ARTICLE 15
TAXATION AND REVENUE
Sec. 1. Assessment of lands and improvements thereon. All lands and improvements thereon shall be listed for assessment, valued for taxation and assessed separately.
Sec. 2. Assessment of coal lands. All coal lands in the state from which coal is not being mined shall be listed for assessment, valued for taxation and assessed according to value.
Sec. 3. Taxation of mines and mining claims. All mines and mining claims from which gold, silver and other precious metals, soda, saline, coal, mineral oil or other valuable deposit, is or may be produced shall be taxed in addition to the surface improvements, and in lieu of taxes on the lands, on the gross product thereof, as may be prescribed by law; provided, that the product of all mines shall be taxed in proportion to the value thereof.
Sec. 4. State levy limited. For state revenue, there shall be levied annually a tax not to exceed four mills on the dollar of the assessed valuation of the property in the state except for the support of state educational and charitable institutions, the payment of the state debt and the interest thereon.
Sec. 5. County levies limited. For county revenue, there shall be levied annually a tax not to exceed twelve mills on the dollar for all purposes including general school tax, exclusive of state revenue, except for the payment of its public debt and the interest thereon.
This section was amended by a resolution adopted by the 1967 legislature, ratified by a vote of the people at the general election held on November 6, 1968, and proclaimed in effect on December 9, 1968.
Sec. 6. City levies limited. No incorporated city or town shall levy a tax to exceed eight mills on the dollar in any one year, except for the payment of its public debt and the interest thereon.
Sec. 7. Depositories for public moneys. All money belonging to the state or to any county, city, town, village or other subdivision therein, except as herein otherwise provided, shall, whenever practicable, be deposited in a national bank or banks or in a bank or banks incorporated under the laws of this state; provided, that the bank or banks in which
