Warrum also introduced the pioneer proposition on finance. After giving power to tax, and making and usual exemptions, it provides against duplicate taxation of the same property, for the same purpose in the same year; against the use of public money for profit or ilegal purpose by any public officer; and prohibiting excess of expenditure over annual tax income except for war or insurrection. The board of equalization si to consist of the governor, secretary, attorney-general, auditor and treasurer; county board is the county court, with mayors of first and second class cities associated when city taxes are up. The state is to assume the territorial debts, but not the debts of any public or private corporation. Except in case of war or insurrection state taxes shall not exceed 1 per cent. The debt limit for states, county or city is not to exceed 4 per cent. The credit of the state or any subdivision is not to be given to aid private persons or corporations. Taxes must be expended for public purposes only Committee on Revenue, taxation and public debt.

[Below is the transcript of File No. 59]

Sec.1-. The fiscal year shall commence on the second monday in January in such year unless otherwise provided by law.

Sec.2_. The Legislature shall provide by law for an … tax to be levied by valuation for all state purposes, and … … to subdivisions of the State the power to levy taxes and tax the rate thereof for all other purposes .. … provided for.

Sec.2-. The Legislature may also provide for … …, .. for license …: … … … … … .. .. the State.

Sec.4-. The … of .. .. .. the State, counties, public corporations and public … shall be exempt from taxation.

Sec.5_. The Legislature may exempt from taxation all church property used in religious worship, all charitable institutions and such other property as may from time to time be … worthy such exemption and all exemptions now existing .. the Territorial laws shall continue until changed by the legislature on the State.

Sec.6-. Duplicate taxation of property for the same … … the .. year as hereby appointed.

Sec.7-. No public officer shall use any money collected by taxation for a profit or for any other purpose not provided by law.

Sec.8-. No expenditure for any purpose shall be made or authorized which shall excuse the total tax levied during the current year for that purpose except in case of war or insurrection.

Sec.9-. There shall be a State Board of Equalization consisting of the Governor, Secretary of State, Attorney General, State Auditor and State Treasurer whose duties shall be provided by law.

Sec.10-. The county commissioners shall constitute equalization .. for their respective counties with … of first and second class cities associated … considering the taxes of such cities. The duties of said county … shall also be prescribed by law.

Sec.11-. The Legislature shall pass all laws necessary to carry out the provisions of this article and regulate the … … … … taxes.

State Debt

Sec.1-. The State shall assume the debts of the Territory .. not … of any public or private corporations.

Sec.2-. The Legislature shall provide for the payment of … State … … … the current expenses of the State … the people of the State shall not be taxed to exceed the sum of one per cent per annum … the … property … the State for such purposes: except in case of war or insurrection.

Sec.3-. The limit of the indebtedness of this State or any subdivision thereof, shall not exceed four per centum or … … property as … … by the last returns or authorization tax collectors. Nor shall the credit of the State or any political subdivision thereof be given in and of any person, company or corporation neither the State … … political subdivision thereof shall ever own capital … … … as joint owners, any interest in the business of ... , corporations … or companies: and all taxes collected by the State or by any subdivision thereof shall be expended for public purposes only.

• Proposition Relative to Finance and State Debt [File No. 59] (introduced on 1895-03-15 10:00:00 - CREATE_FROM - e697549) [This document]

• Proposition Relative to Finance and State Debt [File No. 59] (introduced on 1895-03-15 10:00:00 - CREATE_FROM - e697549) [This document] [view current proposal at this moment]