Section 4. Payment of interest on public debt

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Payment of interest off public debt

Summary: Repealed

Election Date: August 7, 1873

Votes For Ratification: 74,731

Votes Against Ratification: 28,634

Percent for Ratification: 72%

Percent Against Ratification: 28%

Notes: Affected both Article I, Section 6 & Article V, Section 4 The effective date of the 1873 amendments was the date of the canvass—by November 17, 1873, it seemed clear that the amendments had passed, but the official returns were not yet tallied. (Journal of the Senate 1873-74) Given that the Senate proceeded as though the amendments had passed, we use that date as an approximate effective date.

Amendment Source: 1872 73 Chap 85

Effective Date Source: See additional notes

Payment of interest on public debt

The General Assembly shall, by appropriate legislation and by adequate taxation, provide for the prompt and regular payment of the interest on the public debt, and after the year 1880, it shall lay a specific annual tax upon the real and personal property of the State, and the sum thus realized shall be set apart as a sinking fund, to be devoted to the payment of the public debt.

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