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

sA0 SASSeOAS u lue oldlS lOi oNoP1iOA "
rejection at the next General Election.
Yours respectfully,
w. B. DOUGLAS,
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 1902,
AS WELL AS A SYONPSIS OF CHAP
TER 100 OF THE GENERAL LAWS
OF 1901, PROPOSING AN INCREASE
OF THE GROSS EARNINGS TAX
UPON RAILROAD PROPERTIES.
Pursuant to the provisions of Section
ga, of Article " 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:
Section 1. That every railway company
owning or operating any line of railway
situated within, or partly within, this
state snall, during the year 1903, and an
heaIy thereafter, pay into the treasury
of this state, as taxes upon all property
within this state owned or operated for
railway purposes by such company, in
Guiding equipment, appurtenances, APP
pendages and franchises thereof, a sum
or money equal to four a. per cent of the
gross earnings derived from the operation
Oh 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
s9en grants ITS We're naas or recognized;
derived FROM the operation of such line
of railway within this state as used in
section one a. of this act, is hereby de-
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. 6. 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
ment thereof, in addition to existing rem
edies, collection may be enforced in
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.
(The omitted provision refers to the
method of printing the ballot and submit
ting the act for ratifcation.)
This 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 frOE, the operation
of such lines of railway within the
State, to sum of money equal to
four per cent upon the gross earn
fngs 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
the next general election.
II.
By an Act of the Legislature of the
State of Minnesota, approved February
20. 1901, and known as House File No.
100, it is proposed to amend Article
Eight (S, Section Six 6) of the Consti-
tuition.
This Section as now existing reads as
follows:
Section 6. 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 or
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
permanent school fund and the perma-
nent university fund of this State; nor
shall such loan or investment be made
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 indebt edness be
made at lower rate Of interest than
err period than five % years nor for a
longer period than twenty COO years, and
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.
It is proposed by said act to amend the
same so as to read as follows:
university fund Of this State n may be a I'M
vested in the bonds Of any county, school
district city town own or village Of this
state, DuC no SucH investment Snall De
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 (15) 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
three 90 per cent per annum, nor for q
shorter period than five co. years, nor
for q 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 fssu-
ing of such bonds from any liability for
taxation to pay such bonds.
The effect of the above amendment,
IL adopted, will be to authorize the
investment of the permanent school
and university fund Of this state for
. period Of not less than i've (5) or
more than twenty (2O) years, at an
interest rate not less than three (S)
per cent per annum, I'm the bonds Of
any county, school district, city,
tewn, or village of this state, wheR
the bonds to be Issued or purchased
will not make the entire bonded
Indebtedness of such municipalities
exceed fifteen 16) per cent of the
assessed valuations of the taxable
The substantial change proposed