Chap. 179.—An ACT to limit the Indebtedness of Cities and Towns.
Approved Masch 20, 1875.

1. Be it enacted by the general assembly, That hereafter
it shall not be lawful for any of the cities and towns of this
state, to create an indebtedness in excess, at any time, of
seventeen per centum of the assessed value, under the state
assessment laws, of the real, and fifteen per centum of the
personal property of any of said cities and towns: provided,
that this act shall not app 'y to any city or town whose char-
ter already determines the limit of aggregate indebtedness al-
lowed to be created by the same, except the town of Danville.

2. This act shall take effect from its passage.