Provisions
VIII.13 proposed for 1870 • Limits on deficiency loans.
REJECTED
The Text
No deficiency loan shall be made for a longer period than is necessary to enable the sinking fund, provided for its payment, to accumulate an amount sufficient to discharge it ; and in no case shall such loan be made for more than six years.
A Few Facts
• Has 45 words
• Was proposed by the Constitutional Convention
• Went to NYS voters as proposed amendment 1 of 1869
If New Yorkers voted to approve this provision, it would have:
• Joined the Constitution in 1870
• Been in Article VIII:
• Been a new addition
Credits
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