Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1932-10-13
EXCHANGE OF STATE AND FED.
ERAl LANDS.
PROPOSED AMENDMENT NO. 4.

SoW READS as follows.
1.-THE credit Of the state shall
never be given or loaned in aid
Of any Individual, association or
corporation, except as hereinafter
provided. Nor shall there be any
further issue of bonds denominat-
ed Minnesota State Railroad
Bonds, under what purports to be
Of article nine (9) of the Consti-
tuition, adopted April 18th. 1858.
which Is hereby expunged from
the Constitution, saving, excepting
and reserving to the state, never
theless. all rights. remedies and
amendment. Provided, however,
that for the purpose of developing
the agricultural resources Of the
state, the state may establish and
maintain a system of rural credits
and thereby loan money and ex-
state upon real estate security In
such manner and upon such terms
and conditions as may be pre-
scribed by law, and to issue and
negotiate bonds to provide money
to be so loaned. The limit of in
debtedness contained in section
Of this article shall not apply to
the provisions Of this section, and
the purposes for which the credit
of the state or the aforesaid NUM-
given or loaned as herein provided
are declared to be public pur-
poses"
If the proposed amendment Is adopt
cd, the section will read as follows:
1.-The credit of the state shall
never be given or loaned in aid OF
any individual. association or cor
poration, except as hereinafter
provided. Nor shall there be any
90 &c e
ed Minnesota State Railroad
Bonds, under what purports to be
an amendment to section ten Q0)
Of article nine 90 of the Consti-
tuition. adopted April Is. 1858,
which is hereby ss sp;Is Iron from
ing and reserving to the state.
nevertheless, all rights, remedies
and forfeitures accruing under
said amendment. Provided, how
ever, that for the purpose OF de-
sources 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
upon such terms and conditions as
may be prescribed by law. and to
issue and negotiate bonds to pro-
vide money to be so loaned. The
limit Of Indebtedness contained in
section 5 Of this article shall not
apply to the provisions Of this sec
ton, and the purposes for which
the credit Of the state or the afore-
said municipal subdivisions there
of may be given or loaned as
herein provided are declared to be
public purposes
"The legislature may authorize
the taxing of any lands, title to
which is acquired by the state
through the operation of such sys-
tenn of rural credits, during the
period such lands are held by the
state. and for the assessment
improvements, and may provide for
the payment of such taxes and
assessments out of the funds aris-
ing from the sale of such bonds
or the operation Of such system of
rural credits In lieu Of such tax
alton the legislature may appro-
pirate out of such funds without
discrimination to all the school
districts, towns, counties. cities,
villages and boroughs In which
money not exceeding the amounts
which would have been realized
by such governmental subdivisions
from the assessments against or
taxation of such lands II private
ly owned"
The Purpose Of the Proposed Amendmer
BY reason Of the operation Of the d
partment Of Rural Credit the state
Minnesota has acquired title to Iarc
amount of improved farm lands. PROP
erty owned by the state is not subIe,
posed amendment is to give the IesI,
lature constitutional authority to sui
ject lands acquired through the ope
alton Of the system Of rural credits
taxation and the payment Of assess
ments for improvements, and to provIt
that such taxes and assessments
paid out of funds arising from the ga
Of bonds or the operation Of such sy
tenn Of rural credits. It Is further u
tended to permit the legislature to a
discrimination, to all the school dI
trlcts, towns, counties, cities, Villaq
and boroughs Of the state in which SUI
lands are located, sums Of money n
exceeding the amounts which won
have been realized by such sover
mental subdivisions from the assessment
against or taxation Of such lands II pI
vately owned.
The Effect Of the Proposed Amendme
| II adopted, the proposed amendme
will enable the legislature, In its dlscr
the state through the operation Of {
system Of rural credits to taxation al
the payment Of assessments, the sar
| as lands privately owned. The iesIsl
| ture may provide that such taxes a
assessments be paid from the ruI
credit funds, or Il may approprls
| from such funds to the school dlstrIc
towns, counties, cities, villages a
borouohs Of the state In which 81
lands are located, without discrimIn
tion, an amount not exceeding VIII
would have been realized by these 90
ernmentai subdivisions from assessmeE
against or taxation Of such lands II p
vateIy owned.
The ballot used at the electi
should have printed thereon the f
lowing:
Fourth:
TAXATION OF RURAL CREDITS
LANDS
Amendment to section 10 OF ar
| ticle Of the constitution of thu
State of Minnesota, to AUTHORIZE
the taxing Of lands acquired b!
the state through the operation o.
the system of rural credits ant
the appropriation of moneys from