La Junta tribune. (La Junta, Bent County, Colo.) 1881-1939, 1916-10-21
'f"p"scd Law OF the state of Colorado.
'"'htrd nv Petition pdrr the
INITIATIVE aud Referendum,

Notice IL hereby given thar =, 81.
General election to be held ON the sew.
thth day OF November 4 - siSf.
,,htIe VIII be submitted to the quail,
tI'n electors OF the state OF Colorado
Tor their approval or rciectiou- ~. 81,
lowing proposed law OF the star. a,
colorado, Initiated by Petition undcr
w, lnlIihtlN" and Referendum which
inflated petition contained the sigma.
lures OF more than the required mum
Der to-Mit per cent? OF tho leVai
not.Ts or the state Of Colorado, duly
ana filed In IN. office Of M. Ssc,',,
t"fN or state on the Sixth dan OF JulN
\ -. lsl., At is35 o'clock = NJ
IN, ~" 'a',nt,hority for submitting such
Aucle OF the Constitution Of the
STATE OF Colorado. providing FOR ~.
luitl7tiV" and Referendum
A 81 BILL FOR An ACT IN RELATION
PUBLIC SCHOOL. FUNDS
BE II Enacted by the P.opl. Of IA.
state Of Colorado.
section All school funds Of the
So 80. whether permanent or Income.
email b" invested as directed h, ~.
stat" board Of land Commission.rs-
IifstElin Interest bearlnE warrants
OF iht state OF Colorado
rJi.eoaid-In bonds Of the state OF
Thirdly loans on unIneumb,r.J
cultivated lands within thr Stsr, ~
Ig!"F4id92. and in manner hereinafter
Fourth-In bonds Of school districts
within the state OF Colorado.
Fifth bonds Of the several
, ,,,5 1.tles town or city. and city
provided, however. that before am
moneys are 30 invested In bonds ~
COUNTIES, cities, town or city. ana civ
ana counties or school districts IN.
validity Of such bonds shall firs, h.,
determined by the attorney general of
'hr state. and the state board OF land
,ohn nisflon"rs must be satisfied that
ruch bonds are In all respects legal
Ahd a safe Investment: aud IL IL fuT.
ther provided, however that such
bonus or warrants shall be purchased
at pric" not to exceed par Valu.
ana IN" accrued Interest thereon
section 2 Investment by loans on
cultivated farm lands within the state
OF Colorado shall be made only 10 p.r.
ssohs VINO are actual residents on such
IN. appraised yalu. IL not less thar
'b.0o per acr. and In sums OF not TO
exceed $500 90 TO any one person.
such loans shall be made FOR at leas,
on. and not more than fiy. years.
and shall be evidenced by promissory
NOTES bearing six per cent s per
cent int.r.s, per annum, payabl.
the rate OF eight per cent - p.r
cent? per annum after maturity on
both principal and delinquent Interest.
said proml-sory notes to be secured by
deed OF trust to the public trus,..
OF the county wherein tn. land H. sit.
uhtcd. In favor OF the State OF Colo.
rndo, upon real estate as above de-
scrih.d OF an appraised value of nj,
least three times the amount OF IN.
sum borrowed.
Applications for loans on cultivated
farm lands shall be mad. direct 10 tn.
stat" board OF land commissioners
upon blank forms to be provided for
that purpose, and no loan shall ever
be made unless III. applicant has n
f-r.d as security for the loan. Upon
receipt OF the application tn. state
board OF land commissioners shall. un.
less they approx. the loan In the
ffst Instance, cause the land to be
thoroughly examined and appraised.
and n. In their judgment. the secur.
ny 10 ample and 'henppiicant In all
r.sp.c,- comes within III. term. of the
prov. tn. loan; provided. however.
that In tn" event that the loan IL
made on Irrigated lands. such require.
m.nts shall -. mad. by the board Of
land commissioners ~ shall secure 10
the stat. first lien upon all water aud
water rights for the irrigation OF said
when IN. application is approved
by the state board OF land sofnni.'
sionrrs. IN" register shall complete
IN" contract by taking n promissory
lN'hf AhA' Nff F'H'f NI
and secured by deed Of trust upon
IN. land IN manner and form as above
mentioned. and he shall forthwith
transmit the deed OF trust 90 the roun.
IS clerk ana recorder Of the proper
county for recording A. soon hH tho
deed OF trust ~ returned from the
county clerk and recorder with IN. us.
uAi certificate Of record. the register
shall transmit the note and deed Of
trust and all other securities In dusa.
ton 20 tn. stat. treasurer. who shalt
thersupon phy 10 the applicant the
amount OF money named IN said note
The state board Of land commissioners
shall In each case require from the
applicant an abstract OF title TO tn.
land. certified to include the deed Of
trust. which said abstract shall also
he deposited with the state treasurer
In connection with the note and deed
Of trust
Failure 60 pay any or all taxes when
the same are due. or failure 90 pay the
interest upon the said note In accord:
ance with the terms Of the note. shall
render the principal due nnd payable.
anything IN the note Or deed OF trust
10 the contrary, .noty ithsta nding.
When q lean has been @a1e 6aA the