The Ordway new era., 1916-11-03
PROPOSED LAW OF THE STATE
OF COLORADO. INITIATED BY
PETITION UNDER THE INITIA-
TIVE AND REFERENDUM

PETITION UNDER THE INITIA-
TIVE AND REFERENDUM
Notice Is hereby given that at the
General Election to be held on the
there will be submitted to the quail
fled electors of the State of Colorado.
for their approval or rejection. the
following. proposed Law any,,,tn, Of the ne
Petition under the Initiative and
Referendum. which initiated petit
tion contained the signatures of
more than the required number. Co..
the State of Colorado, duly verified.
in accordance with the Law. and filed
in the office of the Secretary OF state
on the Sixth day Of July. A. d. 1916
The authority for submitting such
proposed Law is found in Section l OF
State Of Colorado. providing for the
Initiative and Referendum.
A BILL FOR AN ACT IN RELATION
TO THE INVESTMENT OF THE
PUBLIC SCHOOL FUNDS.
Be 1t Enacted by the People Of the State
of Colorado:
state, whether permanent or income
unless otherwise disposed OF by law.
shall be invested as directed by the
state board of land commissioners
First-In interest-bearing war
rants of the State of Colorado;
Second-In the bonds Of the
State of Colorado:
Third-By loans on unincum-
bered guilty vated farm lands with.
manner hereinafter provided;
Fourth-In bonds of school dis-
tricts within the State OF COLO
Fifth-In bonds of the several
counties, cities, town or city, and
city and counties of the state OF
colorado: provided. however. thas
in bonds of counties. cities, town
or city, and city and counties or
school districts. the validity OF
such bonds shall & Iirst onoraI ne ueie Of
the state, and the state board OF
land commissioners must be salts
fled that such bonds are In all re.
spects legal and safe investment
and 1t is further provided now
ever. that such bonds or warrants
shall be purchased at a price rice not n
to exceed par value ana the ae
crued interest thereon.
section q. Investment by loans on
cultivated farm lands within the state
of Colorado shall be made only 10 per,
sons who are actual residents On such II
land, and then only on lands OF when NC !,
the appraised value il not less than
If. 90 Der acre and In sums OF NOT 20
exceed $2.5O0.0O to any one peTson .
such loans shall be ban ma9s 1--WE eoy Years, and
shall be evidenced by promissory notes
hearing six per cent (69o) interest," per
onnum1 payable annually until due.
With interest at the rate OF eight per
cent (8eo) per annum after matuFi.y
ON both principal and dennqueh. ~
terest. said promissory notes 70 pc seo T.
cured by s deed odnntv Oh yfvI1 Wherein the land
10 Situated, in favor OF the state o.
Hn,orodo. upon real estate as above oe
serthed of an appraised value or az
least three times the amount Oh 'he
sum borrowed. - ,,,,tivoted
,orm lands shall be made direct 10 tne
Iarn . hnarJ Of land commissioners upon
Sank forms to be provided for thas
n.a pia and no loan shall ever De
pua Unless the applicant has good
t1tie in Zee simple to the lands oLle ,s't
=. security for the loan. upon reGeipss ~
Of the application the ,,s sta.s nn,ess thev
l,la,nrnve ianu the loan in the first IN
otsapp appp cause the land to be thorougn.
'r,Ined and appraised. ana II, ~
IL Judgment, the security Is empas 3
snSS S ,hs applicant In all respects coHieS ~
nifhin an the terms of the provisionloo loan n
this act, they may app apptroixe IN the event
nrov1Ss 1Ss loan ID made on irrigassa
sn.t srci requirements shall Pc !naae 2 2
~. hoard Of land commissioner -
~ Dy.ii II sscure to the state first Zen upSsn rssa
sns m rstSr and water rights Tor tne irrA-
e.tioi, Of said lands: ,.nv.a nv
Wnsn Ws. VIZ hosrd 81 land conmissioncrs:
tns sNsesstsr ehali ccmpsete the conytAcs -
the : nroYaissory note payephs to
~ tssssne tsss = Eciorado ana secured y z =
~ SsuaS upen the lAne y