The Cook County herald. [volume] (Grand Marais, Minn.) 1893-1909, 1896-11-07

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Investment Of 9thes papn1anentsseheei fund
Ia 1sa 81 BIS
part would make Tie entire entire 80 bonded shs in u
sessd Of the es ssbI rea ng
.ertL OF the county, school district, city,
town or village issuing such bonds; nor
shalt such loans or indebtedness be made at
snnum nor for . shorter period "a than han i've I've
~ yaars nor Tor longer period than
twenty (20 years, and no change Of the
town town school district viilage city or county
town, school district. county village OF
city In this state at the time Of the issuing
q such bonds from any liability for taxa
tion to pay such bonds, II ss$
the investment OF the permanent school and
university funds OF the state, for periods
not less than hye ~ nor more than twenty
go years, IN the bonds Of counties. school
districts, cities, towns and villages.
Loans cannot be made to such munich
palities under such amendment In amounts
exceeding seven a per cent Of the as
thereof.
. No loan shall bear interest at rate less
than saa three % Per cent. !.
nection OK the same article OF the con-
the permanent school funds Of the state to
counties and school districts. to be used In
the erection Of county or school buildings,
and to draw Interest at the rate Of per
Such loans are now limited to amounts not
exceeding three (S) per cent Of Che last pre-
ceding assessed valuation Of the real es-
tate q 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 3. "
IAN act proposing an amendment to the
authorize the taxation Of the property Of
sleeping, drawing room and parlor car, and
fhaeso nnppadsa and in the
It = proposed to amend Article 9 Of the
constitution Of Minnesota by adding thereto
section reading as follows: ~.
me legislature may impose, or provide
for the imposition OF. upon the property
operators. whether corporate or individual,
or otherwise, OF any and all sleeping, parlor
ana drawing room cars. OF any or either Of
the same which run H. Into OF through this
state Of any aud all telegraph and telephone
companies, or owners, whose lines are in,
OF e5.o extend aa n, into or through this state;
all express companies, or owners, or any
or either OF the same, doing business in this
state; elso upon the property within this
Of this state Of any kind; also upon the
property within this state Of any and eli
foreign insurance companies doing business
IN this state OF any lind; also upon1th
property within this state. Of all owners or
operators OF any and ell mines or Of mineral
ores situated in this state; also upon the
property within this state Of all boom com
panies or owners, and OF all shipbuilders or
having q port therein; provided, that hat this is
act shall not apply to property owned by
railroad companies, their lands and other
property; and upon the property Of either
as uniform as reasonably may be with the
taxes imposed upon similar property in said
state, or upon The earnings thereof within
s sh1s STATE nr put nay BE- Graded or
or In providing for ascerta1ning the just
and true value Of such property, it shall be
competent for the legislature, in either or
al OF such a. cases, to impose such tax upon
state, and In either case by taking as the
basis OF such imposition the proportionate
business. earnings. mileage or quantity of
proda9ction or property now, or hereafter
owners, transacted OR existing IN this state,
In relation to the entire business, mileage
OF roS quantity Of production or property OF
aforesaid; or in such other manner, OF by
such other method as the legislature may
determine; but the proceeds Of such taxes
upon mining property shall be distributed
between the state and the various political
subdivisions thereof wherein the same Is
situated In the same proportion as the pro-
ceeds OF taxes upon real property are dis
tributed; provided further, that nothing In
this act contained shall operate to authorize
the assessment or taxation Of land or ordi-
nary business blocks or property owned BY
any such corporation, person, firm or COM
PAM except II the manner provided by the
This proposed amendment contemplates
the taxation Of the property In this state Of:
.c !; Sleeping parlor and dining room car
2. Telegraph and telephone companies.
J :. Express companies.
4. Foreign and domestic insurance com.
s. The owners or operators Of mines or
: 6. Boom companies and shipbullders or
owners doing business In this state or
having a port therein.
the following very important respects:
/. The amendment will not apply "to
property owned by railroad companies their
2. Taxes may R Be Imposed upon the prop.
erty OF the companies above enumerated OF
upon the earnings thereof within this state,
and may be graded or progressive, or both.
8. In providing FOR such taxation, or the
Just and true value OF such property, ii
shall; shall be competent for the legislature t.
impose such tax upon any and all property
thereof within this state; and =
T. In either case by taking as the basis
OF such taxation. the proportionate bust.
ness ness; earnings, mileage OF quantity Of pro-
Ing OF any such companies, persons or own.
ers, transacted or existing In this state, In
relation to the entire business, mileage OF
quantity Of production or property; or
o., IN such, other manner, or by such other
method, as the legislature may determine.
6. The proceeds Of taxes upon mining
property will be distributed between the
state and the various political subdivisions
thereof wherein the same Is situated In the
same proportion as tho proceeds Of taxes
upon real property are distributed.
-. The amendment contains provision to
the effect that 1t shall not operate to au.
thorize the assessment or taxation of land
or ordinary business blocks or property
owned by any such corporation, person,
firm OF company. except in the manner pro.
vided by the ordinary methods OF taxation.
II. W. Childs,
July l, 1896 Attorney General.
VIZ n statesmen