La Junta tribune. (La Junta, Bent County, Colo.) 1881-1939, 1916-10-21

was made in the first instance, but no
new abstract except a continuation OF
the same down TO the time OF eN-
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
wriung TO be recorded as the orig
NAL security was recorded. and before
maturity of the claim, when the state
board OF land commissioners shall SO
order, but such extension OF time
snail not operate to release any Sc
curity held, and lapse of time shall IN
no case he "A bar 10 any action TO re-
cover any part Of the school or other
permanent FUND so loaned, nor shall IL
prevent the introduction of evidence
in such action. any provision of the
Ia" 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, ana the treasurer shall forthwith
indorse upon the note In proper form
the payment so made, and when the
debt * fully paid, the treasurer shall
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
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 OF
land commissioners at Its next meet
ing which report shall Ice carried IN
20 the records OF the board.
The register Of the state board OF
land commissioners shall also keep in
his office. In books to he provided for
that purpose, accounts to hc known as
Permanent Fund Accounts In which
a memorandum Of all notes, mort
cages, deeds Of trust, bonds, money
ana assets OF every kind and des-
eruption which may come into his
hands as such register and separate
accounts Of principal and interest
u.I st Doe kept.
When outstanding notes FOR money
uf any permanent fund loaned or IN
t-rcst thereon become due the register
% tn. state board OF land commission
,Ts shah. by mail, at once notify the
debtor to make payment thereof win
iu thirty days, II such dchtor shall neg
lrCt to comply with such notice, IN.
register OF the state board OF land
commissioners shall report the same
to the attorney general, who shalI
Immediately bring action by fore
closure or such other procedure as
may b.. necessary and appropriate. 10
recover the same, aud an injunction
may issue without bond and q receiver
b- appointed for cause. when so
prayed.
Foreclosure OF lands under deeds
Of trust given to the state In accord
auCc with the foregoing provisions,
shall b. upon the same terms and
conditions, except as herein otherwise
provided, as are prescribed by law Tor
the foreclosure OF ordinary decds OF
trust 10 the public trustee anu the
state board OF land commissioners OF
any officer or representative OF that
have the right to bid In, IN bchalf
board. or the attorney general or any
e.. g. t.H.. 90 H.s At
shall haV. the right TO hid In IN bchalf
OF IN. state, said lands at suCh fore
closure sale, and the same shhli ne
subject TO redemption IN the same
manner and under like conditions as
are lands sold under deeds OF trust
Ia the ordinary course Of business
In the event that such lands shHll De
hid Ia in behalf Of the state AZ aiore-
mentioned are not redeemed, deeds
shall hc executed by the public trustee
to the state OF Colorado and such
land shall thereafter be under the con.
troll and direction Of the state BOARD
Of land commissioners. subject 10 an
terms and conditions when now or
hereafter may apply nl IA" 20 p, nn-
that such lands shall not constitute .
part Of the public school land. but
shall bc treated and considered as ~
manner hereinafter mentioned.
A. soon as the deed from the public
trustee shall issu" TO the state. M
same shall D." placed on record m 10,
proper county ana the STATE h"hfH o..
land commissioners shall r'rtlfN i'r
fnrfs 20 the state board Of equHlIE..
tun. or such other OFFICER h"hfh flo.
bureau as may hereinafter nave ..
thartfF 90 max. leyies in behalf OF iN'
state. giving the amount au' HI.'.
s4IT loan to the school fund excel
that interest for this purpose shHH .'
charged solely at the rate OF Dix N'.
cent o. per cent? per Huuum ul.".
IN. urlnslpal amount OF said note gao
rtthsr with all taArr nu" on hHln t...
a. hereinafter provided, and ~. ~.
hoard 81 equalization or such oih'f 20.
io.r. board or bureau a. may here.
ter have authority 10 make l"Nl'f o..
behalf Of the state, shall ~ me ne
meeting where the levy OF taxes 10.
state purposes II made, tnClud" IN f".'
lew a taN upon all taxable proV'riT
within the state, OF sufiiCi'ht .h"...
20 r.imburs. tn. school fund tot lL'
amount OF said loan, principal ny
est and costs. and such tax. wh'H
collected shall be by the stat" if'as.
ursr credited TO the state school ihh.
All lands so sold under Foreclosure
,nd conveyed TO the stat. by NliiH'
OF such foreclosure by the pnhN'
,rust.. of the county whef. tn" land
II situated. shall be carried upon y
separat. list properly d"slpnht'u nf
the stat. board OF land commlss'"u
.rs and when the same ar" sold hN
the stat. board OF land commission.
srs. all moneys received Tor the p.I
chas. of such land. shall be pnla ny
m. register of the state board OF lhtA
commissioners to the treasurer Of me
stat. Of Colorado. and credited 70 nv
general fund OF said state, .N,n
though the amount OF tald pui'h.s'
prlc. In In excess Of or less than ne
amount of IN. original loan. toF"ih'f
With tn. int'res, thereon.
In the event that foreclosure Dc,
comes necessary, tn. stat" hohfn 'I
general shall hav. the right 20 with
draw from tn. custody Of tn" treas.