Does the wording of Secs. 6 and 31 of Proposal E allow the issue of bonds with a pledge of full faith and credit after the effective date of this amendment without a vote of the people when such bonds are authorized under statutes existing before the effective date of this act whose provisions did not require a vote of the people and allow the pledge of unlimited taxing authority?

'Sec. 6. Except as otherwise provided in this constitution, the total amount of general ad valorem taxes imposed upon real and tangible personal property for all purposes in any one year shall not exceed 15 mills on each dollar of the assessed valuation of property as finally equalized. Under procedures provided by law, which shall guarantee the right of initiative, separate tax limitations for any county and for the townships and for school districts therein, the aggregate of which, shall not exceed 18 mills on each dollar of such valuation, may be adopted and thereafter altered by the vote of a majority of the qualified electors of such county voting thereon, in lieu of the limitation hereinbefore established. These limitations may be increased to an aggregate of not to exceed 50 mills on each dollar of valuation, for a period of not to exceed 20 years at any one time, if approved by a majority of the electors, qualified under Section 6 of Article II of this constitution, voting on the question.

'The foregoing limitations shall not apply to taxes imposed for the payment of principal and interest on bonds APPROVED BY THE ELECTORS or other evidences of indebtedness APPROVED BY THE ELECTORS or for the payment of assessments or contract obligations in anticipation of which bonds are issued APPROVED BY THE ELECTORS, which taxes may be imposed without limitations as to rate or amount; OR, SUBJECT TO THE PROVISIONS OF SECTIONS 25 THROUGH 34 OF THIS ARTICLE, to taxes imposed for any other purpose by any city, village, charter county, charter township, charter authority, or other authority, the tax limitations of which are provided by charter or by general law.

'In any school district which extends into two or more counties, property taxes at the highest rate available in the county which contains the greatest part of the area of the district may be imposed and collected for school purposes throughout the district.'

'Sec. 31. Units of Local Government are hereby prohibited from levying any tax not authorized by law or charter when this section is ratified or from increasing the rate of an existing tax above that rate authorized by law or charter when this section is ratified, without the approval of a majority of the qualified electors of that unit of Local Government voting thereon. If the definition of the base of an existing tax is broadened, the maximum authorized rate of taxation on the new base in each unit of Local Government shall be reduced to yield the same estimated gross revenue as on the prior base. If the assessed valuation of property as finally equalized, excluding the value of new construction and improvements, increases by a larger percentage than the increase in the General Price Level from the previous year, the maximum authorized rate applied thereto in each unit of Local Government shall be reduced to yield the same gross revenue from existing property, adjusted for changes in the General Price Level, as could have been collected at the existing authorized rate on the prior assessed value.

'The limitations of this section shall not apply to taxes imposed for the payment of principal and interest on bonds or other evidence of indebtedness or for the payment of assessments on contract obligations in anticipation of which bonds are issued which were authorized prior to the effective date of this amendment.' (Emphasis added)

'The proposed amendment would:

'1. Limit all state taxes and revenues, excepting federal aid, to its current proportion of total state personal income and to provide for exception for a declared emergency.

'2. Prohibit local government from adding new or increasing existing taxes without voter approval.

'3. Prohibit the state from adopting new or expanding present local programs without full state funding.

'4. Prohibit the state from reducing existing level of aid to local governments, taken as a group.

'5. Require voter approval of certain bonded indebtedness.' (Emphasis added)

'Whether the money borrowed is or is not to be used for operating expenses, 'taxes imposed' to retire all such borrowing may be levied without limit as to rate or amount, subject only to legislative restriction, if any. I hold then, though loath, that Division 1 was right when it concluded (24 Mich App at 395, 396):

"We find that although plaintiffs' contentions as regard the 15-mill tax limitation would be correct if we were still acting under Const 1908, art 10, Sec. 21 (See Township of Southfield v Drainage Board for Twelve Towns Relief Drains (1959), 357 Mich 59, under the present constitutional provisions, Const 1963, art 9, Sec. 6, however, the limitation does not apply to taxes levied to discharge bonded indebtedness."

'Behold the dismal end of that great effort of a beset and embittered people who, in the property tax crisis of 1932, rose up and successfully initiated the since battered and now extinct Sec. 21 of the tenth article of the former constitution. To one who lived through that crisis and the property tax moratorium effected by 1934 PA (Ex Sess) 11, and through the tragic sales of property which finally took place pursuant to the land board act of 1937 (No 155), it is not difficult to predict that, sooner doubtless than later, the people will have to repeat their initiatory action of 1932 lest they endure again what this Court--unaided at the time by legislation--had to stop on March 1, 1933, that is, the annual sale for unpaid taxes of more than half the taxable property in Michigan. See Thompson v Auditor General, 261 Mich 624 (1933), particularly the reporter's footnote 628.'

'. . . units of local government are hereby prohibited from levying any tax not authorized by law or charter when this section is ratified or from increasing the rate of an existing tax above that rate authorized by law or charter when this section is ratified, without the approval of the majority of the qualified electors of that unit of local government voting thereon . . .,'