Provisions
VII.9 of 1939 • Short term state debts in anticipation of taxes, revenues and proceeds of sale of authorized bonds.
APPROVED
The Text
The state may contract debts in anticipation of the receipt of taxes and revenues, direct or indirect, for the purposes and within the amounts of appropriations theretofore made. Notes or other obligations for the moneys so borrowed shall be issued as may be provided by law, and shall with the interest thereon be paid from such taxes and revenues within one year from the date of issue.
The state may also contract debts in anticipation of the receipt of the proceeds of the sale of bonds theretofore authorized, for the purpose and within the amounts of the bonds so authorized. Notes or obligations for the money so borrowed shall be issued as may be provided by law, and shall with the interest thereon be paid from the proceeds of the sale of such bonds within two years from the date of issue.
A Few Facts
• Joined the Constitution in 1939
• In Article VII: State Finances
• Has 142 words
• Was proposed by the Constitutional Convention
• Went to NYS voters as proposed amendment 1 of 1938
• Changed the text of a previously existing provision
• Amends or builds on:
◦ 1921-VII.2
Credits
We did lots of research to publish this data, and we're updating the records to let you know where we got it. Check back soon for our sources!