The Julesburg grit-advocate., 1916-11-02

the attorney general: who shall imme
diately bring action by foreclosure or
nS
without bond and a receiver be APP
eu Of lands under ID deeds of
trust given to the state in accordance
with the foregoing provisions. shall be
upon the same terms and conditions.
except as herein otherwise provided.
as are prescribed by law for the fore
closure Of ordinary deeds OF trust TO
the public trustee and the state board
representative of that board. or the
attorney general or any representa- tive
OF the attorney general. shall have the
said lands at such foreclosure sale, and
the same shall be subject to redemp-
iiGn hon an,d,eo IN the same manner and under
der deeds of trust in the ordinary
course of business.
In the event that such lands shall
oe Pc DID In In behalf of the state as
deeds shall be executed by the public
trustee to the State of Colorado and
such land shall thereafter be under the
~ Sh'aoi !a ana direction of the state board
VI Ianu commissioners. subject to all
Terms and conditions which now or
nehbeater scheai & may apply by law to public
cboi sucb Iands iands; 81 provided however. that
"A r
OF the public school land. but shall be
.reated and considered as In manner
hereinafter mentioned.
As soon IS the deed from the public
trustee shall issue to the state the
same shall be placed on record in the
Iand proper o.s county and the state board of
dacts TO the state board Of equaiiza tion.
or such other officer. board or bureau
an maka may isvi.l hereafter "a have authority to
Ing The b.e.,ns ato,n IN behalf of the state. Civ
the school fund, except' that tntares, 81
i9r mis- purpose shall be charged solely
ner se anpa pate OF six per cent iS per cent?
due on said land as hereinafter nres Mes
,ion tLuea, ~ ana MT the state board OF equaiiza-
Ieau as may hereafter have authority
70 make levies in behalf Of the state.
iaw snail at the next meeting where the
maze. include In said levy a tax upon
az taxable property within the state.
school em fund Smoupt fnr ,bs to reimburse the
loan. Loan principal. interest and costs. and
such tax. when collected, shall be- nv
she STATE treasurer credited to the
state school fund.
such foreclosure by the public trustee ee
e ted 'he shsf, county h where the land is situa-
noard Of land commissioners and when
o9 o1e ,snd same Ear are sold by the state board
ceiyed o ,or oeomfmhissionsrs. am all moneys re-
snata stat pc Pc paid by the register of the
fba sra, noara OF land commissioners to
and credted qd Pa the tse State Of
SAID state, even though the amount Of Of
Saio purchase price is In excess OF or
iess iesn than the amount of the original
thereon. i"'e'est
,o. In the event that foreclosure be-
comes necessary. the state board of
RenarsS ana eSommiSsiSners nha, Sa or the attorney
draw from the custody Of the treas.
urer Of the State Of Colorado ali ns-
per- per including the note, deed Of trust
therefor ~ '"' treasurer receipt
Al EXPENSES of appraisement and ex-
animation of the land. the examination
trust sue; and dhe recording of the deed OF
sary Tor making said loan, shall be
paid by the applicant. and the state
Sro puaro OF lana commissioners may,
plfcant, such deposit as may be neces.
sary to defray said expenses.
The state board of land commission
ers, ,,ny may at its discretion. require the
carry appropriate insurance on the
pnildings on the premises covered by
d1e & aeed Of trust in favor of the State
be placed in the custody Of the trea s.
urer of the state with the note. ab
stract and deed of trust. and the failure
said policy OF Insurance when the same same
become due. shall be sufficient cause
Tor declaring the principal of said loan
que and payable.
which the State of Colorado holds a
deed OF trust or a loan made in the
manner aforementioned. shall. after the
execution of such deed of trust. be in
cluded IN any irrigation district, drain
age district or any other district where
in levy is made for local public i'm
proXements; the lien thereby created
the lien of the deed of trust in favor
OF the state, which shall be in no wise
defeated by the lien of such irrigation
lie improvement.
Neither shall any such land be sub
ject to taxes which accrue for any Dur-
pose after a public trustees deed there
Of the State of colorado as herein herein
above provided for: provided, however,
that in the event that there are taxes
ta odner than those arising out of or. in
drainage district. or local Improvement
district of any kind or nature. which
Us tbe en d to dsd in order to
favor of the state, the state board of
land commissioners shall certify that
fact to the state treasurer giving the
amount of such taxes and the state
treasurer shall remit such amount to
the treasurer of the proper county, TAX
ing his REGENT therefor. Such payment
to be made from the school fund and
charged as part of the loan against
the debtor.
Applications for loans upon improved
farm lands shall; soon as practical BILE
after the same have been received by
the state board of land commissioners,
be posted in some conspicuous place
open to public inspection in the ONCE of
the state board of land commissioners,
and such notice shall give the name of
the applicant, the amount of money ap-
piled for. the description of the proper
ty offered as security and the time for
which the loan is desired, and all such
aprlica tions shall be considered by the
board in the order in which they are
received.
The state board of land commission
ers shall make all rules and regulations
necessary for the effectual performance
of the terms of this act, not inconsist-
ent Herewith, and shall have the right,
at any reasonable time, to require from
the state treasurer a statement of the
total amount nf rnnpay in fbo pub1 ic