The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-01-11
The Present Laws.

Section ALI taxes to be raised in this
state shall be as nearly equal as may be, and
all property on which taxes are to be levied
shall have cash valuation and be equalized
and uniform throughout the state; provided,
that the legislature may, by general law OF
special act, authorize municipal corporations
to levy assessments for local improvements
upon the property fronting upon such i'm
provements, OF upon property to be benefited
by such improvements, or both, without re-
gard to cash valuation, and in such manner as
the legislature may prescribe. And provided
further, that for the purpose OF defraying
the expenses Of laying water pipes and sup
plying any city or municipality with water
the legislature may, by general or special law,
authorize any such city or municipality, hay
ing population of five thousand $4,000 CT
more. to levy an annual tax or assessment
upon the ineal foot of all lands fronting on
any water main or water pipe laid by such
city or municipality within corporate limits
OF said city for supplying water to the cti-
zens thereof without regard to the cash
value of such property and to empower such
city to collect any such tax, assessments or
fines, or penalties for failure to pay the
same, or any fine or penalty for violation
of the rules Of such city or municipality
in regard to the use of water, for any
water rate due for the same. And, provided
further, that there may be by law levied and
collected a tax upon all inheritances, devices,:
bequests, legaces,5 and gifts of every kind
and description above a fixed and specified
sum, Of any and all natural persons and corr
porations. Such tax above such exempted
sum may be uniform, or it may be graded or
progressive, but shall not exceed maximum
tax of 5 per cent. ri - - '.. I
Sec, 2-The legislature shall provide for an
annual tax sufficient to defray the estimated
ordinary; expenses Of the state for each year;
and whenever 1T shall happen that such ordi-
n TO nv ch "a
exceed the incomesof the state for such year,
the legislature shall provide for levyng tax
for the ensuing year, sufficient with other
sources of income to pay the deficiency Ofthe
preceding year, together with the estimated
expenses of such ensuing year, (But no law
levyfnge tax, or making other provisions
for the payment of interest: or principal OF
the bonds denominated Minnesota State Rail-
roatd Bonds, shall take effect or, be in
force. until such law shall have been sub
mtted to vote of the people of the state
and adopted by majority Of the electors Of
the state voting upon the same.) :
Sec. Claws shall be passed taxing all
moneys, credits, or investments in bonds,
stocks, joint stock companies, or otherwise,
and also all real and personal property &C.
cordng to its true value In money; but pub
lie burying grounds, public schoolhouses, pub
lie hospitals, academies, colleges, universi-
ties, and all seminaries of learning, all
churches, church property used for religious
purpoes,s and houses of worship, institutions
of purely public charity, public property and
exclusively for any public purpose, and per-
sonal property to an amount not exceeding in
value two hundred dollars for each indi-
vidual SHALL by general laws, be exempt
from taxation. %': @'
Sec. 4-Laws shall be passed for taxing the
notes and bills discounted or purchased,
moneys loaned, and other property, effects or
dues of every description, of all banks ana
all bankers, that all property employed
in banking shall always be subject to tax
alton equal to that imposed on the property
of individuals. 80 - . q go