Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1904-09-01
PROPOSED AMENDMENT TO The CON
sTITUTEON OF The STATE OF
SOUTH DAKOTA.


10 the PEG Die or the s;ase Sor.h Dahot4:
TneI .asl Le. ID ore OF ? o.,-e o Sotth
Dsgosa, 2 ne e sion & co bespn aac ii. i"
at Pfe1te, ,le ia, on ia u.ry 6,h, A. d.
1908, and concluded on March 9Th, A. d. 1903,
proposed the following aa,ep gent TO The con
stitution Of the state, viz:
"A Joint esolutio processing and agreeing
to an amendut at to Section II Of Article OF
the constitution OF the S.a.e OF South DdEota
and submitting such amendment 10 a vote OF the
people.
Be it Resolved by the House of Representatives
of the Lee. Stature OF the Ste of South Dako-
ia, the Senate concur ne:
81. That section IL OF Article OF the Consti-
tuition o. the State of SCUM Dakota be amend
ed so as 10 read as follows
Sill The moneys oftue permanent school and
other educatio0a funds sha be 1--we ted on in
first nor, .a.es upon good d proved farm Ia ,os
within the ta.e, . here aa.ter PROVO ., o, n
bonds o scnoo orpo. lions VITA thia stot .,
or a Don, OF ,ne United ties or of Inc Sac
OF South Dakota or 0. any orgon Zed ou1sg.
towasnp or io4o porated city in sad e.
The legislature sh.-l prov oe by law the method
OF determining the amounts OF said funds which
es OF securities respective y, taking Ute to Sc
cure com nuoJs lave stmpnts a FAR as poss ~.
All moneys o, said funds viii may ON Tlme
to time De designated Tor investment in farm
mortgage and in tne bo1os of 5. dool CORPORA
tons or IA bono OF organz@u counties, town.
ships or Incorporated cities w4El a tbs state,
shall for such purpose be divided anodg the or
ganized COZ 0tes Of Tue state in pfooo on to
4 n, n al IVY to p
cure continuous Investment m8g p o. The
eVeraI counttes shalt hold aud M o.. e the
same as trust funds, ID they lG De ald re-
mia responsible AID 4 coun,as soc tle p D.
cip.I and ntc-est OF al such moneys received
by them from sne doOe of rece pit UNI reuu ned
be-. u g not loaneu aid in ca-e OF loss g ( nv
money 30 POO, Toned to any county, 81 Il oun-
ty sn il Nose he same good out Ct It's con nol
revenue. COUn,le sh> Il lvest sad money ia
bonds OF school corporations, couo, es, town.
ship Ca cities, Or in FIST morES@ ges UpOn gOoa
imp owed Ia I'M Ia ads within Their lin Is re, DeCS
iyev The amount OF each loUn sn y not e.
coed one-thirG oRthe actual value OF the LAOS
covered 10y the me 5dge given to secure me
same, such value TO be determined by The boz I'd
of county commissioners Of the OuDlyin which
the ana is : ytu,n d and ia no c. e snGl more
LIId I'VE bUDUsl NJ RSJVJ AOt4.1S DS M NV NJ
any o. person, ngn or ccrpor4.ion ana the rate
Of interest sba tnnE be les tnGn FIVE per cent.
per annum ana shall be such o,ler and n. Ell
raae rs the laz l-iasc ? may PROVIDE nd IAl be
PAYABLE semi-agnu&lv Oh the fist d.V OF An
ua y and Jp.s; pgov,Gcd, Thar whontY~r there
are moaes Of saIGGuld in2ny oulty anllnt-
ing to one t1oesan 100 lars that cannot be ta& ed
g cotd ng TO the provisions OF 5 $ On 20
auy Inv paIsu nG the ,eto, the said 81 NAV ne
retC' aea 10 the STATE tteasur-r 10 DE eay. ust
to some otIer coun.y or oulte8, OF re W sc
invested lder the provisions of tins sc on.
Eacu opa, shalt ZEN -s-anua'ly, on the first
day OF ia lualy and July, render au cunt OF
tue conc TO Of the funds iGtrus ed % 1t to Lle
auditor of stale, and at the sd ne time pay lC
or account 10 the state teasurer for ne t1ter
est due on all junds inuns ed TO it.
I1e leg stature may provide 10y general law
thai cou Vi eS NAV reta n from interest collie TED
in excess of five Der m per anuum upon all
Said funds Entrusted to tlem, not 10 exceed one
per centum per annum. But no col aty suaA be
exempted / ON the obljguG.ou to make SEM an
nual payments TO the stale t1",surer O. i1te Isl
a. the rate provo d by law for such loans, e.
cept only SAID one Der ce Atpm, and in no case
shall the interest so to be paid be less t1an five
per centum per annum.
The legislature sh,I prov de BY law To- the
SAFE inves, mebt Of The pc. manenE school aad
other educational funds and for the promn
collection of interest and income Thereof. nd L
ca ny OUT ne objects and proyis ons OF tins sec
ton.
50. That the foregoing propo ed amendmen
is hereby agreed 20 and is hereby submitted t
a vote OF tue electors OF the state aG the mex
general election, .or their approyoI,'
The above proposed amen0ment will be V0tet
upon by the people at tire general election 10 bt
held in this state on Tuesday, tue Sth Day OF No
vember, A. d. 1867.
The proposed amendment viii be p inted upol
the ballot followed by the words:
shall the above amendment to lne consvltu
ton in relation to tue investment OF Schoo. ant
other Educational funds De approved and rat
fied?'
Immediately 10 the left of which Shall b
printed the words Eyes and No" each preceC
ed by square in which the eector can pace
cross to indicate his yoIe. Electors GesAlDg
vote yes will place a cross before tue WOE
"Yes' and those desiring to yose No" Wi
place cross before the word Me-
Dated at Pierre, the capital this Sth day {
August, A, ID. 1904.
0. c. BEHG,
Secretary of SITE.