Mower County transcript., 1896-10-21


Investment Of the permanent school fund
state; nor shall such loan Of investment be
made when the issue Of which the same In
part would make the entire bonded In.
ef hs tassSe ssb
erty OF the county, school district, city,
town or village issuing such bonds; nor
shall such loans or Indebtedness IS be made at
annum nor for a shorter period than Ave
(5 years nor for a longer period than
@ Ss AND Tase NO change eR ct ta
lines shall relieve the real property In such
city In this state at the time Of the issuing
tion to pay such bonds.'
The proposed amendment contemplates
the, Investment of the permanent school and
not less than Ave % nor more than twenty
(2O years, in the bonds Of counties school
districts cities; towns % sa1 and villages
palties under 's such % amenamenf @ fuH in amounts mounts
sssssd yaiuatioa of the taxable real al propeIty s
No loan shall bear interest at rate less
Section 5 Of the same article of the con-
the School funds Of or the state to to
counties and school districts, to be used In
the erection OF county or school buildings,
and to draw interest at the rate of 5 per
cent per annum.
Such loans are now limited to amounts not
exceeding three 3) per cent of the last pre-
cedlng 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 said section 5.
TX.
"An 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
therein provided" i
Is to amend ArtGe Of the
THE legislature may impose, or provide
for the imposition Of upon the property
within this state. of any and all owners or
or otherwise, Of any and all sleeping, parlor
and drawing room cars, or any or either Of
the same, which run in. into or through this
state of any and all telegraph and telephone
companies, or owners, whose lines are In,
or extend in, into or through this state:
also upon the property within this state Of
or either Of the same, doing business in this
state; also upon the property within this
OF all domestic 4S
property within this state Of any and all
foreign Insurance companies doing business
IN 4es sts Wth of kd % the
ores situated In this state: also upon the
within this Tte % f all
having q port therein; provided, that this
act shall not apply to property owned by
property; and upon the property Of either
or any. of such companies Of owners a tax.
as uniform as reasonably may be with the
state, or upon the earnings thereof within
this state. but may be graded or progress
sive, or both; and in providing for such tax,
and true value of such property, it shall be
competent for the Legislature, in either or
all of such 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
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
but the Se Of dqh
between the state and the various political
subdivisions thereof wherein the same is
situated snaI d In the same proportion as the pro-
ceeds or taxes upon real property are dis
tri3uted; provided further, that nothing in
this act contained shall operate to authorize
nary business blocks or property owned by
any such corporation, person, firm or COM
py pany except in the manner provided by the
ordinary methods of taxation"
Ih1s proposed amendment cOntemplates
the taxation OF the property =, this state of: :
oon,n IL Sleeping ,epp parlor and o4ing room car
2. Telegraph and telephone companies
j. Express companies.
A. Foreign and domestic insurance com.
5. The owners or operators of mines or
6. Boom companies and shipbuilders- or
GHv; doing business in this state
The foregoing provisions are modified in
the following very important respects:
1: The amendment. will not apply "to
property owned by railroad companies, their
lands and other property"
?. Taxes may be imposed upon the prop
erty OF the companies above enumerated or
and may be graded or progressive, or both
g.. In providing for such taxation, or the
lust and true value of such, property, it
impose such tax upon any and all property
thereof within this state; and
4. IN either case by taking as the basis
ness earnings, mileage or quantity of pro-
duction or property now or hereafter exist
! ers, transacted or existing in this state, in
relation to the entire business. mileage or
quantity OF production or property; or
3. In such other manner, or by such other
method. as the legislature may determine.
T. The proceeds of taxes upon mining
| property will be distributed between the
| thereof wherein the same Is situated In the
same proportion as the proceeds of taxes
T. The amendment contains provision to
| the effect that it 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. w. Childs,
July l. 1896. Attorney General.