Custer chronicle. [volume] (Custer City, Black Hills, D.T. [S.D.]) 1880-1890, 1889-03-16
Article Xl,
REVENUE AND FINANCE.

Section |. rhe legislature shall provide for
an annual tax, sufficient to defray the estimat-
ed ordinary expenses OF the state for each year.
not to exceed In any one year two mills on each
dollar OF the assessed valuation OF all taxable
property in the 81 ate. To be ascertaiued by the
last assessment made Tor state and county pur-
poses. And whenever il shall appear that such
ordinary expenses shall exceed the income of the
state Tor such year the legislature shall provide
for levying a tax for the ensuing year, sufficient
with other resources OF income To pay the def
cheney oil the preceding year together with the
estimated expenses OF such ensuing year. And
Tor the purpose CT paying the public debt, the
legislature shall provide Tor levying "A tax annu-
ally, sufficient to pay the annual Interest ana
the principal OF such debt within ten years from
the iinal passage OF the law creating the debt,
provided thai the annual tax for the payment
oi the interest and principal OF the public debt
shall not exceed III any one year two mills on
each dollar OF the assessed valuation OF all tax
able property i'll the state as ascertained by the
last assessment made Tor state and county pur-
poses.
See. =. All taxes TO be raised in this state
shall be uniform on all real and personal prop
erty. according to its value in money, To be as
certained by such rules of appraisement ana as
sessinent as may lie prescribed by the legislature
by generablaw, 50 that every person and cor
poration shall pay "A tax in proportion TO the
value of his, her or its property.
And the legislature shall provide by general
law FOR the assessing and levying OF taxes on all
corporation property, as near as may be by the
same methods AS are provided for the assessing
aha lev ill9 Oh taxes on inulNluull property
Sec. 3. The power TO tax corporations and
corporate property shall not be surrendered or
suspended by any contract or grant to which
the state shall be "A party.
See. 4. The legislature shall provide for tax
ing all moneys, credits, investments III bonds,
stocks, Joint stock companies, or otherwise; and
also for taxing the notes, and bills discounted
or purchased, moneys loaned. and all other
property, effects or dues of every description, OF
all banks and t. of all bankers, SO that all proper
~ employed in banking shall always be subject
to IA taxation equal TO that imposed on the
property of individuals.
sec. ). The property OF the United states
and OF the state, county aud municipal corpor-
atlOls, both real and personal, sha9 be exempt
from taxation.
Sec. g. The legislature shall, by general law,
exempt from taxation property Used exclusive
" Tor agricultural aud horticultural societies,
Tor schools, religious, cemetery anf charitable
purposes, and personal property to amy amount
not exceeding III value two hundred dollars for
each individual liable to taxation.
Sec. Z. AL laws ~eXempting property from
taxation, other than that enumerated IN SEQ
tons five and six OF this article, shall be void.
Sec. y. No tax shall be levied except in pur-
suance OF law, which shall distinctly state the
object of the same, TO which the tax only snail
be applied.
See. 8. All taxes levied and collected for state
purposes shall be paid INTO the state treasury.
No indebtedn,s IS shall be incurred or money ex-
pended by the state, and no warrants shall be
drawn upon the state treasury except Ill puIsu-
ance OF an appropriation for thespecificp purpose
first made. The legislature shall provide by
suitable enactment for carrying this section III
TO effect.
Sec. 10. The legislature may vest the corpor-
ate 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 cor
%porations may be vested with authority TO as
sess and collect taxes; but such tax shall be un-
| form in respect 70 persons and property within
the Jurisdiction OF the body levyiIE the same.
See. IL. The making OF profit, directly or in
directly, out of state, comfy, city, town or
school district money, or using the same for any
purpose not authorized by law, shall be deemed
a:.e!ony and shall be punished as provided 10y
law.
Sec. IL. An accurate statement OF the re
ceipts and expenditures OF the public moneys
shall b. published annually. in such 'nainer as
the LEGISLATURE may provide.