Little Falls weekly transcript. (Little Falls, Morrison Co., Minn.) 1894-19??, 1896-10-16

and the permanent university fund OF TINS
state; nor shall such loan or Investment pe
made when the issue, Of which the same ID
part would make the entire o of fhe a. as
sessed valuation Of the taxable real prop
erty of the county, school district. CITY,
town or village Issuing such bonds; nor
a lower rate Of interest than 3 per cent per
annum nor for a shorter period than hve
0 years nor for longer. period than
town, school district, village, city or county
lines shall relieve the real property IN such
town. school district, comfy. VILLAGE or
city in this state at the time Of the issuing
Of such bonds from any LIABILITY Tor taAa-
ton to pay such bonds"
The proposed amendment contemplates
the Investment Of the permanent schooi ana
university funds of the state, for periods
not less than five o. nor more than twenty,
pO years, in the bonds Of counties, school
districts, cities, towns and villages. ;, =,
" Loans cannot be made to sne e, mon1G,,
exceeding seven a. ner cent OF the as as
sessed valuation Of the taxable real property
thereof. ''h. n
than three 49, per cent.
Section 8 OF the same article of the con:
stitution now provides for the loaning OF
the OF t9 he nsed
the erection Of county or school buildings.
and to draw interest at the rate of per
cent per annum.
exceeding three 81 per cent of the last pre-
ceding assessed valuation Of the real es-
tate Of the counties or school districts re-
spectively.
Ample provision is made for the collection
of the principal and interest Of loans made
pursuant to sud section 5.
IN.
Gan act proposing an amendment to the
constitution Of the State Of Minnesota, to
authorize the taxation OF the property OF
sleeping, drawing room and parlor car, and
other compan'ies, and 2! owners In the manner
It is proposed to amend Article Of the
a section reading rs follows:
1.-THE legislature Inlay impose, or provide
for the imposition of. upon the property
within this state, Of any and all owners or
operators. whether corporate or Individual,
or otherwise. Of any ana all sleeping, parlos
and drawing room cars, or any Or either OF
state; also upon the property within thls
state of any and all telegraph and telephone
companies, or owners, whose lines are in
or an TN or wbs ta
all express companies. or owners, or any
or either of the same. doing business in this
state; also upon the property within this
of this state of any kind; also upon the
property within this state of any and all
foreign insurance companies doing business
property within this state Of all owners or
operators Of any and all 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 shipbuiiders or
having port therein; provided, that this
act shall not apply to property owned by
railroad companies their lands and other
nrDnprtV. mud tho OrOnprfV OF either
or any of such companies or owners a tax.
as uniform as reasonably may be with the
taxes imposed upon similar property in said
state, or upon the earnings thereof within
this state, but may be graded or progress
Give, or both, and in providing for such tax,
or in providing for asccrtaining the just
competent for the Legislature, in either or
all Of such cases, to impose such tax, upon
any or all property thereof within this
state ana In either case ny taking rs the
business, earnings, mileage or quantity of
production. or property now. or hereafter
existing of any such companies, persons or
owners, transacted or existing In this state,
in relation to the entire business, mileage
or quantity Of production or property of
such companies, persons or owners as
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
| situated In the same proportion us the pro.
ceeds Of taxes upon real property are dis
tributed; provided further, that nothingNiq
this act contained shall operate to authorize
the assessment or taxation Of land or or,li.
nary business blocks or property owned by
any such corporation, person, firm or com
pany except in the manner provided by the
ordinary methods Of taxation"
This proposed amendment contcmplates
the taxation Of the property in this state Of
l. Sleeping, parlor and dining room car
| companies.
2. Telegraph and telephone companies
| 8. Express companies.
| 4. Foreign and domestic insurance com
| panies.
s. The owners or operators of mines OF
6. Boom companies and shlpbulldcrs o,
! owners doing business in this state OF
| having a port therein.
The foregoing provisions are modified In
the following very important respects:
l. The amendment, will not apply "to
| property owned by railroad companies, theiI
| lands and other property
2. Taxes may be imposed Ipon the prop
erty Of the companies above enumerated OF
npon the earnings thereof within this state
5. In providing for such taxation. or the
| just and true value of such property, II
shall be competent for the Legislature tc
thereof within this state; and
| 4. In either case by taking as the basis
of such taxation, the proportionate bust
! ness, earnings, mileage or quantity OF Pro
duction or property now or hereafter exist
Ing Of any such companies. persons or own
ers. transacted or existing In this state. fr
relation to the entire business. mileage OF
| quantity Of production or property; or
:. In such other manner. or BY such Other
I method. as the legislature may determine
g. The proceeds Of taxes upon minip2
property. viii be distributed between thu
state and the various political Subdivisions
thereof wherein the same Is situated In the
same proportion as the proceeds OF taxes
upon real property are distributed.
Z. The amendment contains provision Il
the effect that 1t shall not operate to au
thorixe the assessment or taxation Of land
or ordinary business blocks or property
| owned by any such corporation, person
frm or company, except In the manner pro
vided by the ordinary methods Of taxation
| H. W. Childs.
July /. 1896. Attorney General
DiplltlIerNl Epidemic.