Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1942-10-08
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, 1912
Honorable Mike Holm
Secretary of State
State Capitol
Honorable Mike Holm
Secretary of State
State Capitol
st. Paul. Minnesota

Secretary of State
State Capitol
st. Paul. Minnesota
Dear Sir:
the 1941 Supplement to Mason's Mime
sofa Statutes of 1927, Section 46, 1 max
this statement of the purpose and effec
OF the amendments proposed to the con
stitution of Minnesota to be voted on a
the November 3. 1912 general election i
and 555
PROPOSED AMENDMENT NUMBER
By the enactment of Laws 1941, Chap
ter III, the legislature has proposed a
amendment to Article 8. Section 6. of tn
constitution.
This section now reads as follows:
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 UNI
til approved by the board of commits
sioners designated by law to regulate
the investment of the permanent
school fund and the permanent uni
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
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 soan would exceed 30
per cent Of the actual cash value of
nd 70
said investment, nor shall such in
vestments or loans be made at a
lower rate of interest than per cent
per annum, nor for a 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"
ture. this section will read as follows:
1.-THE permanent school. permanent
university and swamp land funds of
thiS state may he loaned to or invest
ed in the bonds of any county. school
district, city. town, or village of this
cured upon improved and cultivated
farm lands of this state. but no such
investment or loan shall be made un-
til approved by the hoard 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 such 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 mortgaged to secure
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 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 OF city in this
state at the time of issuing such
bonds from any liability for taxation
to pay such bonds"
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
trust funds may be loaned to. OF
Invested In the bonds Of any county, city
village, town, or school district In thu
state from three per cent per annum &
two per cent per annum; also to reducs
the minimum term for which such loan.
and Investments may be made from hvt
years to one year, and also to include tn
swamp land fund among the states trus
funds which may be so loaned and In
vested.
PROPOSED AMENDMENT NtIMRER
By the enactment Of Laws 1941, Chap
ter 555, the legislature proposed al
amendment to Section Sc Of Article Nv o
the constitution and required its propose
to be stated on the ballot thus:
Shall Article ~, Section SO. 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?"
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
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 Avs Of
the state of Minnesota ."
II amended as proposed by the legisla
ture. the same part of this section viii
read:
-" Such charter SO deposited
may be amended by proposal therefor
made by q board Of fifteen commits
sioners aforesaid. published for at
least once each week for four sue
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
and not otherwise; but such charter
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 propose,
amendment Is to require publication o
to home rule charters ono
each week for four (4) successive week
In . legal newspaper Of general clrcuia
ton t.,n,, In =, such city or village instead .
general circulation In such city or viliaq
for at least thirty (30) days as now re
quIred.
There are many cities and village
which do not have three local newspa
pers. In such cases, under the presen
newspapers printed elsewhere and circu
latin9 locally. u the proposed amend
ment u adopted, publication will be re
CURED In only one (1) qualified newspape
four (4) times, thereby reducing the diff
Guilty and expense OF amending home rui'
very truly yours,
i. A. A. 8URNQUiS1.
Attorney General