The Springdale news., 1918-05-24
Piles Cured In 6 to IA Days

Your druggist will refund money If PAZ0 OINTMENT fails to cure any case of Itching Blind Bleeding or protfudiug Piles in to i4 days The hrst application gives Ease and Rest. soc. ->@~~~c~~~~~~~~-o~~~~~-~ -~~~~-~~~~~~-~~~~~~~-~~~- Bonds in al amount not To exceed two per cent Of the assessed valuation of all the property in the State and to place the proceeds in the State Treasury in a fund to be known as the Arkansas Rural Credits Loan Fund
 Sec 3. Said bonds shall be issued in denominations of S25 co sI0O OO $500 % and .l. GOO co and shall be isi sued in series of sl00000 % or multi pies thereof, drawn to mature in not more than thirty-siX years nor shall said bonds be sold until applications from bona fde purchasers of land az gregatine ti0.000 GO have been filed with and approved by the State Land Board Said bonds shall bear interest at the rate of four per cent per an mum and shall be exempt from tax ation by the State of Arkansas. or any of it's subdivisions
 Sec. Said State Land Board is au- thorized and directed to loan the mon eys in said Arkansas Rural Credits Loan Fund 70 bona fde purchasers of farm lands in Arkansas. upon notes se- cured by mortgages or deeds of trust constituting first liens on such farm lands in amounts which shall not ex- eeed seventy five per cent of the an
 
 fl of the State shall not be loaned to any person to purchase mere than so acres of land. nor land valued at more than $50 co per acre Nor shall a loan ef less than s2A0n0 nor more than B. 00o DO be made to any purchaser of land
 Sec ,. Such loans shall not be made except to owners who operate" and occupy lands mortgaged and shall be made for the following purposes: fal The payment for lands purchased: GbA the purchase of live stock and oth- er equipment and the making of Inn provements which. in the judgment of said board will increase the produe-= tivitY of such lands or add to their value a farm home in a degree to justify such expenditure. and (e) for the satisfaction of encumbrances upon such lands. which. in the Judgment of said board, were incurred or assumed by said applicant for the aforesaid purposes.
 See. 6. Every applicant for a farm loan shall state clearly In his appltea- ton the purposes for which such loan is desired and upon it's approval by the board this statement shall be deem ed part Of the note or contract under which the loan is granted. But no failure to apply such funds to the purposes stated in such application or enumerated herein shall inyalidate loan when once made, nor shall any thing herein contained be deemed to prevent any farm owner from selling or leasing lands subject 10 such in eumbrance; but if he shall violate his said contract by applying the moneys borrowed to purposes other than those stated in his application or enumerated herein. or if he shall lease such lands or sell them to any person not fulfill Ing the conditions and purposes pro- vlded for herein. said board IS author ized and directed to require the repay ment of said loan upon six months mo- tce. aud said note or contract shall contain clause providing therefor.
 Sec. '. Such loans shall be repaid with interest accruing in annual in- stallments on the amortization plan. such installments being fixed at such sums as will cover the interest rate and will liquidate the debt in a period 10 be agreed on between said board and the applicant said period to be not less than five nor more than thirty six years; but any debtor may liqui- date any part or all Of his indebtedness in amounts of $50.60 or multiples there of upon any amortization payment date.
 Sec. 8. The rate of interest on loans shall be five per cent per annum; pro- vided. that no Farm Credit Bonds shall be sold for less than par: and pro- vfded further that the board shall re- quire each applicant to pay an initial charge Of 1 per cent Of the loan grant ed. the minimum charge to be 5000 to an,inH,inn fovef the eAsf Of appraisal and eA
 Sec. Q All surplus funds accruing from the operation of the system Of rural credits herein provided for. after paying interest accruing on the afoTe- said bonds. and all operating and other expenses arising from the administra- tfon of said system of rural credits. shall be placed in the State Treasury and become part Of x fund to be known as the Arkansas Rural Credit T IsVFg Credits Reserve Fund shall be loaned on farm lands in the nanner herein provided for the Arkansas Rural Credit Loan Fund. and the interest ac- cruing from loans made from said Ar kansas Rural Credits Reserve Fund shall be added 10 it and become part of if. The said Arkansas Rural Credits Reserve Fund shall be irreducible. ex- cept that it may be drawn upon to re- imburse the State for loss incurred in the administration of said system Of rural credits
 Sec. 10 The Legislative Assembly shall provide in such detail IS it shall deem advisable for the carrying out and administering of the provisions or this amendment, and shall provide ad- equate safeguards against the use Of such loans as an aid to the pnrchas- ing and holding of lands for the pur- shall include clear definitions of the terms Operate" and occupy" used herein. In the absence Of such legis- lation, and subject to the same after it's enactment. the State Land Board shall proceed 10 administer said sys- tenn Of rural credits under rules and regulations provided by itself. but sub ject to the provisions herein contained.
 See. II. The provisions of the Con stitution of Arkansas in conflict with this amendment are hereby repealed. in so far only as they conflict herewith. The provisions of this amendment shall be self-exeeuting, and shall take effect and be in operation 61 days af- ter their approval and adoption by the people of Arkansas.
 Approved by the Governor, and filed in the office of the Secretary of State. March IT. 1917.
 Each elector may vote for or against the above amendment.
 Witness my official signature this the 24th day of April. 1918.
 ISaall TOM ]. TERRAL.
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