La Junta tribune., 1916-10-14

IL may be done in manner as the loah
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 tue pr'or
to the original loan. nor new Ssed d.sd oi
OF trust is to be given upon otner
lands. The time OF payment. wtnout
further security. may be extendea IN
inal security was recorded. and beIore
maturity of the claim. when the state
board OF land commissioners shRii 80
order. but such extension OF time
shall not operate to release am. Sc
curity held. and lapse OF time SHAH ~
no case be a bar to any action 70 re-
cover any part of the school or otner
permanent fund no loaned. nor shall II
prevent the Introduction Of evidence
In such action. any provision OF the
law to the contrary notwithstahuihe
All payments Of either principal OF
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 win
"A certificate showing the amount ana
the purpose for which the payment u
made, and the treasurer shall forthwith
| indorse upon the note In proper torn
I the payment SO made, and when tne
debt is fully paid, the treasurer shaii
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 commis.
sioners, the register OF the said poaru
shall execute and deliver request
for the release OF such deed OF trust
and return the note. abstract ana
other securities to the debtor ana re.
port the same to the state board OF
land commissioners NJ It's next meet
! ing. which report shall be carried IN
to the records of the board.
The register OF the state board OF
/ land commissioners shall also keep IN
/ his office. in books to be provided Tor
1 that purpose. accounts to he known az
Permanent Fund Accounts in which
a memorandum OF all notes. mort
cages, deeds of trust. bonds, money
and assets OF every kind and des-
/ cription which may come into ms
hands as such regicter and separate
accounts OF principal and interest
must be kept
When outstanding notes for money
| OF any permanent fund loaned or M
tcrest thereon become due, the register
OF the state board of land commission
crs shall, by mail, at once notlty tne
debtor to make payment thereof with
Z in thirty days, II such debtor shall neg
I loct to comply with such notice the
Z register OF the state board OF iahh
commissioners shall report the same
to the attorney general. who snhli
imm cdiately bring action by iofe-
closure or such other procedure as
may b. necessary and appropriate 70
recover the same, and an injunction
may Issue without bond and recover
| be appointed for cause. when so
prayed.
Foreclosure Of lands under deeds
OF trust given to the state In accord
Hnce with the foregoing provisiohs;
shall be upon the same terms anu
conditions. except as herein otherwise
| provided as are prescribed by law Tor
! the foreclosure of ordinary deeds OF
trust to the PUBLIC trustee ana the
state board OF land commissioners
any officer or representative of that
hav. the right to bid In, ~ bchait
board, or the attorney general or any
representative OF the attorney s.nera,;
shall have the right to bid IN IN pcnaI'
OF the state, said lands AZ such lore
| closur. sale. and the same shall pc
/ subject to redemption in the SANE
manner and under like conditions ar
are lands sold under deeds OF trust
| in the ordinary course OF business
! In IN. event that such lands shall ne
bid In In behalf OF the state as aiors-
shall b. executed by the public trustee
to In. State OF Colorado ana such
! land shall thereafter be under IN. con-
troll aud direction of the state noaim
OF land commissioners. subject TO All
Z terms and conditions which now or
hereafter may apply by law 10 pun'
/ i'm, such lands shall not constitute y
nsrt of the public school land. but
sEall be treated and considered 's i'
manner hereinafter mentioned
As soon as the deed from the pub
tru.Ies shall issue to the state ih'
same shall be placed on record ~ we
urop.r county and the state board "i
/ land mmiSrtoners fhAh ,"IhiN
! facts to tn. state board OF equal At
tiou. or such other offlc"r' bohI" "'
bureau ~ may hereinafter haN' ~
thorIty 90 make leyics In hehalt OF Wv
state. giving the amount que uI",
saId loan to the school fund, eN,'pl
that interest for this purpose rhhl ~,
charged solely at the rate OF siN l,'
cent. 90 per cent? pc said ahhum nn,e "i 10.
r.ther with all taxes due on salh lN.,N
~ hereinafter provided ana IN, 80
board Of equalization or such o'h'l
pc.r board or bureau as may h'f''l
ter haV. authority TO make l.Nl'H J.
behalf Of I'll. state, shall AZ the h,Ns
meeting where the levy OF taNes w
stat. purposes ls made, inciun. W -,
levy tax upon all taxable ptowll y
within the state. OF suffirlcnt ah".H
to reimburse the school funh ioi W.
amount OF said loan. prino'pa,' inbrr|
collected, shall be by the state ttcAs
urer, credited to the state school luh"
All lands SO sold under foreclosur-
and conveyed to the state ny VIII
of such foreclosure by the p1nM
,ru,,s. OF the county where the lHnI
IL situated. shall be carried upon .
separnt. list properly deslpnat"u us
the state board OF lnna spn sold by
IN. stat. board of land comtnlrNl"N
ers all moneys received Tor thc pI,
chase OF such land. shall be pnlI n
...
commissioners TO the treasurer OF ~
stat. of Colorado. and crcditrd I" WV
general fund OF said STATE. ~
though the amount of said pufch.n
price IL In excess Of or less thhh w
amount Of IN. original loan. toE''h'r
ith IN. interest thereon.
In the event that foreclosure h'
comes necessary. the stat" poatu 'l
land commissioners or tn. httoln,'
general shall have the right TO WIN
draw from the custody OF the F'aIti
urer OF IN. stat. OF Colorado nl
papers. Including the note, d"rh %.
trus, and abstract OF title BELONGING
TO said loan. giving to the treasurer
receipt therefor.
All expenses OF npprnirement nhh
examination OF the land. the eNhmlh
alton Of title. the recording OF the d''a
Of trust and any other expense. noc,H
,ary for making said loan. shAll nrl
paid by theappiicant and the sn,'
hoard of land commissioners mRb;
from time 90 time. roaulrc OF hha
applicant. such d.post Rr may "'
necessary 20 d-fray said expenses
The stat. board Of land commission,
rfs, mag at Its discretion. require ihr
-. L. made 10