The herald-advance. (Milbank, S.D.) 1890-1922, 1910-11-04

constitution of the state Of South Da-
kota be amended to read as follows:
Section 4. The debt OF any county.
ship or other subdivision. shall eve
exceed nve 60 per centum upo the
assessed valuation OF the taxable pro-
perry therein for the yeaT preceding
Cured.
In estimating the amount Of the In
debtedness which a municipality or
Indebtedness contracted prior to the
adoption of the constitution shall be
included;
Provided. that any county, munich
pal corporation, civil township. dist
riot, or other subdivision may incur an
additional Indebtedness not exceeding
valuation Of the taxable pr6ptrty
which said indebtedness Is incurred.
and sewerage for irrigation, domestic
uses. sewerage and other purposes;
Provided further. that Independent
school corporations may for the pur-
pose Of ERECTING, school buildings, in
valuation of the taxable property
therein for the year preceding that in
which said Indebtedness is incurred;
and
Provided further. that in a city
where the population is 5000 or more.
such city may incur an Indebtedness
the assessed valuation OF the taxable
property therein for the year next
preceding that in which said indebted.
constructing street railways, electric
lights or other lighting. plants.
Provided further, that no county.
district or subdivision shall be in
cluded within such district or subdi-
vision without a majority vote in favor
thereof Of the electors Of the county
municipal tinn. civil township,
district or subdivision as the case may
be, which is proposed to be included
incurred for any. of the in
this section provided. unless author
lied by a vote in favor thereof by a
majority of the electors of such coun-
ty, municipal corporation, civil town
ship, district or subdivision mourning
the same.
Shall the above amendment become a
law Of the state?
shall be printed the words Yes" and
No each preceded by a square in
which the elector can place a cross to
indicate his vote. Electors desiring to
vote Yes" will place a cross before
the word Yes" and those desiring to
vote No VII place a cross before
CHAPTER 1877
III. ]. r. III
A JOINT RESOLUTION Proposing
AND Agrssing to an mendmen ,6ods
state OF South Dakota, and Submitting
the Same to a Vote of the People.
Be 1t Resolved by the House OF
Senate ~Concurrfng:
s !. That at the next general cleo
ton In this state the following amend
of the State of South Dakota. which
is hereby agreed to, shall be submitted
TO the electors of this state for their
That Article XI Of the Constitution
amended so as to read as follows:
Section l. The legislature shall
defray the estimated ordinary ex-
penses of the state for each year. no,
to exceed in any one year two mills
on each dollar of the assessed valua-
ton of all taxable property in the
state, to be ascertained by the last as
sessment made for state and county
purposes.
And whenever it shall appear tina,
such ordinary expenses shall exceed
the income Of the state for such year
the legislature shal! provide for the
sufficient with other sources of in
come to pay the deficiency togethe,
w ysan i, the ws sI.im saeh ieyS is made DE- A .nt
for the purpose Of paying the public
debt: the legislature shall provide fo'
levying a tax. annually. sufficient tt
cipal of such debt within ten year.
from the final passage Of the Law
a ANNUAL tax tax of for the 1e'q PAYMENT ,aat 'e %
the interest and principal OF ths
public debt shall not exceed IL
a9S the Une as ssan sIo ya nailf On of eae All oG taa'
able property in the state, as ascer.
tanned by the last assessment mad
for state and county purposes;
form on all property and shall bs
levied and collected for public pur,
poses only. The value Of each subjec'
that every person and corporation
shall pay a tax in proportion to The
value OF his or its property: Fran.
the state, gross earnings and net in
comes. shall be considered in taxins
corporations and the power to tax cor
porate property shall not be surren'
dered by any contract or grant to
which the state shah be q party. The
legislature shall provide by genera
law for the assessing and levying O.
taxes on all corporate property. a.
near as may be. by the same method:
as are provided for assessing ant
Section 3. The legislature shall pro,
vide for taxing an moneys. credits
stock companies, or otherwise: ane
blso for taxing the notes and bills dis
counted or purchased, moneys loaned
and all other property, effects or due:
pr every description, of all banks ant
of bankers so that all property EN-
Ployed in banking shall always be sub
Ject to taxation equal to that imposed
on the property of individuals.
Section 4. The legislature may elias,
sify inheritance, devises, legacies ant
requests and gifts in view of death IL
respect to the recipients thereof. ant
may provide for a graduated or pro
gressive tax therein. with such ex
emptions to the surviving husband o.
wife, children and other relatives a.
1t may prescribe.
Section 5. The legislature shall elias
sify incomes In respect to the recip
tents thereof. and provide for a grad
uated or progressive tax thereon will
such exemptions as it may prescribe.
Section 6. The property of tn,
United states. and OF the state, o
ty and municipal corporations. boil
real and personal, shall be exemp
from taxation.
Section Z. The Legislature shall. b,
general law. exempt. from taxation
property used exclusively for agricul
tural and horticultural societies, TO
school, religious, cemetery and char
itable purposes, including church par