Article 13.
Public Indebtedness

Section 5.

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Local Government Debt

The legislature shall by law limit debts of counties, cities, towns, and all other local governmental entities.

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1889 — Article 13. Section 5

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1889 — Article 13. Section 6

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No county shall be allowed to become indebted in any manner, or for any purpose, to an amount, including existing indebtedness, in the aggregate, exceeding five (5) per centum of the (value of the) taxable property therein, to be ascertained by the last assessment for State and county taxes previous to the incurring of such indebtedness, and all bonds or obligations in excess of such amount given by, or on behalf of such county shall be void. No county shall incur any indebtedness or liability for any single purpose to an amount exceeding ten thousand dollars ($10,000) without the approval of a majority of the electors thereof, voting at an election to be provided by law.