La Junta tribune., 1916-10-07


II may be done in manner as the loan
was made in the first instance. but no
new abstract. except a continuation OF
the same down to the time OF ex-
tension. nor examination of title prior
TO the original loan. nor new deed OF
trust need be required. unless the deco
Of trust is to be given upon other
lands, The time of payment. without
further security. may he extended In
wiring TO be recorded as the oriR
inal security was recorded, and before
maturity of the claim, when the state
board OF land commissioners shall so
order. but such extension of time
shall not operate to release any Sc
curity held, and lapse OF time shall IN
no case be "A bar to any action to re-
cover any part of the school or other
permanent fund SO loaned, nor shall IT
prevent the Introduction of evidence
In such action. any provision of the
law to the contrary Notwithstanding.
An payments of either principal or
interest upon loans, or of any other
character, shall be made to the regis
ter OF the state board OF land com
missioners, who shall forthwith trans
NIT the same to the treasurer with
a certificate showing the amount and
the purpose for which the payment is
made, and the treasurer shall forthwith
indorsc upon the note in proper form
the payment SO made, and when the
debt Is fully paid, the treasurer shall
cancel the note and deliver the note.
abstract OF title and deed OF trust
and all other securities TO the register
oil the state bOalN OF lNnu
sioners; the register OF the said board
shall execute aud deliver a request
for the release of such deed OF trust
and return the note, abstract and
other securities to the debtor and re-
port the same to the state board OF
land commissioners at its next meet
ing, which report shall be carried IN
to tn" records OF the board,
The register OF the state board Of
land commissioners shall also keep in
his office. In books to u" provided Tor
that purpose. accounts to he known as
Permanent Fund Accounts In which
a memorandum OF all notes, mort
cages, deeds OF trust. bonds, money
and assets Of every Kind and des-
criptIou which may come into ms
hands as such regicter and separate
accounts OF principal and interest
nsust be kept
when outstanding notes for money
OF any permanent fund loaned or IN
tcrcst thereon become due. the register
OF the state board OF land commission
crs shall. hy mail at once notify the
debtor to make payment thereof win
In thirty days, II such debtor shan neg
leCt to comply with such notice. the
register OF the state board OF land
commissioners shall report the same
to the attorney general VINO shall
Immediately bring action by fore
closure or such other procedure as
may b. necessary and appropriate to
recover the same, aud an injunction
may issue without bond and receiver
be appointed for cause. when so
prayed
Foreclosure Of lands under deeds
OF trust given to the state In accord
ance with the foregoing provisions,
shall be upon the same terms and
conditions. except as herein otherwise
provided. as are prescribed by law Tor
the foreclosure OF ordinary deeds OF
trust to the public trustee and the
stat. board OF land commissioners or
any officer or representative OF that
have the right to bid in. In behalf
board. or the attorney general or any
representative OF the attorney general.
shall have tn. right to bid In In behaif
of the state. said lands at such fore
closure sale. and tn. same shall be
manner and under like conditions as
are lands sold under deeds OF trust
In the ordinary cours. OF business
In the event that such lands shall be
bid in In behalf OF III. state as afore-
mentioned are not redeemed. deeds
shall be executed by tn. public trustee
to the state of Colorado and such
land shall thereafter be under the con.
troll and direction OF the state board
of land commissioners. subject to all
terms and conditions which now or
hereafter may apply by law houayar 10 pun
that such lands shall not constltut.
part OF the public school land. but
shall be treated and considered as lN
manner hereinafter mentioned.
As soon as tn. deed from the public
trustee shall isEu. to tn. state. the
safno shall be placed on record IN me
uropsr county and the state board OF
land commissioners shall certify the
facts TO the state board OF cqualiza@
ton. or such other oftc"rt BOARD "f
bureau aS may hereinafter haV" an-
thority to max" leVi.s IN behhli OF W.
state. giving the amount du. upon
said loan TO the school fund, except
that Interest for this purpose shall ne
charged solely At the rat. OF rlN per
cent uG per cent? per annum upon
,h ..,fnalRHl "A of Nuln note To-
y.th.r with all taxes du. ON said lRhH
as hereinafter provided ana the stare
board OF equalization or such Other o,
fic.r board or bureau as may h"f"hl
ter haV. authority to MAX" leNl"s pm
behalf OF the state. shall at tn" nsAl
meeting wher. the levy OF taxes l"i
levy 4 tax upon all taxable property
within tn. state, Of sufficient amoAhl
10 r.imburs. the school fund Tor inc
amount OF said loan. principal lnt"T.
est and costs. and such tax. when
collected. shall b. by the state tIrnh
ur.r, credited to tn. state school fuhh
All lands so sold under foreclosur-
and conveyed to tn. stat. by virtue
trustee OF the county where the lana
IL situated. shall he carried uron
separate list properly designated hS
the state board OF land eommlss'"n.
the stat. board OF land commlrslnn-
ers. all moneys received for IN" p.I
chase OF such land. shall u" phln -.
the register of the state board OF lahd
commissioners TO tn. treasurer Of ne
STATE Of Colorado. and credited to me
general fund Of said state, rN"h
though the amount Of said pufch.se
prirs 10 In excess Of or less than NC
amount OF the original loan. together
With the interest thereon.
In the even, ,ha, foreclosure he,
comes necessary. the stat. board ni
land commissioners or the attorney
general shall hnv" III. right to Win
draw from the custody of the treas,
ur~r Of tn. state OF Colorado az
papers. including tn. note. deed OF
trust and abstract OF title b.lonE.ns
to said loan. giving to the treasurer
n receipt therefor
All expenses of apprais~ment anh
examination OF the land, the -Nhfnln.
alton of title. the recording OF 'h. deed
OF trust, and any other expenses nefss-
pary for making said loan, SHAH be
paid by thrnppiirant aud tn. state
board Of land commissioner may.
from time 10 time. reauir. OF HAl1
applicant. such deposit ms may %"
necessary 10 d~fray said EXPENSE
Th. ssrt- board Of land commission.
err. may At its discretion. require The
~sNap IN. iaaa A. made to