Little Falls weekly transcript. (Little Falls, Morrison Co., Minn.) 1894-19??, 1896-10-23

Investment Of the permanent school fnnd
and the permanent university fund 81 Ll .s
made when the issue of which the same 70
part would make the entire bonded as ~
debtedness exceed 7 per cent OF III 1ne pro ~.
erty t of the county, school district. city nS;
town or village issuing such bonds; nor
shall such loans or Indebtedness be maze "
lower rate Of interest t neSd Per than Ave
% years nor for a longer period tnan
twenty C2O years, ana no change OF tne
town. school district village city or eo sac
city in this state at the tine q tn issuing
Of such bonds from rom, any liability for taxa
The proposed amendment contemplates
the investment Of the permanent school ana
university funds Of the state, Tor p pa.,as
(2U years, in the bonds Of counties. school
districts, cities, towns and villages
Loans cannot be made to such mu ui,o,s
exceeding seven q ner cent OF tne as
sesscd valuation Of the taxable rsal property
thereof
No loan shall bear interest at a rate less
Section of the same article Of the con:
stitution now provides for the loaning OF
counties and school districts, to be used IN
the erection OF county or school buildings,
and to draw interest at the rate of 8 per
cent per annum. - -
Such loans are now limited to amounts not
exceeding three 81 per cent of the last pre-
ceding assessed valuation Of the real es-
tate Of the counties or school districts re-
Ample provision is made for the collection
of the principal and Interest OF loans made
pursuant to said section 5. g,
San act proposing an amendment to the
Of ha State Minnesota.
authorize the taxation Of the property OF
sleeping. drawing room and parlor car. ana
9 fasee nrpp1dss and in the manner
1t is proposed to amend Article D OF the
constitution Of Minnesota by adding thereto
a section reading IS follows:
1.-The legislature may Impose, or PROVIDE
for the imposition of. upon the properly
within this state, Of any and oil owners Or
operators, whether corporate or indiylduai,
or otherwise, of any ana all sleeping, parloS
and drawing room cars, or any or either dI
the same which run in. into or through this
state; also upon the property within TINS
companies, or owners, whose lines are IN.
or extend in, into or through this state;
also upon tn" properly within this state OF
or either Of the same. doing business In this
state of all Domestic INSURANCE companies
property within this state Of any and all
foreign insurance companies doing business
in this state OF any kind; also upon the
property within this state. OF all owners or
ores situated in this state; also upon the
property within this state OF all boom com
owners dong business in this state %. or
having a port therein; provided, that this
act shall not apply to property owned ny
raroH companies TIER lands a nc e 9ther
or any Of such companies or owners a tax,
as uniform as reasonably may be with the
taxes osed similar w fha
sV s s or bcth and IN provding for such
or in providing for .asccrtaining the just
competent for the legislature. In either or
all of such eases, to impose such tax, upon
any or all property thereof within TINS
basis Of such imposition the proportionate
business. earnings, mileage or quantity. OF
production or property now or hereafter
owners, transacted or existing In this state.
In relation to the entire business, mileage
or quantity Of production or property OF
aforesaid; or In such other manner, or BY
such other method as the legislature may
| determine; but the proceeds OF such taxes
between the state and the various political
subdivisions, thereof wherein the same is
situated in the came proportion as the pro-
tributed; provided further. that nothing in
this act contained shall operate to authorize
the assessment or taxation Of land or Ordi-
any such corporation, person. firm or com
pany except In the manner provided by the
ordinary methods Of taxation
IT THIS PROPOSED t. SRI
Sleeping, parlor and dining room car
companies.
2. Telegraph and telephone companies
T. Foreign and domestic insurance com.
panies
5. The owners or operators of mines or
g. Boom companies and sh!pbuilders or
owners doing business in this state or
having q port therein: 6
the following very important respects:
property owned by railroaa companies, their
?. Taxes may be imposed Upon the prop
| erty Of the companies above enumerated or
upon the earnings thereof within this state,
may Enissq or the
shall I be competent tent fof tie l leg Isstuis to
Impose such tax upon any and all property
| thereof within THIS state; and
of such taxation, t6e proportionate' busi-
G 81 nFsnH ef SSv o. Se4eaet Of
ing OF any such .e6mpa pies, per!ons or own
| ers. transacted or existing n, this state, IN
relation to the entire OUaneSS,t mileage OE
| Quantity Of production or property; or
| q. In such other manner, or by such other
| method, as the legislature may determine.
property will b. distributed between, the
state and the ivaEioua political subdivisions
thereof whersin the came is situated in the
upon real property are distributed. :,
| a. Tie ainsidneht contains provision to
the effect that it. shall not ope9Ate 70 au:
| OF ordinary business blocks or property
| owned By any such corporation. person.
dfm or company, except ia the manner pro-
vided' BY the Ordinary methods Of taxation.
July !. 1895. Attorney General
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