The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1902-10-09

OF railroad property. to be submitted to
the electors of the State for adoption Or
rejection at the next. General Election.
Yours respectfully, .
! w. B. DOUGLAS,
j., a. 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
AND THE EXTRA SESSION IN HOOP,
AS WE'LL AS A SYONPSIS OF CHAP
TER 100 OF THE GENERAL LAWS
OF 1901, PROPOSING AN INCREASE
OF THE -ROss EARNINGS TAX
UPON RAILROAD PROPERTIES.
Pursuant to the provisions of Section
SEA, of Article Nv Of the State Constitu-
ton, the Legislature by Act approved
April =, 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: r.
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
within this state owned or operated for
railway purposes by such company, in
Guiding equipment, appurtenances, ap-
pendages and franchises thereof, a sum
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 o. all other taxes upon the
property and franchises so taxed. The
lands acquired by public grant shah be
and remain exempt from taxation until
sold or contracted to be sold or conveyed
as provided in the respective acts whereby
made
Sec. 2. The term 1.-The gross earnings
derived from the operation of such line
OF railway within this state" as used in
section one N 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.
inconsistent herewith regulating the pay
ment, collection, time of payment, en-
torcement, or reports involving the
amount cunt Of taxes upon the gross earnings
of railroad companies within this state, or
providing penalties for the nonzpayment
OF such taxes, are hereby made .applica-
bic 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
ment thereof, in addition to, existing rem
civil acton bf5aehf in the name me- of = the q
State of Minnesota; in the district court
Sec. 5s.This act shall ohe submitted to
the people of this state for their approval
or tPe ad the election
CThe omitted provision refers to the
method of printing the ballot and submit
ting the act for ratifcation.) 80 -.
This act provides for an increase
of the amount of taxes collected by
the State: upon. the property of the
railro ads sttHated within the State,
from three per cent upon the gross
earnings derived from the operation
of such lines of railway within the
State, tO,.a sum of money: equal to
four per cent upon the gross earn-
1nEs 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 u
majority of such electors voting DIT
the next general election.
BY an Act of the Legislature Of the
State of Minnesota. approved February
70, 1901, and known as House File No.
lOO 1t is proposed to amend Article
Eight 80, Section Six 64rof the Consti-
tuition. y
This Section as now existing reads as
follows: = - .-
university fund of this State\ may be in
vested in the purchase of bonds of any
county, school district, city, town or
until h1r
the board of commissioners designated by
law to regulate the Investment of the
perm school fgnd and The
shall such loan or investment be made
when the issue of which the same in
part would make the entire bonded in
property of the county, school district.
CITY, town or village issuing such bonds;
made at lower rate Of interest than
three per cent per annum nor for short
er period than five 90 years nor for a
longer period than twenty 600 years, and
village, city or county lines shall relieve relieve
the real property in such town, school
district county, village. or city IL, this
from any, liability for taxation to pay
It is proposed by said act to amend the
Section s. 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-
sity 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 a lower rate Of interest than
three 80 per cent per annum, nor for a
shorter period than five ~ years. nor
for a longer period than twenty COY
years, and no change Of the town, school
district city, village, or of county lines,
shall relieve the real property in such
town, school district county, village or
city in this state at the time of the issu-
ing of such bonds from any liability for
taxation to pay such bonds. =, 3i#5, =
The effect of the above amendment,
If adopted, will be to authorize the
Investment of the apermanent school
and university fund Of this state for
period of not less than five (5) or
more than twenty (2O) years, at an
interest rate not less than three (3)
ner cent ner annun1. in the honda ~