The Redwood gazette., 1902-10-29

LEG1SLAT IRE OF THE SAID STATE
AT THE GENERAL SESSION IN 1851
AND THE EXTRA SESSION IN 1892,
AS WE'LL AS a SYCNPSIS OF CHAP
TER $50 OF THE GENERAL LAWS
OF 1901, PROPOSING Az INCREASE L
OF THE GROSS EARNINGS TAN
UPON RAILROAD PROPERTIES.
Pursuant 10 the provisions OF Section
ga, OF Article " OF che State CUnstll Ii
ton, the legislature by Acl uIJT1 I'd
| April i, IDOL IlI-Wn as Chapter 10 Of the
General Laws OF lyO1, present to the elec-
! tors OF the State for rejection or apyro al.
! the following, to wit:
! Section l. That every railway Company
! owning or operating any line Of rallW ay
| situated Wltnin, OF partly within, this
! state snail, during the year 1913, aud an
| OF tnlS slate. IS ta--cs upon all property
| within this state owned OF operated IJr
railway PURPOSES BY such company, IN
| cluolng eQulylnent appurtenances, ap-
| pendages and franchises thereof, a sum
| OF money equal 10 four a. per cent Of the
gross earnings derived from the operation
OF such line OF railway within this state;
ana the payment Of s.ch 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
ana remain exempt from taxation until
sold or contracted to be sold or conveyed
as provided in the respective acts whereby
such grants We're 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 Cp Of this act, is hereby de-
earnings on business beginning and end
ing within the state, and proportion of
earnings on all interstate business passing
through, into out of the state as the
! mileage operated within the state bears
to the entire mileage operated by such
company.
Sec. 8. 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
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 prov1sions 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
etvi 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
(The omitted provision refers to the
method Of printing the ballot and submit
ting the act for ratit1cation.)
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 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 COnstitu-
ton above referred to. this Act OF
the Legislature must be submitted
to legal voters of the Stnte. and will
become operative if adopted by n
majority of such electors voting at
the next general election.
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 (S), Section Six 90 Of the Consti-
tuition.
This Section as now existing reads -
follows:
university fund Of this State ray 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
| 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 per cent per annum nor for short
er period than five 90 years nor for a
! longer period than twenty (HO) 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.
1t Is proposed by said act to amend the
same so as to read as follows:
Section 8. The permanent school and
university fund OF this State may be in
vested in the bonds OF any county. school
| 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 unirer-
sity fund of this state: nor shall
such loan or investment be made when
! would make the entire bonded indebted
| ness exceed fifteen C10 per cert 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 indebt edness be
| made at a lower rate of interest than
three (Sl per cent per annum nor for a
| shorter period than five % years. nor
| for longer period than twenty Cd,
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 paw such bonds
The effect OF the above amendment.
| II adopted. will be to authorize the
| investment of the permanent school
| and university fund of this state for
| period of not less than Ave 80 or
more than twenty te0) years. at an
| interest rate not less than three t3)
per cent per annum. In the bonds of
| any county. school district. city.
towa. or village of this state. when
| the bonds to be issued or Purchased d
| Will not make the entire bonded
| indebtedness OF suck municipalities
| exceed fifteen (1s) ger cent of the
| assessed valuation OF the taxable