The Text

The legislature may authorize by law the creation of a debt or debts of the state, not exceeding in the aggregate three hundred million dollars, to provide moneys for the elimination, under state supervision, of railroad crossings at grade within the state, at the expense of the state, railroad companies, counties and cities, as hereinafter provided. Of the expense of a grade crossing elimination to which any of the proceeds of such a debt are applied, fifty percentum shall be borne by the railroad company. The remaining flfty per centum shall be borne by the state and the county in which the crossing is located, or by the state and the city in which it is located if the city contain two or more counties; except that if so provided by law, such remaining fifty per centum of the expense of elimination of a grade crossing in any other city hall be borne by the state, the county and such city. The proportions of the expense of a grade crossing elimination to be borne by the state and county, state and city, or state, county and city, under the provisions of this section, shall be determined by or pursuant to law. Laws shall be enacted to provide, so far as practicable, for repayment to the state of moneys advanced in aid of railroad companies, counties and cities, at such times, in such manner and with interest at such rate, that the state shall be able to pay when due the portion of the state debt equal to the proceeds which shall have been so advanced, and interest thereon. The provisions of this article, not inconsistent with this section, relating to the issuance of bonds for a debt or debts of the state and the maturity and payment thereof, shall apply to a state debt or debts created pursuant to this section; except that the law authorizing the contracting of such debt or debts shall take effect without submission to the people pursuant to section four of this article. The aggregate amount of a state debt or debts which may be created pursuant to this section, as hereby amended, shall not exceed the difference between the amount of the debt or debts heretofore created or authorized by law, under the former provisions of this section, and the sum of three hundred million dollars; and the legislature, by law, may authorize or require a county to bear all or part of the portion of the expense of any such crossing elimination, heretofore begun or authorized, which was imposed by former provisions of this section on a city, town or village therein.