Holford Bonds Not To Be Paid
This highly unusual article (added by Amendment 1) prohibits the General Assembly from making appropriations for payment of principal and interest on several bond issues from 1869 to 1871, commonly referenced as Holford bonds, which were passed during Reconstruction by a Union-dominated General Assembly, some of which refinanced disputed debt from shortly after Arkansas' statehood in 1836. These bonds had been central to the Brooks-Baxter War.
Read more about this topic: Constitution Of Arkansas
Famous quotes containing the words bonds and/or paid:
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