Walker Lake bulletin. (Hawthorne, Nev.) 1883-1926, 1916-10-07

contained all estates that may eseheat to
tie state all of such per centum as may
be granted by Conc ress on the sale OF
lnds; all fines collected under the penal
laws of the state Jail property given or be-
queathed 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 solemny pledged fol ed
uea,ional purposes and shall not be trans
ferred to any other fundss for other uses;
and the interest thereon shall. from time
To time be apporiioned among the several
counties rs the legislature shall provide
by law and the leigh lature shall provide
for the sale Of floating land warrants to
cover the aforesaid lands and for the
Investment OF all proceeds derived from
any of the above mentioned sources. in
United States bonds, or the bonds of
this State, or the bonds OF other
states of The Union, or the bonds Of any
county in the State of Nevada or in loans
at n rate OF interest OF not l,ss than six
Ter cent per aunum, secured by mortgage
on agricultural lands in this state Of not
mount loaned exclusive of perishable i'm
proNements,of unexceptiona title and free,
from all encumbrances, SAID loans to be
under such iui Their restrictions and reg
ulations rs may be provided by law; pro-
vided. that the interest only OF the afore
said proceeds shall be used for education-
al purposes and any surplus interest
shall be- added to the principal sum; and
provided further, that any such portion
of said interest as may be necessary
may be appropriat d for the support of
the state university.
PROPOSAL CONSTITUTIONAL AMENDMENT
No. Q.
No. Senate Concurrent RESOLUTION,
relative To amending section three OF ar
ticle nine of the Constitution OF the State
of Nevada. Allowing increase Of bonded
Indebtedness Of State from $500, Ot0 to
per cent of assessed valuation OF STATED
Proposed and passed M the Twenty
Sixth Session of the Legislature, March
IA, 1913, Statutes OF 1913, page 5s5, agreed
To and passed mt the twenty Seventh
Session of the Legislature, February .,
1915, Statl ce OF 1915, page 5lr, md sub
iect to rat ieation by the pa,pc at the
general election of 1916.
Resolved by the Senate. The Assembly
conculring, That section three Of article
nine of the constitution of the State of
Nevada be amended SO as to read us fol-
lows;
Section 3. The state may contract pub,
lie debts, but such debts shall never in the
aggregate, exclusive OF interest, exceed
the sum % one per cent Of the assessed
liuatiOn of the state, as shown by the re-
ports OF the county assessors to the state
, o itroller. except for the purpose of de-
fraying extraordinary expenses, ns here
matter mentioned. Every such debt shall
be authorized by law for some purpose or
purposes, to be stnctly specified tn ,re-
in; and every such law shall provide for
levying an annual tax sufficient TO pay the
interest scmi-annually, and the principal
within twenty years from the Passage of
such law and shall specially appropriate
the proceeds of said taxes to the payment
of sale principal and interert; and such
appropriation shall not be repealed, nor
the taxes postponed or ninshed, unit
the principal and interest of said debts
shall have been wholly paid very con
tract for Indebtedness entered into or
assumed by or on behalf of the state, when
all its debts ana liabilities amount TO said
sum before mentioned, shall be void and
of no effect, except in eases of money Dor
rowed to repel invasion, supp, ess insur-
rection, defend the state in time of war or
il nostilties be threatened provide for the
public defense.
IN WITH ESS WHEREOF, have here
unto affixed my hand, and the seal of my
Office. at the Court House in Hawthorne,
Nevada. this S0th day OF September, 1916.
SEAL J II. WHITE
c 'unty Clerk OF Mineral County, Nevada.
-.