The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1916-09-30
PROPOSED CONSTITUTIONAL
AMENDMENT NO.

No. 17-Asssmbiy Joint and Concurrent Reso-
luton, relative 10 amending section three O
article elerea Of the Constitution Of the Stat,
of Neoada. Permitting investment If per
manent school fund in bonds Of Nevada
counties or farm loans.l
Proposed and passed at the Twenty.
Sixth Session of the Legislature, March rs,
passed at the T~wenty-Seventh Session # the
Legislature. February 4. 1915. Statutes of
1915. page 513. and subject to ratification by
the people at the general election OF 1916
Resotred by the assembly, the Senate con-
curing, That section three Of article eleven OF
the Constitution Of the state Of Nevada be smend.
ed TO read as follows:
Section 8. All lands, including the sixteenth
and thirty sixth sections In any township donated
for the benefit of public schools In the Act Of tho
Thirty eighth Congress, TO enable the people OF
Nevada Territory TO form a State government. the
thirty thousand acres of puplic lands gran I'D by
an Act OF Congress, approved July second, A D..
eighteen hundred and sixty.two, for each senator
and represent alive In Congress. and all proceeds
Of lands that have been or may hereafter b. grant
ed or appropriated by the United States 20 this
State. and also the five hundred thousand acres Of
and granted to the new States under the Act OF
Congress- distributing the proceeds Of the public
lands among the sew raj Stat $ Of the Uni n. ap
proved 4. ID. eighteen hundred and fort -one
prorided, that Congress make provision for or au
'horize such diversion to be made for the ptrposs
herein contained; all estates that NAV escheat Il
the State; all OF such per centum as may be grant
ed by Congress on the sac Il lands; all zines col
lected under the penal laws Of the State; all prop
erty given or bequeathed to the State for educa
ttonsl purposes, and all proceeds derived FROM an,
or all OF said sources. shall be and the same am
hereby solemnly pledged fer education 81 purposes
| and shall not be transferred TO any other fund,
| for other uses; and the interest ther eoS shall
| from time to time. be apportioned among the sew
| eral counties as the Legislature may provide by
law: and the Legislature shall provide for the aai'
Of floating land warrants to cover the aforesaid
| lands. and for the Investment of all proceeds de
| rived from any Of the aforementioned sources. IN
| United States bonds, or the bonds Of this State. OF
| the bonds Of other States Of the Union. or tbs
bonds Of any county In the State OF Nevada: or In
loans at . rae of Interest Of not less than six * per
annum, secured by mortgage on agricultural lsnd'
in this State OF not less than three times the vslut
Of the amount loaned. exclusive Of perishshle I'm
provements. OF unexceptional title and free from
all encumbrances. said loans TO be under such fur
ther restrictions and regulations a. Dsy be pro
| vided by law: prorided, thst the interest only OF
the aforesaid proceeds shall be used for education
al purposes. and any surplus interest shall be add
ed to the principal sum: and prOrided further
that snch portion OF said interest as msy he neces
cary may be appropriated for the support OF the
State University.