The Redwood gazette., 1922-10-18

electors OF SAID state at the general elec
ton in 1922.
PROPOSED AMENDMENT NO. ON
Chapter 52s, Session Laws of Minnesot
ment to section 10 of article 9 of tn
of said state. Said sectio
now reads as follows:
1.-THE credit of the state shall never
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 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-
cruing under said amendment
If amended, said section will read
as follows:
1.-THE credit of the state shall never
be given or loaned in aid Of any indi-
cept as hereinafter provided Nor
shall there be any further issue of
bonds denominated Minnesota State
Railroad Bonds under what purports
to be an amendment to section 10 of
article 9 of the constitution, adopted
April Is, 1858, which is hereto ex-
plunged from the constitution, saving,
nevertheless, all rights, remedies and
forfeitures accruing under said
amendment. Provided, however, that
for the purpose of developing the agri-
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
such terms and conditions as may be
prescribed
negotiate bonds to provide money to
be so loaned. The limit of indebted
ness contained in section of this ar
ticle shall not apply to the provisions
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 th
state by authorizing the lending Of none,
and credit Of the state to the people upol
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.
tenn of rural credits. The Legislature will
be empowered to provide money by thu
Issuance and negotiation Of bonds Of tn.
state to be loaned upon real estate secur
ity to the people Of the state, and will b.
enabled to prescribe the terms and con
ditona upon which such money may b.
be no limit of indebtedness In this respect
and the state will be enabled to Issue anc
negotiate Is many bonds for this purpose
as 1t deems advisable.
PROPOSED AMENDMENT NO. TWO
Chapter 529, Session Laws of Minnesota
for the year 1921, proposes an amendment
to the constitution of the state of Mime
sofa by adding a new section to article 8
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-
duclng iron ore or other ores in this
state, shall pay to the state of Min
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-
stock company, corporation or asso-
citation however or for whatever pur-
pose organized, on May first Of the
calendar year next following the
mining 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; ff-
ty per cent to the state general rev.
enue fund, forty per cent to the per-
manent school fund and ten per cent
to the permanent university fund. The
legislature shall by law make the
necessary provisions for carrying out
the provisions of this section"
The PURF<sE Of said amendment ID
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
,re or other ores In this state, In addition
10 other taxes Imposed by law, at rate,
passed upon the valuation OF the ore pro.
duced. to be determined by the Legislature
md to provide for the proportionate dis.
tribution OF such taxes to the general
revenue fund, the permanent school fund,
md the permanent university fund.
Tho EFFECT Of the amendment, II
adopted, will be to direct the legislature
o impose and keep In effect such tax
Ipon those engaged In said business; and
% require that tie proceeds Of such tax
. shall be distributed In the manner
to-wit: fifty per cent to the
tate general revenue fund, forty per cent
% the permanent school fund, and ten
,es cent to the permanent university
und.
Yours respectfully,
CllFFOROI. HILTON,
Attorney General