Provisions
VII.2 of 1921 • State debts, power to contract.
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; bonds 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 the taxes and revenues within one year from the date of issue.
A Few Facts
• Joined the Constitution in 1921
• In Article VII: State Finance; Forest Preserve; Canals
• Has 67 words
• Was proposed by the Legislature
• Went to NYS voters as proposed amendment 1 of 1920
• Is a new addition
• Amends or builds on:
◦ 1895-VII.2
◦ 1919-VII.4
Credits
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