Sturgis advertiser. (Sturgis, Dakota [S.D.]) 1887-1???, 1889-03-07

paving the public debt, the legislature shall
provide for feyyfng tai hnnuahy. snmeaene ~
s,lcn debt within ten years from the finai pas.
sage of the law creating the DEBT provided tnau
the annual tax for the payment OF the interest,"
end pncpa Of tns ms sac dollar Of
the assessed valuation of all taxable property
in the state as ascertatned BY the lass assess-
msnt made for state and county pnlpH h;a state
shall be uniform on all real ana personal p1op-
erty, according to its value IN money. 20 De
ascertsined by such rules q iag,aia
ture by general law, 30 that every person ana an
corporation shall pay q tax in proportion 70 tne
value Of his. her Or its property: -, a.,srol
And the legislature shall provide by general
Law for the assessing and levying OF taxes on AZ
corporation property. as near as may pc py INC
came methods as are provided for the ASSESSING
and levying of taxes on individual property.
FEC 8. The power to tax corporations ana
corporate property shall not be surrendered or
suspended by any contract or grant to which
SEC. l. The legislature shall provide for tax
ing all moneys credits. investments in bonds,
stocks, joint stock companies, or otherwise;
and also for taxing the notes and bills dis
counted or purchased moneys loaned, and all
other property, effects or dues of every descrip,
ton, OF oil banks and of all bankers, SO that All
property employed In banking shall always be
subject to q taxation equal to that imposed on
the property of individuals.
SEC. s. The property of the United States and
OF Lu6 btAte, county NoAFSAe.
tions, both real and personal shall be exempt
from taxation.
SEC. 8. The legislature shall, by general law,
exempt from taxation property used exclusively
for agricultural and horticultural societies, for
schools, religious, cemetery and charitable pur-
poses, and personal property to any amount
not exceeding in value two hundred dollars Tor
each individual liable to taxation.
SEC. Z. All laws exempting property from taxa
tion, other than that enum Grated in sections
Ave and six of his article, shall be void.
SEC 8. No tax shall be lowed except in pur-
suance of a law, which shall distinctly state
the object of the same, to which the tax only
shall be applied.
purposes shall be paid into the state treasury.
No indebtedness shall be incurred or money ex-
pended by the state and no warrants shall be
drawn upon the state treasury except In pursu-
ance of an appropriation for the specific pur-
pose FIRST made. The legislature shall provide
by suitable enactment for carrying this section
into effect.
SEC 10. The legislature may vest the corpo-
rate authority Of cities, towns and villages,
with power to make local improvements by
special taxation of contiguous property or
otherwise. For all corporate purposes, all
municipal corporations may be vested with
authority to assess and collect taxes but such
tax shall be uniform in respect to persons and
property wishin the Jurisdiction OF the body
leyying the same.
Sec II. The making of profit, directly or in
diiectly, out of state, county, city, town or
school district money, or using the same for any
purpose not authorized by law, shall be deemed
felony and shall be punished as provided by
law.
SEC. 12 An accurate statement of the receipts
and expenditures of the public moneys shall be
published annually. in such manner as tho
legislature may provide.