New Ulm review., 1922-10-18

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HONORABLE MIKE HOLM,
Secretary Of State,
SIR: o'0''0''
AS required by section 46, General Sta
tutes of the state of Minnesota for tn
year 1918 I have the honor to furnis is
You, herewith, statement of the puI
wpses and effects Of all amendments pro
POSED to the constitution of the stat
OF Minnesota by the legislature of 1872
ana which are to be submitted to tn
electors Of said state at the general cleo
ton in 1922.
PROPOSED AMENDMENT NO. ON.
: Chapter 52S. Session Laws of Minnesot
tor the year 1921 proposes an amend
ment to section 10 of article of tn
constitution of said state. Said sectio
now reads as follows: =
The credit of the state shall never
be given or loaned in aid Of any in
6lVldual, association or corporation.
Nor shall there be any further issue
of bonds denominated Minnesota
state railroad bonds under what
purports to be an amendment to Sec
tion ten of article nine, of the consti-
tuition, adopted April Is, 1858, which
is hereby expunged from the consti-
tuition, saving, excepting and reserv-
ing to the state, nevertheless, all
rights, remedies and forfeitures ac-
cruinS under said amendment"
If amended, said section will read
as follows:
The credit Of the state shall never
be given or loaned in aid of any indi-
-viduaf;- association or corporation, ~ex-
cept, as hereinafter provided. Nor
shall there be any further issue Of
bonds daunminaAAd t'MinnAsn+a s+atA
Railroad Bonds under what purports
to be an amendment to section 10 Of
article of the constitution, adopted
April Is, 1858, which is hereto ex-
plunged from the constitution. saving,
excepting and reserving to the state,
nevertheless, all rights, remedies and
forfeltures accruing under said
amendment. Provided, however, that
for the purpose Of developing the agri-
cultural resources of the state, the
state may establish and maintain
loan money and extend credit to the
people Of the state upon real estate
security in such manner and upon
such terms and conditions as may be
prescribed by law. and to issue and
negotiate bonds to provide money to
be so loaned. The limit of Indebted
ness contained inSsection of this ar
ticle shall not apply to the provisions
OF this section. and the purposes for
aforesaid municipal subdivisions
thereof may be given or loaned as
herein provided are declared to be-
public purposes"
The PURPOSE of said amendment Is t
develop the agricultural resources Of. tn
state by authorizing tfe. lending of mons,
and credit Of The state to the people upri
real estate security.
The EFFECT of said amendment,
adopted, will be to authorize the enact
ment OF laws by the legislature for tn
establishment and maintenance OF a sys
TEN OF rural credits. The legislature vii
be empowered TO provide money by TIL
Issuance and negotiation Of bonds Of th
state 20 be loaned upon real estate sesur
Ity to the people of Ihe state, and VIII b
enabled to prescribe the terms and con
ditcnS upon which such money. may b.
lent and such credit extended. There will
be no limit of Indebtedness In this respect
and the state will be enabled to Issue an,
negotiate IS many bonds for this purpos
as it deems advisable. e..
PROPOSED AMENDMENT NO.'TW(
Chapter 529, Session Laws of Minnesot;
for the year 1921, proposes an amendmen
to the constitution of the state of Mime
Hota by adding new section to article
20 be known as section La, to read as fol
lows: - s
pany, Joint stock. company, corpora i
ton, or associa ton, & however or for /
whatever purpose organized, engaged
in the business Of mining or pro-
state, shall pay<<tofthe state of Min
nesota an occupation tax on the val
uation of all ores mined or produced,
which tax shall" be in addition to all
other taxes provided by law, said tax
to be due and payable from such per-
son, o-partnership, company, joint.
stock company, corporation or asso-
citation however or for whatever pur-
pose organized, on May first Of the
calendar year next following the
uatfon of ore for the purpose Of de-
ternaning the amount Of tax to be
paid shall be ascertained in the man.
ner and method provided by law.
Funds ,derivettsfrom the tax herein
provided for Shall be apportioned; fif-
ty pEr cent to The state general rev.
enue, fund, forty per cent to the per-
manent school fhndaand ten per cent
to the a5er,n5neNt University fund. The
legis5a6,tre SHAH by law make the
the Npfa9fsfoq this section
10 diAaeStSsS IeNsIa tura5loff the I;stateSso
ldlnnesHa>> 10 >lndW Sc aid To- keep In seffec
IN ooeipatior tax :::5on those engaged Il
ne business Of mining or producing iroi
IRE or other ores in this state, in addition
% other taxes imposed by law, at rate
based upon the valuation of the ore pro
iuced, to be determined by the Legislature
and to provide for the preportionate dis
revenue fund, the permanent school fund
and the permanent university fund.
The EFFECT Of the amendment, 1
adopted, will be to direct the Legislature
a Impose and keep In effect such ia,
lson those engaged In said business; ane
20 reuuire that the proceeds of such tax
IS shall he distributed IN the manner
to-W't: fifty per cent to the
state general revenue fund, forty per cent
% the permanent school fund, and ter
Der cent to the permanent universlt,
fund.
Yours respectfully,
CLIFFORD l.. HILTON,
l.garzs Attorney General.
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