Bonds of City of Guthrie, 35 Okla. 494, 130 Pac. 265; In re City of Miami, 43 Okla. 205, 141 Pac. 1174; Town of Afton v. Gill, 156 Pac. 658; Town of Walters v. Orth, 158 Pac. 352; Dunagan v. Town of Red Rock, 158 Pac. 1170.

Sinking Funds of Towns, etc.

(29) Sec. 28. Counties, townships, school districts, cities, and towns shall levy sufficient additional revenue to create a sinking fund to be used, first, for the payment of interest coupons as they fall due; second, for the payment of bonds as they fall due; third, for the payments of such parts of judgments as such municipality may, by law, be required to pay.

St. Louis & S. F. Ry. Co. v. Lindsey, 39 Okla. 439, 135 Pac. 1063. Bonds.

(30) Sec. 29. No bond or evidence of indebtedness of this State shall be valid unless the same shall have endorsed thereon a certificate, signed by the Auditor and Attorney General of the State, showing that the bond or evidence of debt is issued pursuant to law and is within the debt limit. No bond or evidence of debt of any county, or bond of any township or any other political subdivision of any county, shall be valid unless the same have endorsed thereon a certificate signed by the County Clerk, or other officer authorized by law to sign such certificate, and the County Attorney of the county, stating that said bond, or evidence of debt, is issued pursuant to law, and that said issue is within the debt limit.

System of Accounting.

(31) Sec. 30. The Legislature shall require all money collected by taxation, or by fees, fines, and public charges of every kind, to be accounted for by a system of accounting that shall be uniform for each class of accounts, State and local, which shall be prescribed and audited by authority of the State.

in twelve months prior to such election, and before any indebtedness under the provisions of section 27 of article 10 of the Constitution shall hereafter be incurred by such city or town, it shall be necessary that the same shall have received more than fifty percentum of all such qualified property taxpaying voters of such city or town. (Session Laws 1913, c. 169, p. 388.)

CHAPTER 1.

PROPERTY SUBJECT TO TAXATION.

Section 2. What property subject to taxation.
Exemptions.

Section 3.

Section 4. Real property.

Section 5.

Section 6.

Section 7.

Personal property.

Municipal occupation and license tax.
License tax on commercial fertilizer.
Section 8. Tax on commercial stock foods.
Section 9. Definition of terms.

Section 2. What Property Subject to Taxation.
(Section 7302, Revised Laws of Oklahoma, 1910.)

(32) Subdivision A. The ad valorem or direct system of taxation shall be amended as follows:

Section 1. Section 7302 of the Revised Laws of 1910 is hereby amended to read as follows:

Sec. 7302. All property in this State, whether real or personal, including the property of corporations, banks and bankers, except bonds of this State, and its counties, cities, towns, school districts and other municipalities of this State, except such as is exempt, shall be subject to taxation, but the income of said municipal bonds of this State shall be taxable under the income tax law.

History. Session Laws Oklahoma 1915, chapter 107, p. 142. Effective March 11, 1915.

In re Indian Territory Illuminating Oil Co., 43 Okla. 307, 142 Pac. 997; Cobb v. Commissioners of Seminole County, 151 Pac. 220; Territory v. Clark, 2 Okla. 82, 35 Pac. 882; Oklahoma City v. Shields, 22 Okla. 265, 100 Pac. 559; Spaulding Manufacturing Co. v. Kendall, 19 Okla. 345, 91 Pac. 1031; Keokuk v. Ulam, 4 Okla. 5, 38 Pac. 1080; Topeka Co. v. McPherson, 7 Okla. 332, 54 Pac. 489.

Section 3. Exemptions.

List of Exempt Property.

(Section 7303, Revised Laws of Oklahoma, 1910.) (33) The following property shall be exempt from taxation:

First.

All property used for free public libraries, free museums, public cemeteries.

Second. All property and mortgages on same used exclusively for religious or charitable purposes.

Third. All property of the United States, and of this State, and of counties and municipalities of this State.

Fourth. Household goods of the heads of families, tools, implements and live stock employed in the support of the family, not exceeding one hundred dollars in value, and all growing crops.

Fifth. Personal property of all ex-Union and exConfederate soldiers, and of all widows of ex-Union and ex-Confederate soldiers, who are heads of families and residents of this State, two hundred dollars in value.

Sixth. All property owned by Murrow Orphan Home, in Coal county, and all property owned by the Oklahoma State Home, located in Mayes county, so long as the same shall be used exclusively as free homes for children, and for poor and indigent persons.

Seventh. All fraternal orphan homes, and other orphan homes, together with all charitable funds.

Eighth. Such property as may be exempt by reason of treaty stipulations, existing between the Indian and the United States government, or by Federal laws, during the force and effect of such treaties or Federal laws.

Ninth. The engines and equipment of fire companies.

Tenth. All property, both real and personal, of scientific, educational and benevolent institutions, colleges or societies, devoted solely to the appropriate objects of these institutions.

Eleventh. The books, papers, furniture, scientific or other apparatus pertaining to the above institutions, and used solely for the purpose above contemplated (and the like property of students in any such institutions used for the purpose of their education).

Twelfth. All breaking and wells on lands upon which final proof has not been made.

Thirteenth. Family portraits.

Fourteenth. All food and fuel provided in kind for the use of the family not to exceed provisions for one year's time, and all grain and forage necessary to maintain for one year the live stock used in supporting the family: Provided, that no person from whom pay is received or expected for board shall be considered a member of the family within the intent and meaning of this chapter.

Fifteenth. All pensions from the United States or from any of the states until paid into the hands of the pensioners.

Sixteenth. Polls of all active members in good standing, not to exceed thirty in number, of any regulargly organized fire company in cities and towns of more than one thousand inhabitants, and not exceeding fifteen in towns and villages of less than one thousand inhabitants: Provided, that such fire company actually and in good faith, possesses at least five hundred dollars worth of apparatus, to be determined by the assessor.

Seventeenth. The shares issued by a building and loan association and loaning its funds to members within this State, and the notes and mortgages of building and loan associations doing business in this State under the laws of this State and which are given by the members of such association upon real estate located in the State and which real estate is subject to taxation under the laws of the State.

History. L. 1909, p. 572.

Thacker v. Witt, 166 Pac. 713; Gleason v. Wood, 28 Okla. 502, 114 Pac. 703 (reversed, 224 U. S. 679, 56 L. Ed. 947); McGannon v. State ex rel. Trapp, 33 Okla. 145, 124 Pac. 1063; Choat V. Trapp, 224 U. S. 665; Cornelius v. State ex rel. Cruce, 40 Okla. 733, 140 Pac. 1187; Kidd v. Roberts, 43 Okla. 603, 143 Pac. 862; In re Benedictine Fathers of Sacred Heart Mission, 45 Okla. 358, 145 Pac. 494; In re Assessment of First National Bank of Chickasha, 160 Pac. 469; Richardson v. English, 224 U. S. 680, 56 L. Ed. 949; Blackwell v. Harts, 167 Pac. 325; Watkins v. Howard, 166 Pac. 706; Hutchison v. Brown, 167 Pac. 625; Board of County Commissioners of Muskogee County v. Fink, 159 Pac. 470 (this case is pending on appeal in the United States Supreme Court); Schock v. Sweet, 145 Pac. 388; Rider v. Helms, 150 Pac. 154; Rogers v. Herndon, 154 Pac. 1185; Allen v. Trimmer, 144 Pac. 795.

Notes and Mortgages of Building

and Loan Associations.

(Section 1319, Revised Laws of Oklahoma, 1910.)

(34) The real estate, furniture, fixtures and all personal property, except as otherwise provided, of mutual building and loan associations, organized and doing business in this State, shall be subject to taxation in the same. manner and to the same extent as other like property. The notes and mortgages of building and loan associations chartered, organized and doing business in this State under the laws of this State and which are given. by the members of such association upon real estate located in the State and which real estate is subject to taxation under the laws of the State, and the shares issued by a building and loan association loaning its funds to members within this State, shall not be subject to taxation.

History. L. 1899, p. 101; effective February 24, 1899. .

Exemption from Municipal Taxation.

(Section 431, Revised Laws of Oklahoma, 1910.)

(35) Any incorporated city or town in the State of Oklahoma may, by a majority vote of its electors, exempt from municipal taxation, for a period not to exceed five years, new manufacturing establishments and public utilities hereafter locating in such city or town.

History. L. 1907-8, p. 79; effective August 24, 1908.

Animal Exemption.

(36) All game animals, including deer, buffalo, elk, and antelope, which are kept in private grounds or public parks in this State for propagation or exhibition, are hereby exempted from taxation by the State of Oklahoma, or any taxing authority therein.

History. Session Laws Okla. 1917, chap. 41, sec. 1, p. 88; effective March 23, 1917. Cotton Used in Cotton

Manufactures Non-Taxable.

(37) All property, both real and personal, used exclusively for the manufacture of cotton, or carding, splinting, or weaving in cloth, or other manufactured product, and all moneys invested or loaned and used in or for the operation or carrying on of such business, is