White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1916-10-15

IN ~ 49,
and the interest thereon shall. from
time to time. be apportioned among
the several counties as the Legislature
may provide by law and the legisla
ture may provide for the sale Of float
ing land warrants to cover the afore-
said lands, and for the investment OF
all proceeds derived from any of the
aforementioned sources, in United
States bonds, or the bonds of this
state. or the bonds of other states OF
the Union or the bonds or any county
In the State OF Nevada; or In loans
at a rate of interest of no less than
, six per cent e annum, secured by
mortgage on agricultural lands in this
state of not less than three times the
value of the amount loaned exclusive
of %perishable improvements, of unex-
ceptional title and free from all en-
cumbrances, said loans to be under
such further restrictions and regula-
| lions as may be provided by law; pro-
yided, that the interest only of the
aforesaid proceeds shall be used for
educational purposes, and any surplus
interest shall be added to the pr1nci-
pal sum; and provided further, that
such portion of said interest as may
be necessary may be appropriated for
che support of the state university.
Proposed Constitutional Amend
ment No. 2
No. Senate Concurrent Resolu-
ton, relative to amending section
three of article nine of the Constitu-
ton of the State Of Nevada. ALLOW
ing increase of bonded Indebtedness
of State from $500, 600 to i Der cent of
assessed valuation of State.)
Proposed and passed at the TWEEN
ty-sixth Session of the Legislature
| March IA, 1913, Statutes of 1913, page
585, agreed to and passed at the
Twenty-Seventh Session of the Legis-
lature, February s, 1915, Statutes of
1915, page SIG. and subject to ratifca-
tion by the people at the general cleo
tion of 1850
Resolved by the Senate, the AS
| sembly concurring, that section three
of article nine of the constitution OF
the State of Nevada be amended so
as to read as follows:
Section 3. The state may contract
public debts, but such debts shall new
er In the aggregate, exclusive of inter
est, exceed the sum Of n per cent of
the assessed valuation of the state, as
shown by the reports OF the county
assessors to the state controller. ex-
cept for the purpose Of defraying ex-
traordinary expenses. as hereinafter
mentioned. Every such debt shall be
authorized by law for some purpose
or purposes, to be distinctly specified
therein; and every such law shall pro-
vide for levying IN annual tax suffi-
cient to pay the interest semiannually
and the principal within twenty years
from the passage of such Law and shall
specially appropriate the proceeds of
said taxes to the payment of said
principal and interest; and such ap-
preparation shall not be repealed, nor
the taxes postponed or diminished,
until the principal and interest OF said
debts shall have been wholly paid.
Every contract of Indebtedness enter
ed into or assumed by or on behalf of
the state, when all its debts and
liabilities amount to said sum before
mentioned, shall be void and of no eff
feet, except in cases of money borrow
ed to repel invasion, suppress insur'
r~ection, defend the state in time of
war, or, if hostilities be threatened,
provide for the public defense.
State of Nevada, County of White
Pine, SIS.
l, F. d. Oldield, the duly elected
qualified and acting County Clerk OF
the County of White Pine, State OF
Nevada, do hereby certify that the
foregoing is a full, true and correct
copy of a Certified Copy of the Orig
inal proposed Constitutional Amend
ment No. l entitled. Assembly joint
and Concurrent Resolution, relative
to amending Sec. 3 of Article II OF
the Constitution of the State of Ne
vada," approved Mar. 26. 1913-Feb
4. 1915. permitting investment Of
permanent school fund in bonds oil
Nevada Counties or farm loans), also
proposed Constitutional Amendment
No. 2 entitled Senate Concurrent
Resolution, relative to amending Sec
ton 3 of Article 8 of the Constitu
ton of Nevada" approved Mar. IA
1913-Feb. s., 1915, following in
crease of bonded indebtedness oil
State from $500, 900 to 1 per cent
of assessed valuation or State,) as
required under Sec. so of an Act en-
titled "An Act relating to Elections
approved Mar. 20, 1915, now on file
and of record in this Office.
IN WITNESS WHEREOF, | have
hereunto set my hand and affixed my
Official Seal. at my office, in the City
of Ely. White Pine County. Nevada
this Bird day of October, A. d. 1916.
Der, A. ID. 1916.
(SeaD +. ID. OLDFIELD,
County Clerk and Ex-Oficio Clerk
of the Ninth Judicial District Court
of the State of Nevada, in and for
the County of White Pine.
Date first publication October 6, 1916.
Date last publication Nov. 8, 1916.