La Junta tribune., 1916-10-14
Proposed LAW Of the state OF Colorado,
Initiated by Petition tndrr the
Initiative and Referendum

Notice ls hereby given that At the
General election to be held on the Sew
enth day of November. A. II. 1916,
there will be submitted to the quail
fled electors OF the state OF Colorado
for their approval or rejection. the FOL,
lowing proposed law OF the state OF
Colorado. initiated by Petition under
the Initiative and Referendum. which
Initiated petition contained the sigma
lures OF more than the required mum.
Der. uo-wit: : per cent? Of the legal
voters OF the state of Colorado. duly
verified. In accordance with the Law.
and filed In the office OF the seere-
tary OF State on the sixth day OF July
A n 1916. at t:35 o'clock, u. NJ.
The authority for submitting such
proposed Law is found In Section ! OF
Article V OF the Constitution of the
state Of Colorado, providing for the
Initiative and Referendum.
A BILL FOR An act IL RELATION
TO THE INVESTMENT OF THE
PUBLIC SCHOOL FUNDS.
BE II Enacted by the People OF the
section / Ali school funds Of the
state. whether permanent or income
unless otherwise disposed OF BY law
shall be invested as directed by the
state board OF ln~d commissioner
Flrst-Iin Interest bearing warrants
OF the Stat. OF Colorado.
Cocond-ln bonds OF the state OF
Third-By loans on unincumbered
cultivated lands within the state OF
Colorado. and In manner hereinafter
Fourth-In bonds Of school districts
within the State OF Colorndo,
Firth. In bonds Of the several
counties. cities. town or city, bnd city
and counties OF IN. state OF tolofhuo
provided. however. that before any
moneys are so invested in bonds OF
counties. cities. town or city, ana CITY
and counties or school distriSts, N.
validity OF such bonds shall first b.
- a ~ ass ~
the state. and the state board OF lana
commissioners must be satisfied tina,
such bonds are In all respects l-saI
and a safe investment; and u IL fuT-
ther provided. however. that such
bonds or warrants shall be purchased
at price not to exceed par NAiue
and the accrued interest thereon
Section !: Investment, by loans s, on
OF Colorado shall be made only 10 per
-on. who are actual residents on such
land, and then only on lands OF ~nch
the appraised value - no. no, ", ,a
exceed 81. 10000 TO any one person,
such loans shall be made Tor NJ lehs'
one and not more thah i've sa,y
notes bearing six per cent 20 NJ
annually until due. with interest at
enn, @ p.r annam after maturity ON
both principal and DELINQUENT interest,"
sald pronirsory notes to be s.cur"i by
n. deed OF trus, to me pupdls, n, Nd.
uated. In favor OF the state OF 'oio'
RADIO. upon real estate as nhoNe n'
scrib.d Of an appraised value oi ~
least thre. times the amount OF th"
snin borrowed. ,.,...,,
Applications for loans on cultivated
farm lands shall b. made direct 20 IN.
stat. board OF lana eom,i,,,ly ~,
that purposc, and no loan shall ever
be made unless the applsah, ma y
good title In fee rimpl" 20 tn' lhhn ~.
,.r.d ps security for tn. loan. Upon
reccipt of the application the H'at'
hoard OF land commissioners snail un-
less they approv. the loan N ".
first instance. srgss ,,nsa ' ma '" nnprsis.d.
and nj In their Judgment, The s.cpt,
liy II ample and th"applichht " ~
respects comes within the terms OF th'
provisions OF this act. they may az.
prove IN. loan; provided. however.
that In the event that the loan -
made ON irrigated lands, such require
m-nts shall be made by "" poafa .i
land commissioners ~ shall secure %
IN. state first lien unon all water hnl
water rights for the Irrigation OF sara
When the application IL approved
by the state board of land commits
sionefs. the register shall tomnlri"
the contrac, by taking rfomiEHory
note PAYABLE 90 the state OF Colorado
and secured rs a deed of trust upon
the land In manner and form hH above
mentioned, nnd he shall forthwith
transmit tho deed Of trust g the roun.
- elerk and recorder .of the pronsr
county for recording A. soon ~ The
deed os trust II returned rom me
county clerk and recorder with the vs.
nat certificate OF record. the register
shall transmit the note and deed Of
trus, aud niI other securities N anes,
tion 10 IN. state treasurer, who Hhan
thsraupon pay 10 the applicant the
nfnoun, Of money named N said note
The state board OF land commissioners
shall In each ease require from the
applicant an abstract of title To tn.
land, certified to include the deed OF
trust which said abstract shall also
lie deposited with the state treasurer
in connection with the note ana deed
OF trust
rniiure to paw sny or all taxes when
the same are due. or failure 10 nay the
interest upon the said not. IN accord.
nnre with the terms OF the note. shall
render the principal due and payable,
anything In the note or deed Of trust
10 the contrary Notwithstanding.
When Z loan has been made. and the
borrower desires % roneW the same