Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1922-10-27

tlOO IN 1917.
PROPOSED AMENDMENT NO. ONE
Chapter 52S, Session Laws of Minnesota
the 1921 an on
constitution Of said state. Said section
now reads as follows:
1.-THE credit of the state shall never
BE- given or Leaned in aid Of in
Nor shall there be. any further issue
state railroad bonds under what
purports to be an amendment to sec
ton 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 &C.
cruing under said amendment"
II amended. said section will read
"The credit of the state shall never
BE given or Loaned ned in aid Of a 4'y ind"
,,cept as hereinafter provided. Nor
bonds denominated Minnesota State
Railroad Bonds under what purportss
article 9 Of the constitution. adopted
April Is, 1858, which is hereto ex-
excepting and reserving to the state.
nevertheless, all rights, remedies and
forfeitures accruing under said
amendment. Provided, however, that
for the Of qPh the ag
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
Sersn preydsd s afe de S ape to Is
public purposes"
The PURPOSE of said amendment Is +
develop the agricultural resources OF TIL
and credit Of the state to the people upoi
Ths EFFEcT q said amendment, -!
adopted, viii be to authorize the enact
nent Of laws by the legislature for tn
tenn Of rural credits. The legislature vii
be empowered to provide money by tn.
Issuance and negotiation Of bonds Of thu
state to be loaned upon rea! estate secur
enabled to prescribe the Terms and con.
dItlona upon which such money may b
lent and such credit extended. There vii
be no limit Of Indebtedness In this respect
and the state will be enabled to issue anc
negotiate as 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 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
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
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
citation however or for whatever pur-
pose organized, on May first of the
calendar year next following the
mining OF 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
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 PURPOSE Of said amendment ID
60 dIrect-&he legislature Of the state 81
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
to other taxes imposed by law, at rate.
based upon. the valuation Of the ore pro-
duced. to DO determined by the legislature
and 70 provide for the proportlonate dis:
trlbutIon Of such taxes to the general
revenue fund, the permanent school fund
and tho permanent university fund. =.
Tho EFFECT Of the amendment, II
adopted, will be to direct the legislature
to impose and keep In effect such tax
upon those engaged In said business; and
to require that the proceeds Of such tax
60 shall be 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. y
Yours respectfully,
,E$@s "a: CLIFFORD L. HILTON,