Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1932-10-06

L.
ter 419. the legislature has proposed
ind amendment to article 9, section
10, of the constitution. This section
>ow reads as follows:
The credit OF the state shall
never be given or loaned in aid
Of any individual, association or
corporation, except as hereinafter
further issue of bonds denominat-
ed Minnesota State Railroad
Bonds, under what purports to be
an amendment to section ten (10)
Of article nine (9) of the Consti-
tuition. adopted April 18th, 1858.
the Constitution, saving, excepting
and reserYjng to the state, never
theless, all rights. remedies and
forfeitures accruing under said
amendment. Provided, however.
that for the purpose of developing
state, the state may establish and
maintain system of rural credits
and thereby loan money and ex-
tend credit to the people Of the
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-
cipal subdivisions thereof may be
given or loaned as herein provided
are declared to be public pur-
poses"
II the proposed amendment is adopt
cd, the section will read as follows:
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
ed Minnesota State Railroad
Bonds. under what purports to be
an amendment to section ten U0)
OF article nine 90 of the Consti-
tuition. adopted April Is, 1858,
which is hereby expunged from
the Constitution, saving, except
ing and reserving to the state.
and forfeitures accruing under
said amendment. Provided, how
ever, that for the purpose of de-
veloping the agricultural re-
sources OF the state, the state may
establish and maintain a system
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 pro-
vide money to be so loaned. The
limit of Indebtedness contained in
section 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
M W ho ctNy
herein provided are declared to be
public purposes
1.-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
thereof for benefits arising from
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
such lands are located sums of
money not exceeding the amounts
which would have been realized
by such governmental subdivisions
from the assessments against or
taxation of such lands If private
ly owned"
The Purpose Of the Proposed Amendment
BY reason Of the operation Of the De.
partment Of Rural Credit the state oil
Minnesota has acquired title to a large
amount Of improved farm lands, Prop.
erty owned by the state is not subject