La Junta tribune. (La Junta, Bent County, Colo.) 1881-1939, 1916-10-28

was made in the first instance. but no
new abstract except a continuation OF
tension nor examination of title prior
to the original loan, nor new deed OF
trust need be required, unless the deed
Of trust is to be given upon other
lands. The time of payment, without
further security, may be extended IN
writing to be recorded as the orig
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 he a bar to any action to re-
cover any part of the school or other
permanent fund so loaned. nor shall II
prevent the Introduction of evidence
In such action any provision of the
law TO the contrary notwithstanding'
All 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
init 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 snail
cancel the note and deliver the note,
abstract of title and deed OF trust
and all other securities to the register
OF the state board OF land commits
siouers: the register OF the said board
shall execute and 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 oil
land commissioners at its next meet
ing, which report shall be carried In
to the records of the board,
The register OF the state board OF
land commissioners shall also keep III
his office In books to be provided for
that purpose. accounts to be known ny
Permanent Fund Accounts In which
"A memorandum Of all notes, mort
cages. deeds OF trust bonds, money
ana assets Of every kind and des-
cription which may come into his
hands as such register and separate
accounts of principal and interest
must be kept
When outstanding notes for money
OF any permanent fund loaned or IN
tsrest thereon become due. the register
OF the state board of land commission
ers shall, by mail. at once notify the
debtor to make payment thereof with
In thirty days. II such debtor shall neg
lrct TO comply with such notice. the
register Of the state board OF land
commissioners shall report the SAM
to the attorney general who shan
Immediately bring action by fore
closure or such other procedure as
may be necessary and appropriate TO
recover the same, and 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
aRce with the foregoing PROVISIONS
shall be upon the same terms ana
conditions. except MS herein otherwise
provided. as are prescribed by law tos
the foreclosure OF ordinary DEEDS o.
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 behait
board or the attorney general or any
nf th. attorney general
shall have the right to bid In In behaif
OF the state. said lands at such Tors
closure sale. and the same shali ne
subject to redemption In the SANE
manner and under like conditions as
are lands sold under deeds OF trust
in the ordinary course OF business
bid In in behalf OF tn. state as afore-
mentioned are not redeemed ueehs
shall Ice executed by the public trustee
to the state OF Colorado and such
land shall thereafter b. under the con.
troll and direction OF the state board
OF land commissioners. suble,t 70 All
terms and conditions whlch now or
hereafter may apply by law TO pun
lie school lands; provided. however
that such lands shall not eonstitut.
part OF tn. public school land, but
shall be treated ana considered as ~
manner hereinafter mentioned
As soon as the deed from the pubic
trustee shall issu" to the state the
same shall bc placed on RECORD N ING
proper county aud the state s0atu %s
land commissioners shall ccrtlfN lhr
facts to the state board OF equallEa-
ton. or such other OFFICER bohI" OF
burrau a. may hereinafter have nh-
thority to make leyics In behalf OF inc
state giving the amount du" upon
aid loan to the school fund. except
that Interest for this purpose shhl h'
charged solely at tn. rate OF SIX per
c.pt az n.r cent? per nnnum upon
the principal amount OF said note tp
grther with all taxes due on halh iA.l
a. hereinafter provided ana ths 49,
board Of equalization or huch oth'l
fIc.r board or bureau as may h'i'ai
ter have authority to make leNl's W.
behalf OF the state, shall. At IN" hsAt
meeting where tn. levy OF thhes 70,
81. ntirpos.s is made. Include IN shih
levy a tax upon all taSabl. properly
within tn. state, OF sutflcloh, aul".na
to reimburse the rchool rum i"I -
amount of said loan, principal lht'I
est and costs, and such tax, Wheh
collected, shall be by the state treas
urer credited to the stat. school iuh"
All lands so sold under forecl9sar.
and conveyed to tn. state by virtue
Of such foreclosure by tn. public
| truste. OF the county whcr. IN" lhtu
is situated. shall be carried upon
separnt. list properly derlsnh'.u ~
.rs and when tn. same ar" solh Nv
tn. state board OF land cominlrsl"n-
.rs all moneys received Tor IN" Phr
chase of such land. shall he para Wy
/ m. register Of the stat. board OF lhhn
Commissioners TO the treasurer OF ne
| stat. OF Colorado. and credited to me
general fund OF said state, .N.n
though tn. amount Of said purfhas.
price In In excess Of or less thah tha
AMOUNT OF tn. original loan, together
With IN. Interest thereon
In the event that forcciosaf" be
/ comes necessary, the stat" board OF
land commissioners or IN" attorney
| general shall have IN" right TO WIN
| draw from tn. custody OF the h'as,
uror OF the stat. OF COLORADO az
/ pnporH Including the note. deed OF
/ ,rus, and abstract Of TIL. helonR,ns
to said loan. giving to the treasurer
! a receipt therefor
All expenses OF apprnlrement and
| examination Of the land, the rNhinlh,,
alton Of title. the recording OF We h'sd
/ OF trust. and any other expenses h"'ns.
| sary for making said loan. shhll ..
/ paid by theapplirant and the lhte
/ board Of land commirrloh"fs mal,
/ from time TO time. require OF said
Z applicant such deposit ms may DC
necessary to d.fray said expenses.
| The state board of land commission
.rs may Rt Its discretion. requlr. me
| applicant. when the loan II made 70
/ carry appropriate insurance on me