The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1913-02-10

It's passage Address all commune
mittee, Miss Elizabeth Graves, 1905
A bill for an act authorizing the
giving Of annuities to disabled and re-
tired public school teachers Of all
rural and urban public schools, Great
ing fund from which to pay such
annuities and providing for the dis
tribution thereof, creating a board OF
trustees to care for such annuity fund
and prescribing their powers and
duties, and authorizing the retiring
from service of public school teachers
under certain conditions.
Be it enacted by the general as
sembly OF the state of Iowa:
Section L The board of educational
examiners shall be the board of trus-
tees of the teachers annuity fund
herein created. They shall annually,
at the proper time, certify to the state
executive council the amount of tax,
not exceeding one-half of mill on
the dollar, necessary to meet the re-
quirements of the fund; and the state
executive council shall levy such tax
rpon all the taxable property within
the state at the time, and In the man
ner, OF the levy of other state taxes.
All moneys derived from taxes SO
levied and all moneys received as
dues as hereinafter provided and all
moneys received from Grants, dona-
tions and devises for the benefit of
such fund shall constitute a fund to be
known and designated as the teachers
annuity fund. which said fund shall be
under control of the board of trustees,
and shall be devoted exclusively to
and for the purposes herein enumer-
ated. The fund shall be state fund
The state treasurer shall be the Gus
todian of the fund, and shall disburse
the same upon orders from the board
of trustees
Section 2. The teachers annuity
fund shall be kept and preserved as a
separate fund The board of trustees
shall have the power to invest any
surplus left in the fund at the end of
the fiscal year. either for the creation
of a permanent fund or for temporary
investment, but no part OF the fund
realized from any tax levy or from
dues shall be used for any purposes
other than the payment of annuities.
Tor the creation OF permanent fund
for annuities. Investments shall be
limited to interest bearing bonds OF
the United States, of the state of
Iowa, or OF any country, township, or
municipal corporation of the state OF
Iowa. All such certifc ties or securi-
tiles shall be deposited with the state
/ treasurer
| Section 5. The board of trustees
may take by gift, grant, devise or be-
quest, any money or property real or
personal, or other thing of value for
the benefit of the teachers annuity
fund, and such gift, grant, devise or
bequest shall be invested and held as
permanent fund unless otherwise
1 specified by the grantor, and the inter-
est or income from such investment
| shall be added to the general annuity
! fund for the payment of annuities.
| Section The required term of
service to entitle teacher to share
in the benefits of the annuity fund
shall be twenty-five years, eighteen
years of which service shall have been
spent in the state of Iowa The re-
naming seven years of the twenty
! five may have been spent in any other
Ischcol or schools other than the state
public schools of Iowa-either priv.
ate Or public-in this state or any 9th.
Ter state. After the required twenty.
five years OF service no credit shall be
allowed for time spent in other than
the public schools of Iowa.
Section s. In computing the time OF
iservice of a teacher the length OF the
school year in the district taught
shall constitute year, provided said
4 term shall not be less than six months
lin a calendar year credit shall be al
loved for one school year only. If q
teacher teaches only a fractional par,
Of a year credit shall be given fol-
such fractional part of a year as the
time taught shall compare to the
school year of such district.
i Section 6. No period ous of schoo
work shall be counted in computins
time of service unless such periot
was, or is, a leave OF absence dull,
granted b. the school board during
the first twenty-five years Of service
and such leave of absence may consis
nf wboIa year mr. NAV ocnc;rt n
periods of leaves of absences but tht
total sum OF such periods shall no
exceed one full school year.
Section Z. The board OF director