The Delta independent., 1916-10-27

commissioners shall also keep in his office.
in books to be provided for that purpose.
accounts to be known Permanent Fund
Accounts, in which memorandum of all
notes, mortgages, deeds of trust bonds
money ana assets OF every kind and deserip-
ton which may come into his hands as
such register and separate accounts of prin-
cipal and interest must be kept
When outstanding notes for money of any
permanent fund loaned or interest thereon
become due the register of the state board
of land commissioners shall, by mail, at
once notify the debtor to make payment
thereof within thirty days, If said debtor
shall neglect to comply with such notice,
the register of the state board of land COM
missioners shall report the same to the at
torney general, who shall Immediately bring
action by foreclosure or such other proceed
may be necessary and appropriate
to recover the same. and an injunction may
issue without bond and receiver be APP
pointed for cause, when so prayed.
Foreclosure OF lands under deeds of trust
given to the state la accordance with the
foregoing provisions. shall be upon the same
terms and conditions. except as herein other
wise provided. are prescribed by law for
the foreclosure of ordinary deeds of trust
to public trustee and the state board of
land commissioners any officer or repre-
sentative of that board, or the attorney gen.
eral any representative of the attorney
general, shall have the right to lid In, in
behalf of the state. said lands at such fore
closure sale. and the same shall be subject
to redemption in the same manner and I'M
der like conditions as are lands sold under
~
business.
In the event that such lands shall be bid
in in behalf of the state as aforementioned
are not redeemed, deeds shall be executed
by the public trustee to the State of Colo
RADIO and such land shall thereafter be I'm
der the control and direction of the state
board of land commissioners. subject to all
terms and conditions which now or hereafter
may apply by law to public school lands
provided. however. that such lands shall
not constitute a part of the public school
land but shall be treated and considered
as in manner hereinafter mentioned.
As soon as the oeed from the public trus-
tee shall issue to the state, the same shall
| be placed record in the proper county
and the state board of land commissioners
| shall certify the facts to the state board OF
| equalization. or such other officer board oil
| bureau as may hereafter have authority &c
make levies in behalf of the state giving
the amount due upon said loan to the school
| fund, except that interest for this purpose
| shall be charged solely at the rate Of siA
per cent &c per cent? per anDum upon the
principal amount of said note. together with
all taxes due said land as hereinafter pro-
vided, and the state board of equalization
or such other officer. board bureau as
may hereafter have authority to make lev
| les in behalf of the state. shall. at the mex
meeting where the levy of taxes for state
purposes is made. include in said levy
tax upon all taxable property within the
( state of sufficient amount to reimburse the
] school fund for the amount of said loan
/ principal. interest and costs. and such tax
| when collected. shall be, by the state treas
urer, credited to the state school fund.
All lands so sold under foreclosure anC
! conveyed to the state by virtue OF such fore
| closure by the public trustee of the county
/ where the land is situated shall be carried
upon a separate list properly designated by
! the state board of land commissioners ant
when the same sold by the state boart
of land commissioners, all moneys received
! for the purchase of such land, shall be paiC
by the register of the state board of lant
commissioners to the treasurer of the State
OF Colorado. and credited to the genera
school fund of said state, even though tht
amount of said purchase price is in excess
of or less than the amount of the origina
loan. together with the interest thereon.
In the event that foreclosure becomes
necessary. the state board of land commits
sioners the attorney general shall have
the right to withdraw from the custody OF
! the treasurer of the State of Colorado al
papers, including the note. deed of trus
/ and abstract of title belonging to said loan
| giving the treasurer a receipt therefor.
All expenses of appraisement and exam
| ination of the land. the examination o
| title. the recording of the deed of trust
and any other expenses necessary for max
| ing said loan, shall be paid by the appli
J cant, and the state board of land commits