The Nevada County picayune., 1918-06-20

ne satisfaction of encumbrances upon uch lands, which, in the Judgment or and board. were incurred or assumed /, said applicant for the aforesaid purposes.
 a.c 6 Every applicant for a farm p1n shall state clearly in his applica- .pa the purposes for which such loan
 desired, and upon it's approval by r~ board this statement shall be deem- a pat of the note or contract under '1inh the loan Is granted. But no faurr to apply such funds to the .f2T~#f stated in such application or ..Hlar9tad herein shalt taVaIldate m wien once made. nor shall any
 a.s herr}n contained he deemed 10 Hf any farm 0wnar from seiiin5
 l~c 1o~ls -fNta.f tu su"h in-
 .. a' violate his .a'1 tHc moneys
 s4. r. ,-- as,4 vtE." than those -s- i4- h-- gE .-=-. =. sT enumerated .orDrn. or if he shall lease such lands .~ s"l fa"aa ta any of'--' not fn'hII- f' s.= I# o' Hl nHt"s pro-
 nd '.=rel. a4l1= Ba+rI .=aui hor- ! a...i q t-rct.3 10 require me rH0ay- 1"Ht of saia I1ln upon -tS moa'hs' no- Lice. and said note or contract shall sontain a clause providing therefor.
 Sac. '. Surh loans shall be repaid with interest acrruing in annual in 4tallments on the a'nortization plan. 5aeh insta ilfve being fixed at such sins AS will cover fbc interest rate lnd will if4utdate the debt in a period n be agreed on between said board s"d th" applicant sad p>riod to be t'i less than fi"" nor moro than thirty slN years but an" debtor may fiqai- 5Ata any part pr all of his indebtedness T amounts of som or multiples there I upon any amortization payment
 Sec s The rate or interest on loans t16 E" five percent per annumi pro z' ', t,li m as, 'telH Bonds shall #1l4 for lesE man par. and pro -l'eI t4fahef fAaA tne board shall r"- fHlge e"eh apalaart ta pay an Initial #a.,f=ra =nf DOT rea. of the lana gram ' the m HsmHH HHaEge tp be BIO ed 4 eaNer the cH-t=as -PpFaisal and eN- Se. tN .s 94- r8nJz aarrusHr nm tae t#zs rHr se=taru 1f fs eE.HItz 5slsz. a.a>iHed for. after #.#H H#sH=. and at# app#at5ne aHI .atla. -J=Ea H1F-.Ha a.aHu the. d Ha-t=i
 ut =at# af rut creat== oa he prae"a "a tae state Treasury =t haE#fHe a= u4ft#af fund to he =sewn az tHe aAFl<.Rz4+ Rural Credit s-eree Iunda S.tfa Arkansas Rural H~dtts Reserve Iuad shall be loaned ta farm lands i= Che manner herein ='vtded for th" Arkansas Rural = lit lsan Fund. enl the interest ae- z=a]5a aE from loans made from said Ar s+7sas Rural Credits Res rye Fund -h1li be added To II ard become part 4 it. The said Arkansas Rural Credits teserNe Fund shall bc irreduCtbie, eX- Hpt that f may b. drawn upon 10 re- .-1burse Inc State for loss incurred in he administration of said system of 'aral credits.
 See. 10 The Legislative Assembly shall provide in such detail as 1t shall iucm advisable for the carrying out md administering Of tn" provisions or this amendment. and shall provide ad eauate safeguards against the use of such loans as an aid To the purehas- iHg and holding of lands for he pur- shall include clear definitions of the ,erms "eperate. and Occupy" used herein. In the absence of such legis- 'ation. and subject to the same after its enactment the State Land Board shall proceed to administer said 9ys- tom of rural credits under rules and resula tiona provided by itself but sub lret 10 the provisions herein contained. See. II. The provisions of the Con stItution Of Arkansas in conflict with thtS amendment are hereby repealed in ~o far only aS they conflict herewith. 'Te provisions of this amendment
 9l| he -elf-executinE. and shall tako feet and he in operation 60 days af ter their approval and adoption by the people nf NFtan~3S
 Approved br the Governor and He'd in the office of the Secretary Of State. March IT 1917.
 Each elector may vote for or against the above amendmen
 Witness my official signature this the 2tth day Of April. 1918.
 [Seall TONI !. Tf.RRAL.
 Secretary of Ststs