The Barre daily times. (Barre, Vt.) 1897-1959, 1913-01-18
WOULD
BE ABOLISHED
Continued from first page.)

age amount of the assessed valuation
of real estate owned by such corpora
| ton, and after further deducting there
from the average amount of its assets
! loaned at rate of interest not exceed
| ing five per cent. per annum, the pay
ment of which is secured and evidenced
by mortgages, duly executed and record :
ed, upon real estate within this state.
Sec. IL. Section 745 of the public stat
utes, as amended by section of No. 35
Of the acts of 1910, is hereby amend
ed so as to read as follows:
Sec. 745. A domestic trust company
or savings banks and trust company do
ing business herein shall annually pay
Il tax to the state, which is hereby as.
sessed at the rate of seven-tenths of
one per cent. upon the average amount
of its deposits, including money or Sc
curities received as trustee under order
of court, or otherwise, after deducting
therefrom the average amount, not ex
ceeding ten per cent. of its assets in.
vested in United States government
bonds, and after further deducting there.
from the average amount of it's assets
loaned, at a rate of interest not ex-
ceeding five per cent. per annum, the
payment of which is secured by mort
cages, duly executed and recorded, upon
real estate within this state.
Sec. IL. All taxes imposed by this act
shall be paid into the treasures OF the
respective town school districts, neor
porated school districts, and school dis.
tricts of unorganized towns and cores
wherein the same were assessed, and
shall be used for school purposes and
shall be in lieu of the tax required I'M
der section 1861 OF the public statutes,
to the extent that it provides the
amount of funds therein required. Such |
taxes shall be collected as other taxes /
in such school districts are collected. |
In any unorganized town or gore in
which there is no school district such |
taxes shall be paid to the commission
er thereof.
See l3 In any case where the funds
raised under this act exceed the amount
required for the maintenance OF schools
within a district, such excess shall be
paid into the treasures of the respec-
i've cities, towns or Incorporated viii 4
ages, and to the commissioner of taxes
VI the respective unorganized towns and
,ores wherein such taxes were assessed,
ind shall become part of the general
und thereof.
Sec. Ia. No tax assessed under the
provisions of this act shall be subject
o discount,
Sec. Is. Personal property taxed un-
er the provisions of this act shall not
onstitute a part of the grand list for
purposes OF local or state taxes, ex-
ept as herein provided but shall be
included in the grand list for purposes
i division of the public moneys.
Sec. 10. No property shall be exempt
d from taxation by reason of any debts
r obligations owing, and all sections
( the public statutes and any provi-
ions thereof, and all acts in addition
hereto or in amendment thereof incon-
istent herewith are hereby repealed.
Sec. IL. All acts and parts of acts and
rovisions of the public statutes incon-
istent with this act are hereby re-
ealed.
Sec. is. This act shall take effect
larch 81, 1918.
Other Work of Senate.
The Senate passed the following
ouse bills. Relating to the Treatment
I dependent and delinquent children;
,lating to brokerage of insurance; re-
ting to fees of keepers of jails; to IN
,rporate the Randolph Savings Bank
Trust Co; to incorporate the Valley
avings bank; relating to the village
Chester; to pay J. G. Mann; to enable
t. Adams to issue negotiable warrants;
'lating to taxation of express COM
anies; relating to rebates for advanced
struction.
The Senate passed its own measures,
! follows: To incorporate the Hart
nd Savings Bank and Trust Cot
Burlington 20 issue bonds
enlarge its electrical plant; amending
1 Incorporating the Second Congrega-
onal society in Brookfield; TO incor-
rate St Michael's college; relating 20
e selling Of milk and cream; relating
accounts Of town treasurers.
The Senate refused TO mass the House I y