The Princeton union., 1922-10-19

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OFFICE ,es1E Of oeA34' 344osNEY oMs;SE5sSE1l sGaGleAl.
HONORABLE MIKE HOLM, S%e ~ 1'1S'
seesretiry e,pifo|y OF State
As required by section 4e, General Sta
tutes OF the state of Minnesota for the
year 1913. have the honor to furnish
poses and effects Of all amendments pro-
posed to the constitution of the state
OF Minnesota by the legislature. Of 1921
and which are to be submitted to the
electors OF said state at the general elec-
tion in 1922.
PROPOSED AMENDMENT NO. ONE
Chapter 62S. Session Laws Of Minnesota
noent to section 70 Of article 9 Of the
now reads as follows:
'The credit Of the state shall never
be given or loaned in aid of any in
dividual,. association or corporation.
Of bonds denominated 'Minnesota
state railroad bonds,' under what
purports to be an amendment to sec
tion ten Of article nine, of the consti-
is hereby expunged from the the consti- %
tuition, saving, excepting and reserv-
ing to the state, nevertheless, all
rights. remedies and forfeitures ac-
II amended, said section will read
as follows:
"The credit of the state shall never
be given or loaned in aid of any indi-
vidual. association or corporation. ex-
cept as hereinafter provided. Nor
shall there be any further issue Of
bonds denominated Minnesota State
Railroad Bonds under what purports
article aq ba Of fhs to Ses0n 10 Of
April Is, 1853, which is hereto ex-
plunged from the constitution, saving.
excepting and reserving to the state,
nevertheless, nevertheless, all rights. remedies and
amendment. Provided, however, that
for the purpose of developing the agri-
cultural resources Of the state, the
system Of rural credits and: thereby
loan money and extend credit to the
people Of the state upon real estate
security In such manner and upon
prescribed by law, and to issue and
negotiate bonds to provide money to
be so loaned. The limit Of indebted
ness contained in section s of this ar
OF. this section, and the purposes for
which the credit of the state or the
aforesaid municipal subdivisions
thereof may be given or loaned as
pnbiic nSbSe purOoaee Rrooaeee are declared TO De
The PGRPosE Of said amendment I. to
develop the agricultural resources Of the
and credit Of the state to the people n upon
The e'teis efFEe% sSs4''ex' y said amendment, !,
law. b BY e the sse ,or e.:
establishment and maIntenance Of a sys.
tenn OF rural credits. The legislature will
be empowered to provide money by the
state to be loaned upon real estate secur-
Ity to tho people Of tho state, and will be
enabled to prescribe the terms and con.
d'tlona upon which such money may be
be no limit Of Indebtedness In this respect,
and the state will be enabled to Issue and
negotiate as many bonds for this purpose
as 1t deems advisable.
PROPOSED AMENDMENT NO. TWO
Chapter 52s Session Laws of Minnesota
to the constitution Of the state tai % Of Mime.
sofa by adding new section to article 9,
to be known as section LA. to read as fol-
Every person, co-partnership, com
pany, joint stock company, corpora
ton, or association, however or for
whatever purpose organized, engaged
ducing iron ore or other ores in this
state, shall pay to the state of Min
nesota an occupation tax on the val
uatlon OF az 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., co-partnership, company, Joint
stock company, corporation (s asso-
citation however or for whatev,s pur-
p; pose organized, on May first the
mining tian o or producing thereof: The val
termining the amount of tax to be
paid shall be ascertained in the man
ner and method provided by law
Funds derived from the tax herein
provided for shall be apportioned; f1f-
ty per cent to the state general rev.
enue fund, forty per cent to the per-
to the permanent university fund. The
legislature shall by law make the
necessary provisions for carrying out
the provisions of this section"
The PURPOSE Of said amendment 70
to direct the legislature Of the state Of
Minnesota to impose and to keep In effect
an occupation tax upon those engaged In
the business Of mining or producing iron
ore or other ores In this state, In addition
based upon tho valuation of the ore pro-
duced. to be determined by the legislature
and to provide for the proportionate dis
trIbution Of such taxes to the General
revenue fund, the permanent school fund.
and the permanent university fund.
The EFFECT Of the amendment, II
adopted, will be to direct the legislature
upon those engaged In said business; and
to require that the proceeds Of such tax.
es. shall he distributed In the manner
following, to-wit: fifty per cent to the
state general revenue fund, forty per cent
to the permanent school fund, and ten
per cent to the permanent university
fund.