Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1916-10-28
Proposed Constitutional
Amendments
To Be Voted On at General Election
of 1916
PROPOSED CONSTITUTIONAL
AMENDMENT NO. l

No. 17-Assembly Joint and Concur
rent Resolution, relative to amend
ing section 8 of article IL of the
Constitution Of the State of Ne
vada. Permitting investment of
permanent school fund in bonds of
Nevada counties or farm ~loans.]
Proposed and passed at the Twen-
ty-Sixth Session of the Legislature,
March 20, 1913, Statutes of 1913,
page 59l, agreed to and passed at the
Twenty-Seventh Session of the Leg
islature, February 4, 1915, Statutes
of 1915, page 5l3, and subject to rati-
ication by the people at the general
election of 1901
Resolved by the Assembly, the
Senate concurring, That section 3
of article II of the constitution of the
state of Nevada be amended to read
as follows:
Section 3. All lands, including the
sixteenth and thirty-sixth sections in
any township donated for the benefit
Ct public schools in the act OF the
Thrty-eighth congress, to enable the
people Of Nevada Territory to form
a state government, the 10000 acres
of public lands granted by an act of
congress, approved July I'd, A. D..
1862, for each senator and represen-
I nf,xra t, ~n,TraCc ntI oil nrnraafS
of lands that have been or may here
after be granted or appropriated by
the United States to this state, and
also the 100000 acres of land granted
to the new states under the act OF
congress distributing the proceeds OF
the public lands among the several
states Of the Union, approved A. d.,
lS41; provided, that congress make
provision for or authorize such Ill
version to be made for the purpose
herein contained; all estates that may
escheat to the state; all of such per
centum as may be granted by con-
grcss on the sale Of lands; all fines
collected under the penal laws of the
state; all property given or bequeath-
ed to the state for educational pur-
poses, and all proceeds derived from
any or all of said sources, shall be
and The same are hereby solclnn!y
pledged tor educational purposes, and
shall no. be transferred to any other
funds for other uses; and the inter.
est thereon shall, fro milne to time
I've apportioned among the several
counties as the Legislature may pro
vide by law; and the legislature shall
provide for the sale Of floating land
warrants to cover the aforesaid lands
and for the investment of all pro
ceeds derived from any of the above
mentioned sources, in United States
bonds, or the bonds Of this state, or
the bonds of other states of the
Union, or the bonds Of IN county in
tile state of Nevada; or in loans at a
rate of interest of not less than E pei
cen per annum, secured by mort
gage on agricultural lands in this
state OF not less than three times the
value Of the amount loaned, exclusive
of perishable improvements, of uneN-
ceptional title and free from all en-
cumbrances, said loans to be under
such further restrictions and regula-
tons as may be provided by law;
provided, that the interest only Of the
aforesaid proceeds shall be used for
educational purposes, and any sur
plus interest shall be added to the
principal sum; and provided further,
that such portion of said interest as
may be necessary may be appropriate
ed for the support Of the state uni
versity.