The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1902-10-31

| OF railroad property 10 De SupIiltttSu "
the electors of the State for adoption or
rejection at the next General Election.
Yours respectfully.
w. B. DOUGLAS,
Attorney General.
sYNOPSES OF AMENDMENTS TO
THE CONSTITUTION OF THE STATE
OF MINNESOTA PROPOSED BY THE
| LEGISLATURE OF THE SAID STATE
AT THE GENERAL SESSION IN 1901
| AND THE EXTRA SESSION IN 1902,
TER $50 OF THE GENERAL LAWS
OF 1901. PROPOSING AN INCREASE
OF THE GROSS EARNINGS TAN
UPON RAILROAD PROPERTIES.
| I.
| Pursuant to the provisions of Section
| S2a, of Article Nv of the State Constitu-
ton, the Legislature by Act approved
April 6, 1901, known as Chapter 100 of the
General Laws of 1901, present to the cleo
tors of the State for rejection or approval.
| the following, to wit:
| Section 1. That every railway company
| owning or operating any line OF railway
| situated within, or partly within, this
state shall, during the year 1908, and an
nually thereafter, pay into the treasury
! or this state. as taxes upon all properly
within this state owned or operated Tor
railway purposes by such company, IN
GLIDING equipment. appurtenanceS, APP
pendages and franchises thereof, q sum
OF money equal to four 90 per cent of the
gross earnings derived from the operation
of such line of railway within this state;
and the payment of such taxes shall be in
full and in lieu of all other taxes upon the
property and franchises so taxed. The
lands acquired by public grant shall be
and remain exempt from taxation until
sold or contracted to be sold or conveyed
as provided in the respective acts whereby
such grants were made or recognized.
Sec. 2. The term the gross earnings
derived from the operation of such line
of railway within this state" as used in
section one Q) of this act. Is hereby de-
clared and shall be construed to mean all
earnings on business beginning and end
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 g. All acts and parts of acts not
inconsistent herewith regulating the pay
ment, collection, time of payment, en-
forcement, or reports involving the
amount of taxes upon the gross earnings
of railroad companies within this state, or
providing penalties for the non-payment
of such taxes, are hereby made applica-
BILE 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.
Sec. 4. Upon failure to pay the amount
of such taxes legally due upon the dates
heretofore provided by law for the pay
edies, collection may be enforced in a
civil action brought in the name of the
State of Minnesota in the district court
of any county.
Sec 5. This act shall be submitted to
the people of this state for their approval
or rejection at the next general election
for the year 1902.
CThe omitted provision refers to the
method of printing the ballot and submit
ting the act for ratification.)
THIS net 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 u sum of money equal to
four per cent upon the gross earn
inEs derived from the operation OF
such lines of railway therein.
Under the terms of the COnstftu-
| 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
the next general election.
II.
| BY an Act of the Legislature of the
State of Minnesota, approved February
| % 1901, and known as House File No.
| 100. 1t Is proposed to amend Article
Eight %, Section Six (6 of the Consti-
/ tuition.
This Section as now existing reads as
| follows:
Section g. The permanent school and
university fund of this State may be in
vested in the purchase of bonds of any
county, school district, city, town OF
village of this state, but no such invest
ment shall be made until approved by
! the board of commissioners designated by
law to regulate the investment of the
perman, MT school fund and the perma-
| nent university fund of this State; nor
| shall Icn loan or investment be made
when the issue of which the same in
| part would make the entire bonded in
| debte6 ess exceed seven per cent of the
assessed valuation of the taxable rea
property " the county, school district
! city, town or village issuing such bonds
nor shall such loans or Indebtedness be
made at a lower rate of interest thar
/ three per cent per annum nor for short
/ er period than five 90 years nor for q
| no change of the town, school district
village, city or county lines shall relieve
! the real property in such town, school,
district, county, village or city in this
! state at the time of issuing of such bonds
from any liability for taxation to pay
such bonds.
| same so as read as follows:
Section Z. The permanent school and
| university fund of this State may be in
vested in .ne bonds of any county. schoo
! state, but 40 such investment shall be
made until approved by the board o.
! commissioners designated by law to reg.
ulate the investment Of the permanent
school fund and the permanent univer
sity fund of this state; nor shall
such loan or investment be made wher
/ the bonds to be issued or purchased
| would make the entire bonded indebted
| ness exceed fifteen (15) per cent of the
| assessed valuation Of the taxable rea
! property of the county. school district
| city, town or village issuing such bonds
| nor shall such loans or Indebtedness bt
| made at a lower rate of interest thar
| shorter period than five (5) years, mol
| for a longer period than twenty GO
| years, and no change of the town, schoo
district. city, village, or of county lines
| shall relieve the real property in suck
town, school district. county, village OF
ing of such bonds from any liability fol
taxation to pay such bonds.
The effect of the above anne ndln e Mt
IL adopted, Will he to authorize the
investment of the permanent school
and university fund of this state fol-
q period of not less than five 90 OIL
! more than twenty (2O) years, at an
interest rate not less than three (3
per cent Per annum. In the bonds ot
| any county, school district, city
town, or village of this state. whe 4
the bonds to be issued or purchase d
! VIII not make the entire bonded
indebtedness of such municipalities
exceed fifteen (15) per cent of the
assessed valuation of the taxable
i real property contained therein.
The substantial change proposed
by said amendment Ii to authorize