The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1942-10-22
]. A. A. BURNQUIST
Attorney General


]. A. A. BURNQUIST
Attorney General
st. Paul. Minnesota. January 20, 1912
Honorable Mike Holm
Secretary of State
State Capitol
st. Paul. Minnesota
Dear Sir:
In compliance with the provisions of
the 1941 Supplement to Mason's Minne-
sofa Statutes of 1927. Section as. l make
this statement of the purpose and effect
Of the amendments proposed to the con-
of Minnesota to he voted on at
the November 3. 1912 general election in
with Laws 194l. Chapters III
and 555.
PROPOSED AMENDMENT NUMBER
BY the enactment of Laws 1871, Chap
ter III. the legislature has proposed an
to Article 3. Section 6, of the
This section now reads as follows:
1.-THE permanent school and univer-
sity fund of this state may he invest
ed in the bonds of any county. school
district, city. town or village of this
state, and in first mortgage loans Sc
cured upon improved and cultivated
farm lands of this state But no such
investment or loan shall he made I'M 40
Ill approved by the board of commits
sioners designated by law to regulate
the investment of the permanent
school fund and the permanent uni
versty fund of this state; nor shall
such loan or investment he made
when the bonds to be issued or pur-
chased would make the entire bonded
Indebtedness exceed Is per cent of
the assessed valuation of the taxable
trict. city, town or village issuing
such bonds; nor shall any farm loan
or investment be made when such
investment or loan would exceed 80
per cent of the actual cash value of
the farm land mortgage to secure
said investment, nor shall such in
vestments or loans he made at
lower rate of interest than per cent
per annum, nor for shorter period
than five years, nor for a longer
period than thirty years. and no
change of the town, school district.
city. village or of county lines shall
relieve the real property in such
town, school district, county, village
or city in this state at the time OF
issuing of such bonds from any LA
bility for taxation to pay such bonds"
If amended as proposed by the legisla-
ture. this section will read as follows:
1.-THE permanent school, permanent
university and swamp land funds of
this state may be loaned to or invest
ed in the bonds Of any county, school
district. city. town. or village of this
state and in first mortgage loans Sc
cured upon improved and cultivated
farm lands of this state. but no such
investment or loan shall be made I'M
til approved ny the board of commits
sioners designated by law to regulate
school fund and the permanent uni
versity fund of this state; nor shall
such loan or investment be made
when the bonds to be issued or pur-
chased would make the entire bonded
Indebtedness exceed Is per cent of
the assessed valuation of the taxable
property. of the county, school dis
such bonds; nor shall any such farm
loan or investment he made when
such investment or loan would exceed
80 per cent of the actual cash value Of
the farm land mortgaged to secure
said investment; nor shall such in
vestments or loans be made at a
lower rate of interest than two per
cent per annum. nor for shorter
period than one year nor for longer
period than 80 years and no change
of the town, school district, city, viii
lage, or county lines shall relieve the
real property in such town, school
district, county, village or city in this
state at the time Of issuing such
bonds from any liability for taxation
TO pay Such DOndS.
PURPOSE AND EFFECT
The purpose and effect of this proposed
amendment Is to reduce the rate of In
terest at which certain of the states per-
manent trust funds may be loaned to, or
invested In the bonds OF any county, city,
village, town, or school district In the
state from three per cent per annun1 to
two per cent per annum; also to reduce
the minimum term for which such loans
and investments may be made from five
years to one year, and also to Include the
swamp land fund among the states trust
funds which may be so loaned and In
vested.
PROPOSED AMENDMENT NUMBER Z
By the enactment of Laws 1871, Chap
ter 555, the legislature proposed an
amendment to Section sc of Article Nv OF
the constitution and required its proposal
to be stated on the ballot thus:
Shall Article ", Section sc, of the
constitution be amended so as to SIM
plify and reduce the expense of pub
fishing amendments to home rule
charters of cities and villages?
The part of the section in which q
change is proposed now reads as follows
"' - Such charter so deposited
may be amended by proposal therefor
made by a board of fifteen commits
sioners aforesaid, published for at
least thirty days in three newspapers
of general circulation in such city or
of the qualified voters of such city or
village voting at the next election and
not otherwise; but such charter shall
always be in harmony with and sub
ject to the constitution and avs of
the state Of Minnesota
If amended as proposed by the legisla.
ture, the same part of this section will
read:
:" : Such charter SO deposited
may be amended by proposal therefor
made by a board of fifteen commits
sioners aforesaid. published for at
least once each week for four sue
cessive weeks in legal newspaper of
village. and accepted by three ifths
of the qualified voters of such city or
village voting at the next election
shall always he in harmony with and
subject to the constitution and laws
of the state of Minnesota. ."
PURPOSE AND EFFECT
The purpose and effect of the proposed
amendment Is to require publication o
amendments to home rule charters ono,
each week for four t4) successive weeks
tlon In such city or village instead o
publication In three (3) newspapers o
general circulation In such city or village
for at least thirty $500 days as now re
quired.
There are many cities and Villages
which do not have three local newspa
pers. In such cases, under the presen
provision, publication must be made II
newspapers printed elsewhere and crcu
IatIng locally. II the proposed amend
ment Is adopted, publication will be re
quired In only one % qualified newspape
four (4) times, thereby reducing the diff
Guilty and expense of amending home ru
charters.
Very truly yours,
J. A. A. BuRNQUIST,
ID Attorney General.
Deer Chases Dog