The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1896-10-29

Investment OF the netAhNsht rChVol Au.iu
state; nor shall such loan or Investment pc
made when the issue, Of which the same ~
part would make, tAe entire bonded m
sessed valuation of the taxable real prop
erty of the county. school district, city,
town or village issuing such PONDS; nor
q lower rate Of interest than 3 per cent per
annum nor for a shorter period than i've
o. years nor for longer period than
t t%snsy scSeo S Ssrct aV vase city
lines shall relieve the real property IN such
town, school district. county. village or
city in this STATE at the time ii the
ton to pay such bonds.
The proposed amendment contemplate
the investment Of the permanent school ., aaa
not less than five (0 nor more than twenty
COZ years, in the bonds Of counties. school
districts, cities. towns and villages.
palities under such amendment In amounts
sessed valuition OF the taxable real property
No loan shall bear interest at rate less
Section Of the same article Of the con.
stitution now provides for the loanlng or
counties and school districts. to be used III
the erection OF county or school buildings
and to draw interest Mt the rate OF per
Such loans arr 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-
spectively.
Amp:e pro*is'on is made for the collection
OF the principal and Interest of loans made
pursuant to said section 5. ---
TX.
San act proposing ~ 60: "1Gnent to the
constitution Of the State CT Minnesota. to
authorize the taxation Of the property Of
sleeping. drawing room and parlor car. and
other companies and owners in the manner
1t is proposed to amend, Article 0 Of tn"
constitution Of Minnesota by adding thereto
a section reading as follows: .,
for the imposition OF, upon the property
within this state, Of any and all owners or
operators, whether corporate or ind1vidual .
and drawing room cars, Or any q either Of
the same, which run In, into or through this
state; also upon the property within tbs
state Of any and all TELEGRAPH, ana a TELEPHONE ~
or extend In, into or through this state:
also upon the property within this state Of
all So o or GT
state Of all domestic insurance companies
Of this state Of any kind; also upon the
foreign insurance companies doing business
in this state of any kind; also upon the
property within this state OF all owners or
operators of any and all mines or of mineral
property within this state Of all boom com.
panies or owners, and OF all shipbui!ders or
d9nS IN TINS
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 sHs Of bct and % ~ sodns for sRcS
or in providing for ,ascertansng. the just
and true value Ct sTea property, 1t shall be- be-
any or all property thereof within this
state. and in either case by taking as the
basis Of such imposition the proportioaate
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
such companies, persons or owners as
aforesaid; or in such other manner, or by
such other method as the legislature may
upon mining property shall be distributed
between tho state and the various political
subdivisions thereof wherein the same IL
eeeas Of Fs1 prepery
tributed; provided further, that nothing in
this act contained shall operate to authorize
a bocfs or Oe owned
any such corporation, person, firm or com.
pany except IN the manner provided by the
ordinary methods Of taxation"
the taxation Of the property In this state Of:
.o Il, S!s,sPins' par'oR and dining room car
2. Telegraph and telephone companies.
4. Foreign and domestic insurance com.
s: The owners or operators Of mines or
s. Boom companies ana shipbuilders or
owners doing business in this state or
having . port therein; T.,
the following very important respects:
1. The amendment will not apply "to
property owned BY railroad companies. their
2. Taxes may be imposed upon the prop
erty Of the companies above enumerated or
upon the earnings thereof within this state.
8. In providing for such taxation. or the
shall be competent for the legislature to
impose such tax upon any and al property
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 Pro
Ing Of any such companies, persons or own
ers, transacted or existing In this state in
relation to the entire business. mileage or
g. 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 the proceeds Of taxes
z. 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 or company, except in the manner pro-
vided by the ordinary methods Of taxation
H, ". Childs,
July l. 1876. Attorney Er...ral.
County Commissioners Meet.
Continued From First Page.