(d) The cumulative total of monies appropriated to provide a revolving investment fund shall never exceed one percent (1%) on the assessed value of the taxable property in the state as shown by the last preceding general assessment for taxation.
(e) Notwithstanding the limitation of subsection (d) of this section, earnings on the revolving investment fund shall be added to the revolving investment fund and shall be invested as provided in this section.
This section was added by an amendment proposed by the 1986 legislature, ratified by a vote of the people at the general election held on November 4, 1986, and proclaimed in effect on November 18, 1986.
Sec. 13. Industrial and economic development; powers of counties and municipalities. Notwithstanding any other provision in this constitution, the legislature may authorize counties or incorporated municipalities, to appropriate from local sources of revenue such funds as may be deemed necessary for an economic or industrial development project or program, public or private, subject to approval by a vote of the majority of the registered voters of the county or municipality voting upon the question. For purposes of this section, “funds from local sources of revenue” means funds raised from general taxes levied by the county or municipality and shall not include any funds received by the county or municipality which are derived from state or federal sources.
This section was added by a resolution proposed by the 2004 legislature, ratified by a vote of the people at the general election held on November 2, 2004 and proclaimed in effect on November 10, 2004.
ARTICLE 17
STATE MILITIA
Sec. 1. Of whom militia constituted. The militia of the state shall consist of all able-bodied qualified residents of the state, and those nonresidents who are accepted into service, between the ages of seventeen (17) and seventy (70) years; except those exempted by the law of the United States or of the state. But all residents having scruples of conscience averse to bearing arms shall be excused therefrom upon conditions as shall be prescribed by law.
This section was amended by a resolution adopted by the 1999 legislature, ratified by a vote of the people at the general election held on November 7, 2000, and proclaimed in effect on November 15, 2000.
Sec. 2. Legislature to provide for enrollment, equipment and discipline. The legislature shall provide by law for the enrollment, equipment
