[Rev. 8/25/2020 1:10:38 PM]
κ1907 Statutes of Nevada, Page 441κ
RESOLUTIONS AND MEMORIALS.
________
No. IAssembly Joint and Concurrent Resolution, relative to mineral lands within the Central Pacific Railway grant.
[Passed February 19, 1907.]
Whereas, The Central Pacific Railway Company is the owner, under grant from the United States, of every odd section of land within a strip twenty miles wide on each side of the line of the Central Pacific Railway across the State of Nevada-an area of land in excess of eight thousand square miles; and Whereas, The grant of this said vast tract of land expressly reserved all minerals therein excepting coal and iron, thus evidencing the fact that it was never the intention of the United States to convey to the said railway company any mineral lands, excepting lands containing coal and iron; and Whereas, Regardless of the fact that mineral lands were never granted by the United States to the said railway company, lands of great mineral value and of little or no other value, have been patented to said railway company, by virtue of said grant; and Whereas, It is almost impossible to determine whether a section or region of land is, or is not, mineral until it has been thoroughly prospected and explored; and Whereas, Such prospecting and exploration has never been attempted by the said railway company before securing patent; and Whereas, It is well known that instances have occurred where land was patented to said railway company which was previously known to be mineral or thereafter discovered to be such; and Whereas, It would be of great benefit to the State of Nevada if all the said lands belonging to the Central Pacific Railway Company were open to prospecting and development for mining purposes, with privilege to the discoverer of valuable minerals to obtain title to the lands embracing the same, upon the same liberal terms granted by the United States; and Whereas, By both legislative enactment and judicial decree, mining has been declared to be the paramount industry of the State of Nevada and a public use; and Whereas, The State of Nevada, for the purpose of promoting the general welfare of the State, has, by legislative enactment, relinquished its claim to all minerals to be found in lands granted by the United States to the State of Nevada; and,
|
Central Pacific Railway grant.
Mining our chief industry. |
κ1907 Statutes of Nevada, Page 442 (NUMBER 1)κ
Opening of lands advantageous to all
C. P. R. R. requested to throw open lands to prospectors.
Governor requested to forward resolution to C. P. R. R. officers. |
moting the general welfare of the State, has, by legislative enactment, relinquished its claim to all minerals to be found in lands granted by the United States to the State of Nevada; and, Whereas, It is the belief of the people of the State of Nevada, voiced through their representatives in Senate and Assembly, that the opening of such lands to the prospector and miner would be of no disadvantage whatever to the said railway company, but, upon the contrary, would be of vast benefit, for it would not only afford opportunities for the sale of land that would otherwise be practically valueless, but it would be the means of opening up new mines and mining camps and this increasing immensely the traffic of railway lines; therefore, be it Resolved by the Assembly, the Senate concurring, That a request be, and the same hereby is, made to the Central Pacific Railway Company, and all other persons and corporations, if any, interested in the lands in question, for that company and all persons interested therein to cause the said lands to be thrown open to prospectors and explorers for valuable minerals, other than coal or iron, and that said Central Pacific Railway Company offer to sell and sell to the discoverer of any land valuable for mineral purposes such land at the same rate that mineral land is sold by the United States, or at some such figure as will be just, both to the railway company and the miner. Resolved, That his Excellency, the Governor, be, and he hereby is, requested to forward a copy of this resolution to the President and to each of the Directors of the Central Pacific Railway Company, and also to the President and each of the Directors of the Southern Pacific Company, and to such other persons as in his judgment will be advantageous. |
________
Alaska-Yukon-Pacific Exposition in 1909. |
No. II.Senate Concurrent Resolution, relating to the Alaska-Yukon-Pacific Exposition.
[Passed February 26, 1907.]
Whereas, Our great and energetic sister State of Washington has commenced making preparations for an exposition named the Alaska-Yukon-Pacific Exposition, and which will be held during the summer of 1909, and the City of Seattle, United States of America, on Puget Sound. Whereas, The Alaska-Yukon-Pacific Exposition Board and the people of the State of Washington have sent a special commissioner to the State of Nevada to make the plan and scope of the exposition plain, and also to officially invite and interest the people of Nevada, and asking them to make an exhibit of their magnificent resources, and generally participate in this exposition. |
κ1907 Statutes of Nevada, Page 443 (NUMBER 2)κ
Whereas, The said exposition will be international in plan and scope, a worlds fair in every sense. The primary purpose to be accomplished is the successful exploration of the Alaska-Yukon and the Pacific Coast States. It will bring the far divided sections of the country closer together commercially. This accomplishment will be worth many times the $10,000,000, which the exposition will have cost on an opening day. Different again from previous fairs, the Alaska-Yukon-Pacific Exposition will not celebrate any particular event. The awakening of the pacific, the wonderful achievement in all lines of effort of the countries in and bordering thereon, and the important role the commerce of the great ocean plays in that of the world, are the most noteworthy things. Participation will be invited from Australia, Canada, Ceylon, Chili, Columbia, Costa Rica, Ecuador, Formosa, French East Indies, German Colonies, Guatemala, Honduras, British India, Japan, Mexico, Dutch East Indies, Nicaragua, New Zealand, Panama, Peru, Philippine Islands, Straits Settlements, Siam and Salvador. In addition to the foregoing the United States, Great Britain, France, Germany, Russia and the Netherlands will be invited to make exhibits. Resolved, By the people of the State of Nevada, through her representatives in the Twenty-third Legislature, that we most heartily applaud the enterprise and enthusiasm of the people of the State of Washington; and that we of Nevada appreciate and reciprocate the desire of the people of our sister State in asking for Nevadas participation, and to the end that our State will be fully represented, we favor, and will endeavor in all legitimate ways to give the fullest exhibit of Nevadas resources at this Exposition, and we endorse the aims and purposes of the Alaska-Yukon-Pacific Exposition, and we most heartily recommend the participation of the United States Government. Resolved, That certified copies of this resolution be sent to the President of the United States Senate, the Speaker of the House of Representatives, our Senators and Representative in Congress. |
Exposition to be magnificent in scope.
Exposition commended.
Resolution to be forwarded to Congress. |
________
No. III.Senate Memorial and Joint Resolution to Congress, relative to reequipping and reopening to coinage the United States Mint at Carson City, Nevada.
[Passed February 27, 1907.]
To the Senate and House of Representatives, in Congress assembled:
Your memorialists, the Legislature of the State of Nevada, respectfully show that one of the great industries by which the people of Nevada live is mining for gold and silver. Whatever, therefore, burdens, discourages or imposes restraints upon the production of the precious metals, retards or delays the conversion of same into the coins authorized by the General Government, works a hardship hurtful to our miners and detrimental to the bringing of foreign capital for investment in our mining enterprises. |
Mining one of Nevadas great industries. |
κ1907 Statutes of Nevada, Page 444 (NUMBER 3)κ
Carson Mint most convenient for miners.
Rich discoveries.
New railroads.
Carson Mint should be reopened. |
the conversion of same into the coins authorized by the General Government, works a hardship hurtful to our miners and detrimental to the bringing of foreign capital for investment in our mining enterprises. The mineral resources of the State are vast, almost beyond belief. No region of the earth excels Nevada in richness and extent. The bullion output of the region to be accommodated by the Carson Mint not only embraces a greater area than any mineral belt or mineral deposit surrounding any of the United States Mints, while the country naturally tributary to this Mint establishes its location as a most favorable point beneficial to the producers of the precious metals. The famous Comstock Lode, situated but a few miles from this Mint, and which, during the dark days of the Rebellion, furnished the gold and silver warranting the redemption of the paper currency forced into circulation to meet the great emergency facing the life of the Nation, continues to yield her precious treasures in bounteous quantities, later to pass by the doors of this Mint to the San Francisco Mint, to other mints thousands of miles distant, or to private assay offices and smelting works. The same can be said of every ounce of bullion produced in this State. The rich mineral discoveries commencing in 1900 in the southwestern portion of the State, embracing the Tonopah, Goldfield, Manhattan, Bullfrog, Greenwater, Ramsey, Wonder, Fairview, Seven Troughs, Searchlight, Rosebud, Transvaal, Round Mountain, Rabbit Foot, Blue Light and Buckskin Districts, with equally rich deposits now being developed in that vicinity, undisputably assures the future production of mineral wealth equal to that at any period in the history of the State. The large ore deposits in these new mineral fields, excelling in richness and extent all late mineral discoveries throughout the inhabited world, are to-day attracting prospectors, miners and capitalists seeking possessions and investments unequaled in the search for hidden treasure. Railroads to meet the needs which other transportation facilities cannot accommodate are being rushed to completion, while the increased population everywhere denotes an upward tendency in mining the precious metals. Other industries are going forward in keeping with the impetus given to mining. The bullion output of these districts also passes the very doors of the Carson Mint, denying to the producer that just recognition and speedy return for his toil and energies. Your memorialists are informed the Carson Mint has been dismantled to some extent in the transference of certain portions of its machinery to other mints, but that a moderate appropriation would restore it to its original coining capacity. With this accomplished, and the enactment of requisite laws and regulations for reopening same to coinage, our citizens would again be the recipients of benefits the General Government a few years ago accorded them; therefore, be it
|
κ1907 Statutes of Nevada, Page 445 (NUMBER 3)κ
would again be the recipients of benefits the General Government a few years ago accorded them; therefore, be it Resolved by the Senate, the Assembly concurring, That our Senators and Representative in Congress be instructed to use all honorable means in their power toward reequipping and reopening to coinage the United States Mint at Carson City; and be it further Resolved, That the Governor be requested to transmit a duly authenticated copy of this Memorial and Joint Resolution to President Roosevelt, to each of our United States Senators, and to our Representative in Congress. |
Senators and Representative asked to urge reopening.
Governor to transmit. |
________
No. IV.Assembly Concurrent Resolution, relating to the election of United States Senators by direct popular vote.
[Passed March 6, 1907.]
Whereas, The people of this State, as shown by a vote taken thereon, favor an amendment to the Constitution of the United States providing for the election of United States Senators by direct popular vote; and Whereas, It is evident that a large majority of the American people favor such amendment, as shown by the tone of the public press and by the resolutions of the State Legislatures of the various States, and the resolutions passed by the National House of Representatives; and Whereas, Article V of the Constitution of the United States provides that Congress, on the application of the Legislatures of two-thirds of the several States, shall call a a convention for proposing amendments thereto; Resolved, therefore, the Assembly and Senate concurring, That the Legislature of the State of Nevada favors the adoption of an amendment to the Constitution which shall provide for the election of United States Senators by popular vote, and respectfully requests that a convention be called for the purpose of proposing an amendment to the Constitution of the United States, as provided for in Article V of said Constitution, which amendment shall provide for a change in the present method of electing United States Senators so that they can be chosen in each State by a direct vote of the people. Resolved, That a copy of this resolution and application to Congress for the calling of a convention, be sent to the President of the United States Senate, the Speaker of the House of Representatives, and to each of the representatives of the State of Nevada in the Congress of the United States. Resolved, That our Representative in Congress be directed to urge upon Congress the calling of a convention provided for by these resolutions. |
Election of U.S. Senator by direct popular vote.
People favor constitutional amendment.
Favoring adoption of amendment to elect Senators by popular vote.
To be transmitted. |
________
κ1907 Statutes of Nevada, Page 446κ
Terminal points in Nevada urgently requested.
Congressional delegation requested to assist.
Secretary of Senate to transmit resolution to Interstate Commerce Commission, to Senators and Congressman |
No. V.Senate Concurrent Resolution, concerning the establishment and maintenance of railroad terminal points in the State of Nevada.
[Passed March 6, 1907.]
Whereas, The prompt establishment and continued maintenance of an intermediate terminal point in the State of Nevada by each of the interstate railroads traversing said State and to and from which all freight and passenger rates will be scheduled upon a mileage basis of actual service rendered by such railroad, appears just and necessary for harmonious relations between the people of the State and such railroads; therefore, be it Resolved by the Senate, the Assembly concurring, That we urge the prompt establishment and maintenance of such terminal points as a matter of common justice, at the same time pledging our earnest efforts to secure them by the use of all reasonable means within our power, and also requesting our Senators and Representative in Congress to diligently assist us in such endeavors by the interposition of all honorable instrumentalities within their scope of authority. Be it further resolved by the Senate, the Assembly concurring, That the Secretary of the Senate, and he is hereby ordered so to do, immediately upon the approval of this resolution, transmit forthwith a copy hereof to the Interstate Commerce Commission and to each of our Senators and Representative in Congress. |
________
Vote of thanks to people of Goldfield and Tonopah for courtesies extended to Legislature |
No. VI.Assembly Joint and Concurrent Resolution, relative to the visit of the Legislature to the gold camps of Southern Nevada.
[Passed March 12, 1907.]
Whereas, Pursuant to an invitation extended by the citizens and people of Goldfield and Tonopah, this Legislature did adjourn on Thursday, the 7th day of February, 1907, and did accept such invitation by visit to the Town of Goldfield and Town of Tonopah; and Whereas, The hospitality of the above-named towns and the citizens and people of all Southern Nevada was demonstrated to its fullest extent, and the true hospitality of western life was depicted in every detail; therefore, be it Resolved, That this Legislature, and the Assembly and Senate of that body, in its Twenty-third Session convened, do express to the people of Southern Nevada our true gratitude for their efforts and invitation; and be it further Resolved, That a copy of this resolution shall be spread upon the pages of the Journal of the Assembly and the Senate. |
________
κ1907 Statutes of Nevada, Page 447κ
No. VII.Assembly Joint and Concurrent Resolution, relative to the overflow of the Colorado River.
[Passed March 15, 1907.]
Whereas, By the overflow of the Colorado River there is being created, in southeastern California, a large inland sea, known as the Salton Sea; and Whereas, The evaporation from said sea has already materially increased the rainfall over a vast area of arid lands in the southwest, and by its enlargement promises to still further increase such rainfall; and Whereas, The Federal Government is endeavoring to divert the flow of said Colorado River back to its former channel; therefore be it Resolved by this Assembly, the Senate concurring, That President Roosevelt and the Congress of the United States be memorialized to desist from any further attempts to check the flow of the Colorado River into the said Salton Sea; and be it Resolved, further, That copies of this memorial be sent to Senators Newlands and Nixon and to Representative Bartlett, for presentation to the President and Congress. |
Regarding Salton Sea. |
________
No. VIII.Assembly Joint and Concurrent Resolution.
[Passed March 20, 1907.]
Whereas, There is a widespread and rapidly growing belief that the Constitution of the United States should be so amended as to provide for the election of the United States Senators by the direct vote of the people of the respective States; and Whereas, Other amendments to the United States Constitution are by many intelligent persons considered desirable and necessary; and Whereas, The Senate of the United States has so far neglected to take any action whatever upon the matter of changing the manner of electing United States Senators, although favorable action upon such proposed change has several times been unanimously taken by the House of Representatives; therefore, be it Resolved, by the House of Representatives of the State of Nevada, the Senate concurring therein, That the Legislature of Nevada in accordance with the provisions of Article V of the Constitution of the United States hereby apply to and request the Congress of the United States to call a convention for the purpose of proposing amendments to the Constitution of the United States; and Resolved, That we hereby request our Representative in Congress and instruct our United States Senators to bring this matter to the attention of their respective bodies and to try and induce favorable action thereon; and
|
Amendment of U. S. Constitution.
Congress asked to call Constitutional Convention. |
κ1907 Statutes of Nevada, Page 448 (NUMBER 8)κ
Secretary of State to forward resolution. |
this matter to the attention of their respective bodies and to try and induce favorable action thereon; and Resolved, further, That the Secretary of the State of Nevada is hereby directed to forthwith transmit a certified copy of these resolutions to the Vice-President of the United States, the Speaker of the House of Representatives in Congress, and to each of the Representatives and United States Senators in Congress from Nevada, and to the Speaker of the House of Representatives in each State in which the Legislature is now or soon to be in session. |
________
Additional money for Porters of Senate and Assembly.
Controller to draw warrants. |
No. IX.Assembly Concurrent Resolution.
[Passed March 29, 1907.]
Resolved by the Assembly, the Senate concurring, That the Sergeant-at-Arms of the Assembly be instructed to draw his warrant on the State Controller, on the Legislative Fund of the Twenty-third Session of the Nevada Legislature, in favor of J. T. Savage, Porter of the Assembly, for the sum of fifty dollars for extra labor performed at the late hours of the night, and in raising and lowering the flag on the Capitol Building, and in cleaning and putting in order the Legislative Chambers after the adjournment of said Twenty-third Session, and also that the Sergeant-at-Arms of the Senate be instructed to draw his warrant on the State Controller on the same fund, for the sum of fifty dollars in favor of Al Holman, Porter of the Senate, for extra labor performed at late hours of the night, and in assisting in raising and lowering the flag on the Capitol Building, and in assisting in cleaning and putting in order the Legislative Chambers. Resolved, That the State Controller shall draw the warrants named in the preceding resolution only upon the certificate of the Secretary of State that the Legislative Chambers have been cleaned and put in order as heretofore cleaned and put in order. |
________
Congress asked to grant additional land to Nevada, |
No. X.Concurrent Resolution, relative to an additional grant of upland or grazing lands from the Government of the United States to the State of Nevada, for the benefit of the Irreducible School Fund of the State.
[Passed March 29, 1907.]
Whereas, There is now in the State of Nevada about twenty-five million acres of unappropriated Government plateau lands, suitable only for grazing purposes; and Whereas, The State of Nevada relinquished its rights to nearly two million acres of land when it accepted the Two-Million-Acre Grant in lieu of the sixteenth and thirty-sixth sections; and |
κ1907 Statutes of Nevada, Page 449 (NUMBER 10)κ
Whereas, As suggested in the message of His Excellency, Governor Sparks, to this Legislature, that it would only be strict justice to the State of Nevada for Congress to grant to the State of Nevada for the benefit of the Irreducible School Fund at least two million acres of the aforesaid plateau land in lieu of the lands heretofore relinquished by the State of Nevada to the Government of the United States; therefore Resolved by the Assembly, the Senate concurring, That the representatives in Congress from the State of Nevada be and are hereby requested to use their most active and energetic efforts to have such a grant made to the State of Nevada. Resolved, That His Excellency the Governor be requested to forward a copy of the foregoing preamble and resolution to the President of the Senate and to the Speaker of the House of Representatives and to our Senators and Representative in Congress. |
Governor requested to forward resolution. |
________
No. XI.Assembly Concurrent Resolution, concerning development work on mining claims, and on land containing minerals.
[Passed March 29, 1907.]
Resolved by the Assembly of the State of Nevada, the Senate concurring:
That the Congress of the United States be requested to open all unimproved, unfenced lands held under patents to development by miners, such miners to pay for actual damage done by them to and upon such lands. That the Congress of the United States be and is hereby requested to more clearly define the powers of the various States to enact legislation concerning the location of mining claims, preliminary or location work, development work, and forfeiture resulting from failure to do such work. That the Congress of the United States be and is hereby requested to enact legislation of a nature to encourage actual development of mining lands, and to discourage the holding of such lands merely in the hope of sale; to place some limit on the number of claims one locator may hold, making it not to exceed five on one lode or vein, or in one mining district; and to make it obligatory that all patented mining claims shall be made subject to a certain amount of development work after issuance of the patent, or that forfeiture to the Government of the United States shall ensue in any case where a patented claim has been left undeveloped for a period of three or five years. That a copy of this resolution be sent by the Secretary of State of Nevada to the Secretary of the Interior, to each United States Senator, and to each Representative in Congress from the mining States, and to each Delegate in Congress from each mining Territory, and to the officers of the Congress of the United States. |
Congress asked to open unimproved lands to prospectors.
Secretary of State to forward resolution. |
κ1907 Statutes of Nevada, Page 450 (NUMBER 11)κ
|
That the Senators and Representatives in Congress from the State of Nevada be and are hereby requested to prepare, introduce and urge the legislation recommended by this resolution at the earliest possible time. |
________
Amending Constitution as regards disposition of poll tax. |
No. XII.Assembly Concurrent Resolution, relative to amending Section 7 of Article II of the Constitution of the State of Nevada pertaining to the disbursement of the poll tax.
[Passed March 29, 1907.]
Resolved by the Assembly, the Senate concurring, That the Constitution of the State of Nevada be amended so as to read as follows: Amend Section 7, Article II, of the Constitution of Nevada, so that the same shall read as follows: Section 7. The Legislature shall provide by law for the payment of an annual poll tax of not less than two nor exceeding four dollars from each male resident in the State between the ages of twenty-one and sixty years (uncivilized American Indians excepted), to be expended for the maintenance and betterment of the public roads. |
________
Thanking Mackay family for gifts to University of Nevada. |
No. XIII.Assembly Joint Concurrent Resolution, relative to a gift to the State of Nevada by Mrs. John W. Mackay, Clarence H. Mackay and wife.
[Passed March 29, 1907.]
Whereas, Clarence H. Mackay and wife of the City of New York, and Mrs. John W. Mackay of London, England, have generously denoted to the State of Nevada a new building for the School of Mines of the University of Nevada, accompanied by a life-sized bronze statue of the late John W. Mackay, who in his lifetime was one of Nevadas most distinguished citizens, a man of tireless energy, generous heart and honest life; therefore, be it Resolved by the Assembly, the Senate concurring, That the thanks of the people of the State of Nevada are hereby extended to Clarence H. Mackay and wife and Mrs. John W. Mackay, for their noble gift to the cause of educating the young men of Nevada in the science of mining, the States paramount industry; be it further Resolved, That in the selection of Gutzon Borglum, the most distinguished sculptor of America, for the performance of the work, they have paid a deserved tribute to a native son of the Sagebrush State; be it further Resolved, That the day on which the cornerstone of the School of Mines is laid and on the day the statue is unveiled be declared a public holiday, and that Clarence H. Mackay, family and friends be declared the guests of the State; and be it further
|
κ1907 Statutes of Nevada, Page 451 (NUMBER 13)κ
family and friends be declared the guests of the State; and be it further Resolved, That the acceptance of the statue by the Governor be endorsed by the Legislature. |
|
________
No. XIV.Senate Joint and Concurrent Resolution, relative to the annexation of the Counties of Inyo, Mono, Alpine, Lassen and Modoc of California, to Nevada.
[Passed March 29, 1907.]
Whereas, From all information obtainable, the people of that portion of territory lying east of the summit of the Sierra Nevada range of mountains, and known as Inyo, Mono, Alpine, Lassen, and Modoc Counties, State of California, have made known their desires to become annexed to the State of Nevada, for the following reasons, to wit: First-Their isolation from the business center and seat of government of the State of California; Second-The lack of recognition and representation both in State and National government; Third-That the laws made to apply to the western slope of the Sierra Nevada Mountains do not grant relief or apply to, but actually retard, the industries and other interests of these sections; Fourth-That the people of said section are bound to Nevada by the ties of consanguinity, geographically, socially, and politically, and that their interests are identical and one with those of the people of Nevada; Fifth-That with their secession to the State of Nevada, they would not only be granted political representation, but their interests which are identical with those of Nevada would be greatly benefited, causing their people the prosperity and happiness to which they are justly entitled; therefore, be it Resolved, the Assembly concurring herein, That the Senate and Assembly of the State of California be requested to enact such a measure as will give to the people of said territory above mentioned the right to vote for or against the secession of the said territory to the State of Nevada, and upon it receiving a majority vote in favor of secession by the people, and after its ratification by the Senate and Assembly of the two respective States, its final ratification by the Congress of the United States, the same shall become territory of the State of Nevada, subject to and amenable to the laws of the State of Nevada, having all the rights and representation granted to all other counties of the State of Nevada; and be it further Resolved, That a copy of this resolution be sent to the Governor and Legislature of the State of California, to the United States Senators and the Congressman of this State. |
Annexation to Nevada of portion of California.
California Legislature requested to give people concerned opportunity to express opinion. |
________
κ1907 Statutes of Nevada, Page 452κ
Amending Sec. 1, Art. X of State Constitution. |
No. XV.Senate Concurrent Resolution, relative to amending Section 1 of Article X of the Constitution of the State of Nevada.
[Passed March 29, 1907.]
Resolved by the Senate, the Assembly concurring, That the Constitution of the State of Nevada be amended as follows: Section 1. The Legislature shall provide by law for a uniform and equal rate of assessment and taxation, and shall prescribe such regulations as shall secure a just valuation for taxation of all property, real, personal and possessory, excepting mines and mining claims, when not patented, the proceeds alone of which shall be assessed and taxed, and when patented, each patented mine shall be assessed at not less than five hundred dollars ($500), except when one hundred dollars ($100) in labor has been actually performed on such patented mine during the year, in addition to the tax upon the net proceeds, and, also, excepting such property as may be exempted by law for municipal, religious, educational, literary, scientific, or other charitable purposes; provided, further, that a mortgage, deed of trust, contract or other obligation by which a debt is secured, shall, for the purposes of assessment and taxation, be deemed and treated as an interest in the property affected thereby, and when such security is taxed the property affected by such security shall be considered reduced in value proportionately to the assessed value of the security. |
________