include agricultural property as defined by the General Assembly
by law.

Section 6.04. Equalization.

The State shall prescribe and administer uniform rules and
methods for determining property tax assessments. State funds
distributed to units of local government on the basis of assess-
ments of property shall be determined by assessments equalized
among those units, as prescribed by the General Assembly by law.

Section 6.05. Exemptions.

Exemptions with respect to any tax imposed by the State shall
be made pursuant to uniform rules within classes of property,
taxpayers, or events.

STATE DEBT AND GIFTS

Section 6.06. State Indebtedness.

The State shall have the power to incur indebtedness for any
public purpose in the manner and upon the terms and condi-
tions that the General Assembly may prescribe by law. Unless the
law authorizing the creation of an obligation includes an irre-
vocable pledge of the full faith and credit of the State, the obliga-
tion shall not be considered an indebtedness of the State and the
terms of this section shall not apply. If the law includes such a
pledge the obligation shall be secured by the unlimited taxing
power of the State and shall be subject to the terms of this sec-
tion. If at any time the General Assembly shall have failed to
appropriate and to make available sufficient funds to provide
for the timely payment of the interest and principal then due
upon all state indebtedness, it shall be the duty of the comptroller
to pay, or to make available for payment, to the holders of such
indebtedness from the first revenues thereafter received appli-
cable to the general funds of the State, a sum equal to such inter-
est and principal. All state indebtedness shall mature within fif-
teen years from the time when such indebtedness is incurred,
except that at the time of authorizing the indebtedness the

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