New Ulm review., 1922-10-11

of Minnesota by the legislature of 1921
and which are to be submitted to the
electors Of said state at the general elec-
ton in 1922.
PROPOSED AMENDMENT NO. ONE
Chapter 52S, Session Laws of Minnesota
ment to. section 10 of article 9 of the
constitution of said state. Said section
now reads as follows: =
be given or loaned in aid of any in
dividual,, association or corporation.
Nor shall there be any further issue
of bonds denominated Minnesota
state state railroad bonds under what
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;
rights, remedies and forfeitures ac-
cruing 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
vidual association or corporation, ex-
cept as hereinafter provided. Nor
Snad sha there be any fTrther issue Of
Railroad Bonds under what purports
article 8 Of the constitution, adopted
April IS, 1858, which is hereto .ex-
plunged from the constitution. saving,
excepting and reserving to the state:
forfeitures 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 a
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
be SO loaned. The limit Of Indebted
ness contained in section 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
herein provided are declared to be
The PURPOSE of said amendment Is t
develop the agricultural resources of the
state by authorizing the lending Of none,
and credit Of the state to the people upor
real estate security.
the EFF.EEcT of said a.amendment, !
ment Of laws by the legislature for the
tenn Of rural credits. The legislature viii
be empowered to provide money by thu
Issuance and negotiation Of bonds Of the
state to be loaned upon real estate secur.
enabled to prescribe the terms and con
ditiona upon which such money may bs
lent and such credit extended. There vii
be no limit Of indebtedness In this respect
and the state will be enabled to Issue ant
negotiate as many bonds for this purposi
as 1t deems advisable.
PROPOSED AMENDMENT NO. two
Chapter 529, Session Laws of Minnesota
for the year 1921, proposes an amendmen
to the constitution of the state of Mime
to be known as section la, to read as fol
lows:
Every person, co-partnership, COM
pany, joint stock company, corpora
ton, or association, however or for
whatever purpose organized, engaged
in the business Of mining or pro-
ducing iron ore or other ores in this
state, shall pay to the 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, co-partnership, company, joint
stock company, corporation or asso-
citation however or for whatever pur-
pose organized, OH May first of the
Calendar year next following tho
uation of ore for the purpose of de-
termining the amount Of tax to be
paid shall be ascertained in the man
ner and method provided by law.
provided for shall be sapportioned; ff-
ty per cent. to the state general rey--
enue fund, forty per cent to the per-
manent school fund and ten per cent
to thespermanent university fund. The
legislature. shall by law make the
necessary provisions for carrying out
the provisions Of this section"
The PURPOSE Of said amendment
TO direct the legislature OF the- state G
Mlnnes6ta to impose and TO- KEEP IN effee
ar occabation taYspon those engaged
the business .ofs:nJritng or producfng, lro
ore or2pther ores in this state, In additio
70 other taxes imposed by law, at rat
based upon the valuation Of the ore pre-
duced, to be determined by the legislator
and to provide for the proportlonate dis
tribution of such taxes TO the gener;
revenue fund, the permanent schoo! fun'
and the permanent university fund.
The EFFECT Of the amendment,
adopted, Will be to direct the legislatur
ts impose and keep In effect such a ia
uhan those engaged In said business; an
70 require that the proceeds OF such taS
es shall be distributed IN the nanne
Following to-wit: fifty per cent to th
state general revenue fund, forty per Ger
TO the permanent school fund, ana &c
per cent to the permanent unlversls
fund. 54
. Yours respectfully,
tEs CLIFFORD L. HILTON,
ass aasssG=.=,. e. Issa, Attorney General.
r uc+roc y,,e sfo11nr, +h q hines shnf {In1