The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1902-10-16


of railroad property. to be submitted to
the electors of the State for adoption or
rejection at the next General Election.
= r.. Yours respectfully, 49,
- w. B. DOUGLAS,
= /%"> T. Attorney General
SYNOPSIS OF AMENDMENTS TO
THE CONSTITUTION OF THE STATE
= OF MINNESOTA PROPOSED BY THE
=. LEGISLATURE OF THE SAID STATE
AT THE GENERAL SESSION IN 1901
land THE EXTRA SESSION IN 1902,
:. AS WE'LL AS A SYONPsIs OF CHAP
= TER $50 OF THE GENERAL LAWS
OF 1901, PROPOSING AN INCREASE
. OF THE -EROSs EARNINGS TAX
UPON RAILROAD PROPERTIES.
Pursuant to the provisions, of Section
ga, of Article Nv of the State Constitu-
tlon, the Legislature by Act approved
April 6, 1901, known as Chapter $50 of the
General Laws of 1901, present to the cleo
tors of the State for rejection or approval,
the following, to wit:
Section l. That every railway company
owning or operating any line of railway
situated within, or partly within, this
state shall, during the year 1903, and an
of this state, as taxes upon all property
within this state owned or operated for
railway purposes by such company, in
Guiding equipment, appurtenances, ap-
OF money equal to four az per cent of the
gross earnings derived from the operation
OF such line of railway within this state;
a a1l1 the payment Of such taxes shall be in
full and in lieu o. all other taxes upon the
property and franchises so taxed. The
lands acquired by public grant shah be
ana remain exempt from taxation until
sold or contracted to be sold or convey ed
oafc xuonr INV
such grants were made or recognized.
Sec. 2. The term 1.-The gross earnings
derived from the operation of such line
section one % of this act, is hereby de-
clared and shall be construed to mean all
earnings. on business beginning and end
ing within the state, and a proportion of
earnings on all interstate business passing
through, into or out of the state as the
mileage operated within the state bears
to the entire mileage operated by such
company.
Sec. 3; All acts and parts of acts not
inconsistent herewith regulating the pay
ment, collection, time of payment, en-
f tor GENE or reports involving the
OF railroad companies within this state, or
providing penalties for the non-payment
OF such taxes, are hereby made applica-
Die to this act SO far as may be; and all
acts and parts of acts inconsistent with
the provisions of this act are hereby re-
pealed. <.1-.:
Sec. 4. Upon failure to pay the amount
of such taxes legally due upon the dates
heretofore provided by law for the pay
ment thereof, in addition to existing rem
ed1es, collection may be enforced in a
civil civil action brought in the name of the
of any county,, ,. ~
Sec. 5. This act shall be submitted to
the people of this state for their approval
or IH3ecton ct the next general election
CThe omitted provision refers to the
method of printing the ballot and submit
ting the act for ratification)
TITS act provides for an increase
of the amount of taxes collected by
the State upon the property of the
railroads situated within the State,
from three per cent upon the gross
earnings derived from the operation
of such lines of railway within the
state, to 8 sum of money equal to
four per cent upon the gross earn-
1ngs derived from the operation of
such lines OF railway therein
Under the terms of the Constitu-
ton above referred to, this Act of
the Legislature must be submitted
to legal voters of the State, and will
become operative if adopted; by a
majority of such electors voting at
IL
By an Act of the legislature of the
State of Minnesota, approved February
70, 1901, and known as House File No.
100, it is proposed to amend Article
Eight 81, Section Six CO. of the Consti-
tuition.
This Section as now existing reads as
follows:
Section G. The permanent school and
vested in the purchase of bonds of any
county, school district, city, town or
village of this state, but no such invest
ment shall be made until approved by
law to regulate the investment of the
permanent school fund and the perma-
nent university fund of this State; nor
when the issue Of which the same in
part would make the entire bonded in
debtedness exceed seven per cent of the
assessed VALUATION of the taxable real
city, town or village issuing such bonds
nor shall such loans or indebtedness be
mace mace at lower rate Of interest than
er period than five % years nor for a
longer period than twenty COZ years, and
no change of the town, school district,
village, city or county lines shall relieve
district, county, village or city in this
state at the time of issuing of such bonds
from any liability for taxation to pay
It is proposed by said act to amend the
same so as to read as follows:
Section E: The permanent school and
university fund of this State may be in
vested in the bonds Of any county, school
district, city, town or village of this
state, but no such investment shall be
made until approved by the board of
commissioners designated by law to reg
ulate the investment of the permanent
school fund and the permanent ~univer-
s1ty fund Of this state; nor shall
such loan or investment be made when
the bonds to be issued or purchased
would make the entire bonded indebted
ness exceed fifteen 90 per cent of the
assessed valuation Of the taxable real
property Of the county, school district,
city, town or village issuing such bonds:
nor shall such loans or Indebtedness be
made at lower rate of interest than
three 90 per cent per annum, nor for a
shorter period than five % years. nor
for longer period than twenty Coz
years, and no change Of the town, school
district, city, village, or of county lines,
town, school district county, village or
city In this state at the time OF the issu-
ing Of such bonds from any liability fo1
taxation to pay such bonds. 49,
The effect of the above amendment,
If adopted, will be to authorize tho
investment of the permanent school
and unfversity fund Of this state for
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