Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1942-10-22
Proposed
Amendments
to the
Constitution
Minnesota
To be submitted at 1912
General Election
STATE OF MINNESOTA
LEGAL DEPARTMENT
]. A. A. BURNQUIST
Attorney General
st. Paul. Minnesota, January 20, 1919
To be submitted at 1912
General Election
]. A. A. BURNQUIST
Attorney General
Honorable Mike Holm
Secretary of State
State Capitol
st. Paul. Minnesota

Mike f1Olm
Secretary of State
State Capitol
st. Paul. Minnesota
Dear Sir:
In compliance with the provisions o
The 1941 Supplement to Mason's Mime
sofa Statutes of 1927, Section As, I max,
his statement of the purpose and effec
If the amendments proposed to the con
,titution of Minnesota to be voted on q
he November 3, 1912 general election II
with Laws 1871. Chapters II
and SIS.
PROPOSED AMENDMENT NUMBER
BY the enactment of Laws 1941, Chap
ter Ill, the legislature has proposed n
to Article 8. Section 6. Of tn,
This section now reads as follows:
1.-The permanent school and un'ver-
sity fund Of this state may be 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 by the board of commits
sioners designated by law to regulate
the Investment OF the permanent
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
trict. city, town or village issuing
such bonds; nor shall any farm loan
or investment be made when such
investment or loan would exceed 30
~ fha nnch ~
the farm land mortgage to secure
said investment, nor shall such in
vestments or loans be made at q
lower rate Of interest than per cent
per annum. nor for shorter period
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
issuing of such bonds from any liza
bility for taxation to pay such bonds"
II amended as proposed by the legisla-
ure, 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:
farm lands of this state. but no such
investment or loan shall be made I'M
til approved ny the hoard of commits
sioners designated by law to regulate
the investment of the permanent
school fund and the permanent uni
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
-. - l.
property of the county. school dis
trict, city. town. or village issuing
such bonds; nor shall any such farm
loan or investment be made when
such investment or loan would exceed
80 per cent of the actual cash value of
said investment; nor shall such in
veStments or loans be made at q
lower rate Of interest than two per
cent per annum, nor for shorter
period than 80 years and no change
of the town, school district, city, vil-
lage, or county lines shall relieve the
real property in such town. school
district, county, village or city in this
bonds from any LIABILITY 1T for tsxaon
to pay such bonds"
PURPOSE AND EFFECT
The purpose and effect of this proposed
mendment is to reduce the rate Of in
crest at which certain Of the states per.
lament trust funds may be loaned to, or
invested In the bonds Of any county, city.
ilIage, town, or school district In the
tate from three per cent per annum 20
wo per cent per annum; also to reduce
he minimum term for which such loans
nd investments may be made from five
ears to one year, and also to Include the
wamp land fund among the states trust
unds which may be so loaned and In
'ested.
PROPOSED AMENDMENT NUMBER 2
By the enactment of Laws 1914. Chap
er 555. the legislature proposed an
mendment to Section So Of Article Nv Of
ne constitution and required its proposal
D be stated on the ballot thus:
Shall Article Nv. 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
hange is proposed now reads as follows:
80 Such charter SO deposited
may be amended by proposal therefor
made by board of fifteen commits
sioners aforesaid, published for at
least thirty days in three newspapers
of general circulation in such city or
village. and accepted by three. fifths
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 Jaws Of
the state of Minnesota I"
lre. the same part of this section will
cad:
Such charter so deposited
may be amended by proposal therefor
made by a board Of fifteen commits
sioners aforesaid. published for at
cessive weeks in a legal newspaper Of
general circulation in such city or
village, and accepted by three-fifths
Of the qualified voters Of such city or
village voting at the next election
shall always be in harmony with and
subject to the constitution and laws
OF the state Of Minnesota. 80
PURPOSE AND EFFECT
mendment 10 to require publication q
mendments to home rule charters once
ach week for four 90 successive weeks
I Q legal newspaper OF general clrcula-
lon In such city or village instead Of
enerai circulation In such city or village
uired.
There are many cities and villages
which do not have three local newspa-
ers. In such cases, under the present
revision, publication must be made In
eWspapers printed elsewhere and cIrcu-
atin9 locally. u the proposed amend
nent 10 adopted, publication will be re-
ulred In only one (D qualified newspaper
our (4) times. thereby reducing the diff
uity and expense OF amending home rule
very truly yours,
!. A. A. eURNQUlsT,
Attorney General