General appropriations. printing world's fair books, as per order To Charles De Moisy, assignee, in full for To Fred Turner, sheriff of Cache county, in To the Reed Hotel company, Ogden, for board To the Reed Hotel company, Ogden, in full To the Reed Hotel company, Ogden, in full To the Reed Hotel company, Ogden, in full To the Reed Hotel company, Ogden, in full To J. W. Whitehead, Jr., ex-Territorial $ 400.00 4.221.10 284.15 217.00 9.50 7.00 1.50 1.50 100.00 Exchange National Bank, N. Y., for cancelling interest coupons To American Exchange National Bank, N. Y., in full for amount of interest now due on coupons .... To Wells, Fargo & Co., N. Y., in full for amount now due for cancelling interest coupons Unlawful to by consent. Sec. 2. It is hereby declared unlawful for any exceed approState officer or State board of any of the institutions of priation except the State to contract any indebtedness in excess of the appropriation herein provided, except by and with the consent of the State Board of Examiners, previous to the contraction of such indebtedness. with State Sec. 3. All statements for claims and bills for Bills to be filed money appropriated herein shall be filed with the State Auditor. Auditor before warrants shall be drawn for the same. Sec. 4. All moneys herein appropriated shall be Manner of paid out of the State treasury in the manner prescribed payment. by law. to be dupli Sec. 5. Payment for salaries or other expenses Payments not included in this act shall not be duplicated, if it shall cated. appear that they are covered by appropriations made heretofore by special laws. Sec. 6. All acts and parts of acts in conflict herewith are hereby repealed. Sec. 7. This act shall take effect upon approval. CHAPTER CXXIX. REVENUE ACT. AN ACT prescribing the mode of making Assessment, Equalization, Levy and Collection of Taxes for raising Revenue, and for other purposes relating thereto, and repealing all acts and parts of acts in conflict therewith. Be it enacted by the Legislature of the State of Utah: SECTION 1. All property in this State, not exempt Property taxed under the laws of the United States, or under the Con- to proportion value. exempt from taxation. stitution of this State, shall be taxed in proportion to its value, as hereinafter provided. Sec. 2. The property of the United States, of the Puplic property State, counties, cities and towns, (when necessary for municipal purposes or when no revenue is derived therefrom), school districts, and public libraries, lots with the buildings thereon, used exclusively for either religious worship or charitable purposes, and places of burial not held or used for private or corporate benefit. shall be exempt from taxation. Ditches, canals and not to be taxed flumes, owned and used by individuals or corporations for irrigating lands owned by such individuals or corporations, or the individual members thereof, shall not be separately taxed so long as they shall be owned and used exclusively for such purpose. Ditches, etc., for irrigating separately. claims, mining net proceeds of mines. Sec. 3. All mines and mining claims, both placer Mines, mining and rock in place, containing or bearing gold, silver. machinery and copper, lead, coal or other valuable mineral deposits, after purchase thereof from the United States, shall be taxed at the price paid the United States therefor, unless the surface ground or some part thereof of such mine or claim is used for other than mining purposes and has a separate and independent value for such other purposes, in which case said surface ground or any part thereof so used for other than mining purposes shall be taxed at its value for such other purposes as provided by law; and all the machinery used in mining and all property and surface improvements upon or appurtenant to mines and mining claims, which have a value separate and independent of such mines and mining claims, and the net annual proceeds of all mines and mining claims shall be taxed as other personal property. Definition of terms. Property. Real estate. DEFINITIONS. Sec. 4. Whenever the terms mentioned in this section are employed in this act, they are employed in the sense hereafter affixed to them. First. The term "property" includes includes moneys, credits, bonds, stocks, franchises and all other matters and things, real, personal and mixed, capable of private ownership; but this shall not be so construed as to authorize the taxation of the stocks of any company or corporation when the property of such company or corporation represented by such stocks, has been taxed. Second. The term "real estate" includes: 1. The possession of, claim to, ownership of, or right to, the possession of land. 2. All mines, minerals and quarries in and under the land subject to the provisions of section 3 of this act; all timber belonging to individuals or corporations, growing or being on the lands of the State or the United States and all rights and privileges appertaining thereto. 3. Improvements. Third. The term "improvements" includes: All buildings, structures, fixtures, fences and improvements, erected upon or affixed to the land, whether the title has been acquired to said lands or not. Improvements. property. Fourth. The term "personal property" includes Personal everything which is the subject of ownership not included within the meaning of the term "real estate" and "improvements." cash value. Fifth. The terms "value" and "full cash value" Value and full mean the amount at which the property would be taken in payment of a just debt due from a solvent debtor. Sixth. The term "credit" means those solvent Credit. debts, secured or unsecured, owing to a person. The term "debts" means those secured or unse- Debts. cured liabilities, owing by a person. Seventh. The term "person" as used in this act Person. shall be construed to include partnerships, corporations and associations of persons. Obligations not In making up the amount of credits which any per- Debts may be son is required to list he will be entitled to deduct credits. from the gross amount of such credits the amount of all bona fide debts owing by him, but no acknowledgment of indebtedness not founded on actual consideration, and no such acknowledgment made for the purpose of being so deducted, must be considered a debt within the intent of this section; and no person is en- to be deducted. titled to a deduction on account of an obligation of any kind given to an insurance company for the premium. of insurance, nor on account of any unpaid subscription to any institution or society, nor on account of a subscription to, or installment payable on the capital stock of any company or corporation; and no liability of any person or persons, company or corporation as surety for another must be deducted; and no other liability of any person or persons, company or corporation, on any bond or undertaking must be deducted; and no deduction must be made in any case unless the party claiming such deduction discloses to the assessor, under oath, the name or names of the persons to whom such party is indebted, and the amount of such indebtedness to each, and also that such indebtedness is not barred by the statue of limitations; or in case such indebtedness is so barred, acknowledges such indebtedness in writing, duly subscribed. Property assessed at full cash value; land and improvements separate. Bank stock. exemptions. ASSESSMENT OF PROPERTY. Sec. 5. All taxable property must be assessed at its full cash value. Land and the improvements thereon must be separately assessed. Sec. 6. The stockholders in every bank or banking association organized under the authority of this State or of the United States, must be assessed and taxed on the value of their shares of stock therein, in the county, town, city or district where such bank or banking association is located, and not elsewhere. whether such stockholders reside in such place or not. To aid the assessor in determining the value of such shares of stock, the cashier or other accounting officer of every such bank must furnish a verified statement to the assessor showing the amount and number of shares of the capital stock of each bank, the amount of its surplus or reserve fund or undivided profits, the amount of investments in real estate, which real estate must be assessed and taxed as other real estate, and the names and places of residence of its stockholders, together with the number of shares held by each. Sec. 7. In the assessment of the shares of stock Deductions and mentioned in the next preceding section each stockholder must be allowed all the deductions and exemptions allowed by law in assessing the value of other taxable personal property owned by individual citizens of this State, and the assessment and taxation must not be at a greater rate than is made or assessed upon other moneyed capital in the hands of individual citizens of this State. Same. Sec. 8. In making such assessment, there must also be deducted from the value of such shares, such sum as is in the same proportion to such value as the assessed value of the real estate of such bank or banking association in which such shares are held, bears to the whole amount of the capital stock, surplus, reserve |