The Ordway new era., 1916-10-27

PROPOSED LAW OF THE STATE
OF COLORADO. INITIATED BY
PETITION UNDER THE INITIA-
TIVE AND REFERENDUM
Notice is hereby given that at the
d.s of Se hea M D. 1879
there will be submitted to the quail
fled electors of the state Of Colorado.
for their approval or rejection ths ths
ssle~'ns Sale se pcoRISssdo hix initiated
Petition under the Initiative and
Referendum; which initiated peti,,
more than the required number. (to.
the Te' STATE ss Of colerado. He duly Verified;
in w,h the and o stase
at 4:ss O'clock. +. N.
The authority for submitting such
Article v of tho Constitution OF the
State of Colorado. providing for the
Initiative and Referendum.
A BILL FOR AN ACT IN RELATION
TO THE INVESTMENT OF THE
PUBLIC SCHOOL FUNDS.
Be IL E~aoted BY the People Of the stote
Of Colorado:
Section 1. All school funds of the
state. whether permanent or income
unless otherwise disposed Of BY law. &
state board of land commissioner
First-In interest-bearing war
second-In the bonds of the
Third-By loans on unincum-
bered cultivated farm lands with
in the state Of Colorado; ana IN
m1nns. Enn,nMTe heTelna5ss honSs oi Of School dis
tricts within the State OF Colo
Flith-1n bonds of the several
counties. cities, town or city. and
city and counties of the State OF
Colorado: provided. however. that
before any moneys are 80 inVesteu
or or city, and city and counties or
school districts. the validity OF
such bonds shall first be detee
mined by the attorney genera shnnrd Of Of
land commissioners must be ,atis-
fled that such bonds are In all re.
spects legal and saIe inyes'Ien, how'
and 1t is further provided, now
ever. that such bonds or warrants
shall be purchased at price ice not no.
to exceed par value and the ac-
crued interest thereon.
Section 2. Investment by loans on
cultivated farm lands within the stare
of Colorado shall be made only 10 per-
sons who are actual residents on such
land. and then only, only on ian mot less than
Ak M her acre and In sums of not TO
eTeeed $s,500.00 to any one person;
snch loans shall be made Tor az 1eass
one and not moro than five years. anu anu
shall be sia syidenesa psT cent s5
onnum. payable annually until que.
with interest at the rate OF eignt per
c.nt Iag,l per annum after maturity
on both principal and deiinquehhs h ~ ~
terest. said promissso,rryn ns ,rn,a no TO the public
esustaa Of the county wherein the lang
- a.it,,ated. in favor of the state OF
ro,orado. upon real estate az apovs a..
scribed Of an appraised vaLue q ~ ~
least three times tho amount u 'e
AppimIS. "a. mali be made direct to the
.sat. hoard Of land commissioners upon
bisnk forms to be providea .or tnss ~
nurpose, and no loan ~, good
made IN Shss' fee simple e the lands offered
si.'c c.cmrity FOR the loan. Upon rece'pe
tSn snplication the state board o.
Pa Ea commissionsrs shall, vniess tIey
disspprove the loan Ia n n Sss hs thoroush- @
stance, cause s tns innnorsised. lana n and il, In
~ tmdgment. the security = s smp.s
tneT snniicsnt in all respects comes
aHsehsn aHc the terms of the provisions =.
III act, they may approve .hs svsnt
provided, however. n. tnat ~ N irrissted
shsS tn .ueh Requirements ahail o msas
anen. hoard Of land commiss ,s ,1ns. . .,,,.,r
~ IN ss.s,,re 10 the state first zen gRVan Raa
~ rvstSr and water rights toE sne
LION of said landa q. .n,yovsd By
WnsSs Wissss ~ Sesf2 81 isnd eomnaiesioHsrs
sss sss tsssister shsil ecnpssts ~ SaiSsa aSaS n
sass 4 Gslsss1 ss u 5sisssS n =, g ~ Z
q Ssvst tpor the - ! 81 ~ ss'sss A.