The Ordway new era., 1916-10-20

PROPOSED LAW OF THE STATE
OF COLORADO, INITIATED By
PETITION UNDER THE INTTIA-
TIVE AND HEEERENDUM


Notice is hereby given that at the
General Election to be held on the
Seventh day of November, A, d. 1915
there will be submitted to the quail
for their approval or rejection. the
following proposed Law of the
State OF Colorado. initiated by
Reterenaum Retten under which ths intaseG pet a
ton contained the signatures OF
more than the required number. to.
wit: sSs) Of the legal voters ,,,5 OF
in accordance with the Law. and flled
in the office of the Secretary or State
on the sixth day OF July. a. D. 1910
The authority for submitting such
proposed Law is found in Section OF
Article of the Constitution OF the
state Of Colorado; providing Tor the
Initiative and Referendum.
A BILL FOR AN ACT IN RELATION
TO THE INVESTMENT OF THE
PUBLIC SCHOOL FUNDS.
Be 1t Enacted by the People Of tho State
of Colorado:
Section l. All school funds OF the
state, whether permanent or Income,
unless otherwise disposed of by law.
shall be invested as directed by the
state board of land commissioners
First.In interest bearing rd,a,,GM war
rants Of the state tat %dnGs of GeloofaU; of the
State of Colorado;
Thirdly loans on unincum-
bered cultivated farm lands with
in the State of Colorado. ana III
manner hereinafter provided;
Fourth--In bonds of school dis-
tricts within the State OF Colo
Fifth-In bonds of the several
counties. cities, town or city, ana
city and counties of the state OF
Colorado; proviaed' noweN1,, We inv,ested
in bonds of counties, cities. town
or city, and city and counties or
school districts, the validity OIL
such bonds shall first be deter.
mined by the attorney general OF
the state, and the state board OF
land commissioners must be satis-
fled that such bonds are In all re-
spects legal and safe investment
and it is further PROVIDED, moW
ever, that such bonds or warranes
shall be purchased at "a, prize ,Se ac. ae.
to exceed par value and the ac
crued interest thereon.
caction g. Investment by loans on
cultivated farm lands WITHIN lht S.are are
Of colorado shall be made only 10 per.
sons who are actuni nn lands of which
the appraised value is not less than IN
$500 per acre and in sums Oh NOT ~
exceed s25o9.o{1 to to mnSe nag for for at least
one and not more than five years, anu
shali he evidenced by promissory notes
hearing six per cent (oyol intettHu IL
annum, payable annually unt.i I'LL, na,.
with interest at the rate OF elSn Satu,itv
cent fSgo) per annum after maturity
ON both principal and delinquehs sa- sa
ennoa NV n deed of trust to the pupIiG
.s,,staa of the county wherein the iah1
trusi t!' .tt,,,ted. in favor of the state OF
Eo,orado. upon real estate as above ue
scribed of an appraised vaIue o. .ha e
1east three times the amount oh '
sum borrowed. cultivated
.. AZ ~, In nds shall be made direct 10 tne
laa. laIn hnarJ of land commissioners upon
bIanle forms to be PROVIDED ior he
piann and no loan shall ever pc
Pu. Unless the applicant has a gooaa
ilaae ia.ia In fee simple to the lands olleLett
tue n ieonmrity for the loan. Upon reGeips
~ ~ The application the state Doart thev
TIand Ia commissioners shall, uhiess s1s.. in,
iasa aise ennrove the loan In the ,gh iirs. IN
=. tmdument, the security IS anp.s
their gu annIicant in all respects comes
ano III tne ,he terms of the provislons u ..
WY. Wnn ~ fhey may approve tne ioa.
TINS thls,,asS however, that in the even VEN
R. tSs loan 10 made on nIsaS Ss
sn,,is. such requirement. sns.i .u,nm.rs ~ as
~ ~" the board Of land comm.ssiiEi ,,nss iisn upon
shall sec.sg s.r ma - water rights for the irri-
ssWym sMWSsr y the, application - appr0x,cr~.
Wnsn ma ri Of land .commiesIomosSs,
the ssssss, aim complete the ~. =,
sne w ~ ~ nrornissory note pay epss ~ -
esets q Colorado and ssS9rs ~ sc ~ ~
25Sfs s{fs1S aSon ~ ~ !, y. - n
lsSyfE XXI, Il ISL " VIII WI ts