§ Amend. 18. Tax to Aid Industries

Currency:Current through the 91st General Assembly, First Extraordinary Session

City tax. - It being most apparent that factories, industries and transportation facilities are necessary for the development of a community and for the welfare of its inhabitants, a special tax not exceeding five mills on the dollar of all taxable property in cities of the first class located in counties now or hereafter having not less than one hundred five thousand population, in addition to other taxes now provided by law, may be levied in such cities for the period that may be provided by law, when petitioned for by ten per cent of the owners of real property in such city and on consent of a majority of the electors of such city voting on the question.

The proceeds of such tax shall be expended by a board of three commissioners, each of whom shall be taxpayer in such city, said commissioners, to serve for such term as may be provided by law without compensation, except actual expenses. One of the commissioners shall be selected by a majority of the judges of the Supreme Court, sitting as a board, one by a majority of the judges of the Circuit, County and Chancery Courts of the county, sitting as a board, and one by a majority of the banks and trust companies located in such city whose representatives shall sit as a board. Where there are two such cities in such county and the tax herein provided for has been voted in each, one board of commissioners may be appointed for both cities if a majority of the boards having the appointive power deem best, and in that event a majority of the banks and trust companies in both cities shall appoint one commissioner, and the proceeds of the tax shall be expe...

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