The Mena weekly star., 1918-06-06
s9.Q9o-o0 be made to any purchaser ot

;ss,9s9o.oo be made to any purchaser of n, ,sSe seetion ssn.5. 5 Such loans shall not De and occupy lands mortRaQed ara shall be made for the following pur- chaseai tbD the purchase of fivesfoct, anu anu other equipment, and the making m improvements, which, In the Judgment YI sad board. will increase the pro ductivity Of such lands or add fo their value as farm home in degree to (lhhstity such expenditures. and (c) for lne satisIaetfon of incumbrances upon such lands. which. in the judRmenf off said board. were Incurred or assumed DS sala applicant for the aforesaid pur-
 Section G. Every applicant for a farm t29an snall state clearly in his applica- is desired, and upon It's approvaI hv the board this statement shall be deer1,- sn part ot the note or contract un- ger ge1r, which the loan is granted. But no failure 10 apply such funds 10 the Dur- poses stated. Inf such application Or snumerated herein shall invaIIdate A loan when once made nor shall anv- thlng herein contained be deemed 10 prevent any, farm owner from selling eumbrance; but If he shall violate his Sald contract by applying the moneys sta sg,tVweu tnh ,, R to purposes other than those herein; or if he shall lease such innGe or sell them to any person not fulfill ing the conditions and purposes pro ized and directed to require the rsnsx- ment of said loan upon six months' no contain clause providing therefor.
 iSection z such loans shall be repaid Y. w.,1 interest accruing in annual fn- htaiiments on the amortization pla4 such installments being fixed at such sums ns will cover the interest rafa ana aa h ~iil liauaidate the debt in 2 period ana the applicant. said period to be nof ,sss saarl man hve nor more than thirty-six any part or all of his indebtedness in amounts of $5000 or multfples thefe- 9f upon any amortization Daylnent
 Section s. The rate Of interest on t0ans loans da snali De i've per cent per annum; shall be sold for less than par. and Ivros rr,- Nldeu lurther that the board snail re- qnlre each applicant 10 pay an Initial ed the minimum charge to o'i,e be sipo sfo'oo to cover tho cost of appraisal anI ex animation of title.
 Section 9. All surplus funds accruins rom the operation Of the system of rural credits herein provided for. after paying interest accruing on the afore- said bonds, and all operating and other expenses arising from the adminfstra-
 hai, 5on 9I said sys' m of rural credit5. ana ann become a part of a fund to bs Known ss the Arkansas Rural Credff tsrsdi,s 9seseirye Esaa Etnna; saia Arkansas RuiaI provided for the Arkansas Rural Credit Loan Fund and the interest sc- eruing from loans made fl om said AT. kansas Rural Credits Reserve Fund snail De added to lt and become par or II. The said Arkansas Rural Credits Reserye Fund shall be irreducibie. ex- SsPi t..,P tnat it may be, drawn upon to rs- the administration of said system c: ,ssction 10. The Legislative Assem- ply shall provide m such detail as |, shall deem advisable for the carrying out and administering of the provisions or this amendment. and shall provide auequate safeguards against the use of such loans as an aid to the purchas- ing and holding of lands for the pur shall Include clear definitions of the terms operate" and "Occupv' uaed herein. In the absence of such Ieria- iation, and subject to the same after snail proceed to administer said sys- tenn or rural credits under rules and reg ulatlons provided fV itself but sui,- Ject to the provisions herein contained
 z. section II. The provisions of the 1Q3nsutlti2n of Arkansas in conflict with this amendment are hereby re- pealedy m so far only as they confifrt herewith. The provisions Of thts ainendment shall be seif-executlng ST snail take effect and be in O3eraff0n e0 days after their approval aud aJonffen by the people of Arlsnrsas.
 Approved by the Governor and filed n ths oifee Of the $ cretdry oS State. March lT, 1917.
 the above amendmen
 " itneSs HIy official Sfgnature fhts the z4th day of April 191s
 tSeail TOM J TERRAf.
 Adv.-First Pub Mas 2. 1918.
 Last. Pub Oct 31 Ia1e