The Julesburg grit-advocate., 1916-10-12

he attorney general. who shall imme-
such other procedure as may be neces-
sary and appropriate TO recover the
.ame, and an Injunction may issue
pointed for cause. when SO prayed.
Foreclosure of lands under deeds OF
trust given to the state In accordance
upon the same terms and conditions.
except as herein otherwise provided.
a. are prescribed by law for the fore
the public trustee and the state board
Of land commissioners or any oficer or
Of that board. or the
Of the attorney general. shall have the
right to bid in. in behalf of the state.
said lands at such foreclosure sale. and
the same shall be subject to redemp-
like conditions are lands sold un-
der deeds of trust in the ordinary
course of business.
In the event that such lands shall
be bid in in behalf of the state as
are not redeemed.
deeds shall be executed by the public
such land shall thereafter be under the
control and dir ction of the state board
of land commissioners, subject to all
terms and conditions which now or
school lands: provided, however. that
such lands shall not constitute a part
OF the publ SChOOl lanO Dut snail De
treated and considered as in manner
mentioned:
As soon as the deed from the public
trustee shall issue to the state. the
same shall be placed on record in the
proper county and the state board OF
land commissioners shall certify the
facts to the state board of equal izatton,
or such other officer. board or bureau
as may hereafter have authority to
make levies in behalf of the state, CIV
Ing the amount due upon said loan to
for this purpose shall be charged solely
at the rate OF six per cent l6 per cent?
per annum upon the principal amount
due d. % ON said said Land as hereinafter rein M 'ar nre1
vided. and the state board of equaliza-
tion or such other Officer. board or bu-
mshe ve re haUs Nt
shall. at the next meeting where the
levy of taxes for state purposes is
made. include in said levy tax upon
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 treasurer. credited to the
state school fund.
All lands SO sold under foreclosure
and conveyed to the state by virtue of
of the county where the land is situa
ted. shall be carried upon a separate
list properly, designated by the state
the same are sold by the state board
of land commissioners. all moneys re-
celved for the purchase Of such land.
state board Of land commissioners to to
the treasurer of the State of Colorado,
and and credited e,e to the general fund Of
sad pree & the
less than the amount of the original
loan. together with the interest
thereon.
comes necessary. the state board Of
land commissioners or the attorney
general shall have the right to with
draw from the custody OF the treas
pers. including the note, deed of trust
loan. giving to the treasurer a receipt
therefor.
animation of the land, the examination
Of title. the recording of the deed Of
trust. and any other expenses neces-
paid by the applicant. and the state
board of land commissioners may,
from time to time. REQUIRE Of said ap-
sary to defray said expenses.
The state board of land commission
ers. may at its discretion. require the
applicant. when the loan is made. to
hs
the deed of trust in favor of the State
Of Colorado, such insurance policy to
be placed in the custody of the treas
urer of the state with the note, alb
stract and deed of trust, and the failure
Of the applicant to pay premiums upon
said policy of insurance when the same
become due. shall be sufficient cause
for declaring the principal Of said loan
due and payable.
In the event that any property upon
which the State of Colorado holds a
deed of trust or loan made in the
manner aforementioned. shall, after the
execution of such deed of trust, be in
cluded in any irrigation district. drain
in a levy is made for local public i'm
provements. the lien thereby created
shall be subject to and subordinate to
o the en ot lbo he II IN
defeated by the lien of such irrigation
district. drainage district or local pub
lie improvement.
. Neither shall any such land be sub
Ject to taxes which accrue for any pur-
pose after a public trustees deed there
to shall have been executed in behalf
Of the State of Colorado as herein
above provided for; provided, however,
that in the event that there are taxes
other than those arising out of or in
connection with any Irrigation district,
district Of any kind or nature. which
it is necessary to pay in order to pre-
serve the lien of the deed or trust in
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 receipt 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,as soon as practica 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 office 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
applications 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 of money in the public
school fund, the amount invested and
the manner in which 1t Is invested. to-