La Junta tribune., 1916-10-07
Proposed Law Of the state Of Colorado
IsitiRt~d by Petition Under the
Initiative aud Referendum

Notice IL hereby given that at th'
General election to be held on the Sew
enth day OF November, a II. 1916
there win 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 oi
Colorado, initiated by Petition under
the Initiative and Referendum. which
initiated petition contained the sigma
lures OF NOR" than the required mum,
her, tto-wit: per cent? of the lega
voters OF the State OF Colorado. duls
verified. in accordance with the Law
and filed In the office Of the Secre'
tary OF State on the Sixth day of July
A n. 1915. at t:35 o'clock, 4. n.
The authority for submitting sucf
SrGsg.ed ss lay ss IL. Il ssss'e. e a.
state of Colorado. providing FOR ms
Initiative and Referendum.
A BILL FOR AN ACT IN RELATION
To THE INVESTMENT OF THf
PUBLIC SCHOOL FUNDS
BE 1, Enacted by the Peopi. OF this
section l. All school funds OF tn,
state. whether permanent or income
unless otherwise disposed OF by law
shall u. Invested as directed by th'
state board OF land commissioners
First-Iin Interest hearing warrant,
Of the State OF Colorado.
Cecond-ln bonds OF the state of
Colorado;
cultivated lands within the state OF
Colorado, and In manner hereinafter
provided.
Fourth-In bonds Of school district,
within the state OF Colorado
Fif,h-in bonds of the several
counties. cities, town or city. and cit,
and counties OF tn. state Of Colorado
provided. however. that before nnl
moneys ar. 50 invested In bonds oi
counties. cities. town or city. and citS
and counties or school districts, the
validity of such bonds shall first b,
determined by the attorney general OF
tn. state. aud tn. state board OF land
commissioners must be satisfied tina,
such bonds ar. In all respects Legal
and raf. investment; and II IN fur,
th.r provided. however. that such
bonds or warrants shall be purchased
at price not to exceed par value
and the accrued Interest thereon.
Section 2 Investment by loans on
cultivated farm lands within the state
OF Colorado shall be made only to per
sons who are actual residents ON such
land. and then only on lands OF which
tn. appraised value In not less thar
$500 per acr. and In sums OF not "a
exceed S2.50o,O0 TO any one person.
such loans shall b. made FOR at least
one and not NOR. than fv" years
aud shall u. evidenced by promls.ors
notes bearing six per cent % PEI
cent? ,n'er.r, Per snnSm' .,,S ,.s,, psy"p,; u,
tn. rate OF eight per cent. q pei
cent? per snnum after maturity or
both principal and delinquent Interest
said promissory notes 10 b. secured by
y deed OF trust to tn. public trustee
OF tho county wherein the land IN sit
uated. In favor of the state Of Colo
RADIO. upon real cstat" as hboN" hc.
least three times III. amoun, OF the
sum borrow
Applications for loans on cultivated
farm lands shall be mad" direct TO ths
upon blank forms to b. provided for
that purpose, and no loan shall ~sef
be mad. unless the applicant has q
good title In fee simple TO tn" land Of
receipt OF the application IN. stats
board OF land commissioners shall. un'
less they approx. the loan ~ ths
first Instance. rHps" tn" land 10 bs
and H. in their Judgment, tn. recur,
lily l- ample and th-appllcant IN all
respects comes within the terms OF ths
provisions Of this act. they may ap.
that In tn. event that the loan i'
made on Irrigated lands. such require.
tn.nts shall he mad. by the board o'
land commisulo.netr as rhsil s..nf" v.
the stat. first lien upon all water and
water rights for the irrigation Of said
lands ..
hy the state board OF innd COMMIT, som,nI.,,
the contract by taking n promiHHorS
note pHynbi" 10 the HtRt. OF Colorado
aud secured hy deed Of trust upon
the land In manner and form ~ above
mentioned aud he shall forthwith
transmit tho deed of trust 10 the couh'
~ rinfi ard recorder Of IN" proper
county for recording ~ soon a. ,hs
deed Of trust IL returned from The
county clerk and recorder with the us
uai certificate 81 record. the register
shall transmit the note and deed oi
trust and Rii other securities n au"s.
tion 10 the state treasurer. who rhall
thereupon pay 10 the applicant the
amount of money named IN said note
The state board Of land commissioner.
shall In each ease require from this
applicant an abstract Of title to this
land, certified to include tn. deed oi
trust which said abstract shall also
be deposited with the state treasurer
IN connection with the note and deed
Of trust
Failure TO paw any or all taxes whsr
the same are due. or failure TO pay ths
interest upon the said note In accord.
Anrs with the terms Of the note. shall
aayihinG IN iSs nsis er deed 81 irusl
70 the contrary .netwtthstan1tng.
when q lean has been made and th(