The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1874-05-08
ARTICLE XIV.
FINANCE AND TAXATION.

the collection Of specific taxes from banking,
railroad and plank-road corporations, and
may. in it's discretion, impose specific taxes
upon other corporations, and upon any prop
erty or business within this State but when a
specific tax is imposed upon corporation. it
shall only apply to such property of the cor
poration as shall be necessary for the exercise
of it's corporate franchises.
Sec 2. All specific State taxes received from
corporations, except mining companies OF the
upper peninsula, shall be applied in paying
the interest upon the primary school, univers-
ity and other educational funds, and the in
terest and principal of the State debt. in the
order herein recited, until the extingushment
of the State debt other than the amounts due
to educational funds, when such specific taxes
shall be added to and constitute part of the
primary school interest fund.
Sec. 3. The Legislature shall provide for an
annual tax, sufficient, with other resources, to
| pay the estimated expenses of the State Gov
eminent, the interest of the State debt, and
such deficiency as may occur III the resources.
Sec. 4. Every law hereafter enacted by the
Legislature, creating debt or authorizing a
loan, shall provide a sinking fund for the pay
ment of the same.
Sec. 5. The unfunded debt shall not be
funded or redeemed at value exceeding that
established by law in the year one thousand
eight hundred and forty-eight.
Sec 6. The State may contract debts to
/
not IN the aggregate at any time exceed fifty
thousand dollars The moneys SO raised shall
be applied to the purposes for which they
were obtained, or TO the payment of the debts
so contracted.
Sec T. The State may contract debts to re-
! pei invasion, suppress instruction, defend
| the State, or aid the United States in time of
war. The money arising from the contracting
of such debts shall be applied to the purposes
for which 1t was raised, or to pay such debts.
Sec. 8. No money shall be paid out of the
State Treasury, except in pursuance of APP
preparations made by law. The Legislature
shall provide by law for barring all claims
against the State, unless presented within a
time to be therein fixed.
Sec. 8. The State shall not aid, by gift or
| pledge of its credit, any person or corpora
| ton, nor shall it subscribe to, or become in
terested IN, the stock of any corporation, nor
assume any indebtedness Of a municipal OF
| Gotherl corporation. The provisions of this
section shall not apply to educational, char
table, reformatory, or penal institutions
which are or may be under the care and con-
tfol of the State.
Sec. 10. No scrip, certificate or other evi.
dence OF State indebtedness shall be iss ued
except for the redemption of stock previously
issued, or for such debts as are expressly au.
thorized by this Constitution.
Sec. IL. The State shall not be party to oil
be interested in any work of internal improve
ment, except the ship canal at the Sault Ste
Marie, and the Portage Lake and Lake Su
perior Ship Canal, nor engage in carrying OF
any such work, otherwise than in the expendi
ture of grants to the State OF land or othe
property.
Sec. II. The Legislature shall provide
uniform rule of taxation, except on propert,
or business paying specific taxes Taxes shal
be levied on all property except such IA ma,
be exempted by law
Sec. IL. All assessments hereafter author
lied shall be on property at it's cash value.
Sec. Ia The Legislature shall provide 70
an equalization by a State Board in the yea
one thousand eight hundred and seyenty-six
and every fifth year thereafter, Of assessment
on all taxable property except that payinl
specific taxes.
Sec. Is. Every law which imposes, continue
or revives tax, shall distinctly state the tax
and the object TO which it il to be applied
and IT shall not be sufficient to refer to an
other law to fix such tax object
NoTE.-All of Section after the word corpoi
atoms where II first occurs, all of Section 4, an
the last sentence of Section are new. Section
Is substantially new, although represented to som
extent by Sections and of present Article XIV
The words, except the ship canal at the Sault ST
Marie and the Portage Lake and Lake Superic
ship Canal" In Section IL, and the words, &C