The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1916-10-27
Proposed Constitutional Amendment

proposed CONSTITUTIONAL Amendment
No. I.
No. 17-Assembly Joint and Con-
current Resolution. relative to
amending section three of article
eleven of the constitution of the
State of Nevada, Permitting in
yestment of permanent school
fund in bonds of Nevada counties
or farm loans.
Proposed and passed at the
Twenty-Sixth Session of the Legisla-
ture, March %, 1913, Statutes of
1913. page 59l, agreed to and pass
ed at the Twenty Seventh Session of |
the Legislature, February A, 1916, |
Statutes of 1915, page 513, and sub
ject to ratification by the people at
the general election of 1916.
Resolved by the Assembly, the
Senate concurring, That section three
OF al ticle eleven of the constitution
of the State of Nevada be amended
t. read as follows:
Section ). All lands, including
the sixteenth and thirtysixth sec"
tons in any township donated for the
benefit of public schools in the act
of the Thirty-eighth Congress, to ell
able tie people of Nevada Territory
to form a state government, thir-
~ thousand acres of public lands
granted by an act of Congress, ap-
proved July second, A. d, eighteen
hundred and sixty-two, for each sen
ator and representative in Congress,
and all proceeds Of lands that have
been or may hereafter be granted or
appropriated by the United States
to this state, and also the five hun
dred thousand 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.
eighteen hundred and forty
provided, that Congress make pro
vision for or authorize such diversion
to be made for the purpose herein
escheat to the state; all of such per
centum as may be granted by Con-
gress 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 solemnly
pledged for educational purposes
other funds for other uses; and the
interest thereon shall, from time tC
time be apportoned among the sew
eral counties as the legislature ma,
provide by law: and the legislator,
shall provide for the sale of floating
land warrants to cover the aforesaid
proceeds derived from any of tn,
aforementioned sources, in United
States bonds, or the bonds of thi'
state, or the bonds of other states o
the Union, or the bonds on any coun
ty in the State of Nevada: or il
loans at a rate of interest of not les
than six per cent per annum, secured
by mortgage on agricultural lands il
this state of not less than three time
the value of the amount loaned, ex
elusive of pershable improvements
of uneXceptional title and free from
all encumbrances, said loans to b.
under such further restrictions an,
regulations as may be provided b.
law; provided, that the interest onl
of the aforesaid proceeds shall b
used for educational purposes, an,
any surplus interest shall be adde,
to the principal sum; and provide,
further, that such portion of said in
terest as may be necessary may b
appropriated for the support of tn
state university.
Proposed Constitutional Amentmer