New Ulm review., 1922-10-25

PROPOSED AMENDMENT NO. ONE
for the year 1921 proposes an amend
ment to section 10 of article 9 of tn
of said state. Said sectio,
now reads as follows: X,
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,..
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
vidual, association or corporation, ex-
cept as hereinafter provided. Nor
shall there be. any further issue Of
bonds deunmina[Ad 'AF;nnas"+a S+ato
Railroad Bonds inder what purports
to be an amendment to section 10 OF
article 9 of the constitution, adopted
April Is, 1853, which is hereto ex-
plunged from the constitution, saving,
excepting and reserving to the state.
nevertheless, all rights, remedies and
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
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 in section of this ar
ticle shall not apply to the provisions
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
public purposes
The PURPOSE of said amendment Is Il
develop the agricultural resources of th'
state by authorizing the lending Of mons,
real estate security.
The EFFECT Of said amendment, :
adopted, will be to authorize the enact
ment of laws by the legislature for tn,
tenn Of rural credits. The legislature viii
be empowered to provide money by TIL.
Issuance and negotiation of bonds OF the
etate to be loaned upon real estate secur:
enabled to prescribe the terms and con
ditons 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 ant
negotiate as many bonds for this purpos.
as it deems advisable. '7'@ ..t
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
sofa by adding new section to article 9
10 be known as section LA, to read as fol
bows:
EVERY person, 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
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-
calendar year next following the
mining or producing thereof. The val
uation Of ore for the purpose of de-
termining> the amount of tax to be
her @ 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 thesper-
manent school fund and ten per cent
70 the permanent univ rsity: fund. The
legislature Shall by law make rs the
necessary provisions for rfTfrig out
the provisions: of this secti6Ng 5IFsSsahs
The PURPOSE ;of said amgFdment Il
to direct tESat legislature. OF ssttie state p
Minnes s6tasto impose and to skssp II effec
Sn occupaffonltax pon thossse ffgagedSh
the business Of mining or produclng ir3
ore or other ores In this state, In addltto
70 other taxes Imposed by law, at a rate
based upon the valuation of the ore pro
diced, to be determined by the Iegislatur
and to provide for the proportionate dis
frtbution Of such taxes to the genera
revenue fund, the permanent schoo! func
and the permanent university fund. &
The EFFECT Of, the amendment, i
adopted, will be to- direct the legislator
~ impose and keep In effect such, ia
uton those engaged In said business; an
70 require that the proceeds OF such tax
es shall be distributed IN the rr1anne
following, to-wt: fifty per cent to tn
state general revenue fund, forty per cen
TO the perma nent school fund, and te
per cent to the psfmanent unlversit
Yours RESPECTFULLY,
y. Ia|g4a CLIFFORD Il. Hit ON,
glHa. W.! Attorney General.
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