General Assembly unless
such debt shall be authorized
by a Law providing for the
collection of an annual tax,
or taxes, sufficient to pay
the interest on such debt as
it falls due, and also to dis-
charge the principal thereof
within fifteen years from the
time of contracting the
same; and the taxes laid for
this purpose shall not be re-
pealed or applied to any
other object until the said
debt and interest thereon
shall be fully discharged.
The credit of the State shall
not in any manner be given,
or loaned to, or in aid of
any individual, asspciation or
cprp'oration; nor shall the
General Assembly have the
power in any mode to in-
volve the State in the con-
struction of Works of In-
ternal Improvement, nor in
granting any aid thereto,
which shall involve the faith
or credit of the State; nor
make any appropriation
therefor, except in aid of the
construction of Works of
Internal Improvement in the
counties of St. Mary's, Char-
les and Calvert, which have
had no direct advantage
from such Works as have
been heretofore aided by the
State; and provided, that
such aid, advances or appro-
priations shall not exceed in
the aggregate the sum of five
hundred thousand dollars.
And they shall not use or
appropriate the proceeds of
the Internal Improvement
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Sec. 34. No debt shall be
hereafter contracted by the
General Assembly, unless
such debt shall be authorized
by a Law, providing for the
collection of an annual tax,
or taxes, sufficient to pay
the interest on such debt, as
it falls due; i.nd also, to dis-
charge the principal there-
of, within fifteen years from
the time of contracting the
same; and the taxes, laid for
this purpose, shall not be
repealed, or applied to any
other object, until the said
debt, and interest thereon,
shall be fully discharged.
The credit of the State shall
not in any manner be given,
or loaned to, or in aid of any
individual, association, or
corporation; nor shall the
General Assembly have the
power, in any mode, to in-
volve the State in the con-
struction of Works of Inter-
nal Improvement, nor in
granting any aid thereto,
which shall involve the faith,
or credit of the State; nor
make any appropriation
therefor, except in aid of the
construction of Works of In-
ternal Improvement, in the
counties of Saint Mary's,
Charles and Calvert, which
have had no direct advan-
tage, from such Works, as
have been heretofore aided
by the State; and provided,
that such aid, advances, or
appropriations shall not ex-
ceed in the aggregate the
sum of five hundred thou-
sand dollars. And they
shall not use, or appropriate
the proceeds of the Internal
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Sec. 33. No debt shall be
hereafter contracted by the
General Assembly, unless
such debt shall be authorized
by a law providing for the
collection of an annual tax
or taxes sufficient to pay the
interest on such debt as it
falls due, and also to dis-
charge the principal thereof
within fifteen years from the
time of contracting the same,
and the taxes laid for this
purpose shall not be repealed
or applied to any other ob-
ject until the said debt and
interest thereon shall be
fully discharged. The credit
of the State shall not, in any
manner, be given or loaned
to, or in aid of any indivi-
dual, association or corpora-
tion, nor shall the General
Assembly have the power in
any mode to involve the
State in the construction of
works of internal improve-
ment, nor in any enterprise
which shall involve the faith
or credit of the State, nor
make any appropriations
therefor. And they shall not
use or appropriate the pro-
ceeds of the internal im-
provement companies, or of
the State tax now levied, or
which may hereafter be |
levied, to pay off the public
debt, to any other purpose
until the interest and debt
are fully paid, or the sinking
fund shall be equal to the
amount of the outstanding
debt; but the General Assem-
bly may, without laying a
tax, borrow an amount never
to exceed fifty thousand dol-
lars, to meet temporary defi-
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Sec. 22. No debt shall
hereafter be contracted by
the Legislature, unless such
debt shall be authorized by
a law providing for the col-
lection of an annual tax or
taxes sufficient to pay the
interest on such debt as it
falls due, and also to dis-
charge the principal thereof
within fifteen years from the
time of contracting the same,
and the taxes laid for this
purpose shall not be repealed
or applied to any other ob-
ject until the said debt and
the interest thereon shall be
fully discharged, and the
amount of debts so con-
tracted and remaining un-
paid shall never exceed one
hundred thousand dollars.
The credit of the State shall
not, in any manner, be given
or loaned to or in aid of any
individual, association or
corporation, nor shall the
General Assembly have the
power, in any mode, to in-
volve the State in the con-
struction of works of internal
improvement, or in any en-
terprize which shall involve
the faith or credit of the
State, or make any appro-
priations therefor. And they
shall not use or appropriate
the proceeds of the internal
improvement companies, or
of the State Tax now levied,
or which may hereafter be
levied, to pay off the public
debt, to any other purpose,
until the interest and debt
are fully paid, or the sinking
fund shall be equal to the
amount of the outstanding
debt; but the Legislature
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Proposed by Act of 1840,
chapter 55. Ratified 1841.
It shall not be lawful for
the legislature of this State
to authorize any loans upon
the credit of this State which
are not redeemable at the
pleasure of the State until
the proposed loans are sanc-
tioned by an act passed at
the Session of the General
Assembly next succeeding
that at which they are pro-
posed and passed, so that
the opinion of the people of
the State may be expressed
thereon.
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