The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1902-10-23

ESloH OF the Legislature in 1901 and the
Extra Session in 1902, as well as a synop-
SIS of Chapter $50 Of the General Laws Of
1901, being an Act involving the taxation
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, -
Attorney General.
SYNOPSES OF AMENDMENTS TO
THE CONSTITUTIONS 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 WE'LL AS A SYONPSIS OF CHAP
TER $50 OF THE GENERAL LAWS
OF 1901, PROPOSING AN INCREASE
OF THE LROss EARNINGS TAX
UPON RAILROAD PROPERTIES. IL
pursuant to the provisions of Section
s2a' Of Article " of the State Constitu-
ton, 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 1. That every railway company
oWnlng or operating any line Of railway
state shall, during the year 1903, and an
nuaily 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, ap-
pendages and franchises thereof sum
OF money equal to four (4 per cent of the
gross earnings derived from the operation
of such line of railway within this state;
ana the payment of such taxes shall be in
run and IN lieu OF al other taxes upon the
property and franchises so taxed. The
TnG 1,xr hi n -
and remain exempta from taxation until
sold or contracted to be sold or conveyed
as provided in the respective acts whereby
su sac gPanfS ~ were Hsn made or recognized
derived from the operation of such line
Of railway within this state,'' as used in
section one Q: 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
mileage operated within the state bears
to the entire mileage operated by such
company.
Sec. 8: All acts and parts of acts not
forcement, or reports involving the
amount of taxes upon the gross earnings
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
ment thereof, in addition to existing rem
edies, collection may be enforced in a.
civil action brought in the name Of the
State of Minnesota in the district court
Sec. 5. This act shall be submitted to-
the people of this state for their approval
or rejection at att the next general election
(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 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 a
majority of such electors vOtinx Mt
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, it is proposed to amend Article
Eight 49,, Section Six co. 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
county, school district, city, town or
ment shall be made until approved by
the board of commissioners designated by
law to regulate the investment of the
saho9 fud fan d. fRa the
shall such loan or investment be made
when the issue of which the same in
part would make the entire bonded in
assessed valuation of the taxable real
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 a. short
er period than five 90 years nor for a
longer a period than twenty G0) years, and
village, city or county lines shall relieve
the real property in such town, school
Te OF ssun or city in th
such bonds
1t is proposed by said act to amend the
same so as to read as follows:
Section 6. 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-
such loan or investment be made i When 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
made at a lower rate Of interest than
three 90 per cent per annum, nor for q
shorter period than five (5) years. nor
for longer period than twenty COS
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 issl1-
ing Of such bonds from any liability for
taxation to pay such bonds. I
The effect of the above amendment
If adopted, will be to authorize the
investment of the permanent school
and university fund of this state for