The Mena weekly star., 1918-09-26
TOR AMTNpMkNT No IS ANAlNST AMENnMEsNI M

| f>tAfnANafHAheANt gNtA it
 |
 ne tt Resolved hs sAe me=.e ss ases.
 ss.ss ssss'smsss "s ana sAs senate q s1'
 That ihe fciicwins is fss hereby orc.
 Sass Sscn ~s Of sn shs s'ssnss9 sssss sg sns censs
 .he same being euhfnttted so the eiecs ters of the State fer approval or r@. Senators and Repreae nt tativea' if n ma | l9rlty or the electors vetinR at such election adent such aFnendlnent the ssituticn of the state pf Arkansas te.
 section 1. Netwlthstapdlng the lin, ] itation contained In Section l of Arti4 cie le of the ConstlsUtiep the credit ot the state may be loaned and indeht- sseans @S to sena s9 sg ss nss valuation or all property n the state Ter, the purpoee ot providing funds lands within the State. euhieot to Inc
 hm,,ai,lons sss,,nn hezzSs,n sontainsd' - shail. constitute the State Land Land Hsapa, .Sns which board ls hereby authorized and SSrsSs'G SoSSs n iP es lssSs nsm. sna f ,Ss se ess 1 | ..s:.as,s !, sa .ssssas. aes .s ssssss @ or aii the property in the state and Vo tS | place the proceeds in the state Treas- Sry in . fund tq be known as tho .'Ar- II @@-ttAF@tE
 l Section 2. Said bonds shan De issued ' n denominations of t2b.O0. siop. 0o. ,,o@ ssoS % ,, and o6N and shan bs s ] thereor drawn Co mature in not more than thirtysslx years, nor phali aaid ssnS 9s be psrSssrs ssls Sns sSs rsm ins sioeoO.o9 have been fiied wlth ani approved by the state Land r,oagd | rate. Of four per cent per annum' and I shall be exempt from taxation hv the state of ArkanHaa, or any of it's sub
 seeiien L Said state Land Board is | authorized and directed tn loan the moneNN m said Arkanaaa Rural Creditn farm. lands in Arkansaa upon notes aas | cured by. morinaRea or deede of trust i9nsss'Huas isnss' n nrst nS1Is Ish on sYen farm ceed seventy 'fye ree cent of tke ep. praisod value os nueh lands The cred
 it Of the state Rhal1 not be loaned ta 1 any peraon to purthare more than so acres of land. nor land valued pt more
 .haq sso'9S per .sSg .sSge oo Nor ahall 2 l,es ya.Oqo,oo be made to any purchaser 1, Section g. Such loans shall not he made. except. to owners who aoeefsts' ! and occupy" lands mortRaEed, hnf shall De made for the fqllowlnk ruf rhAsedt tbl tho purchase of livesleeh and other enninment, ana the makins impreyepents which, n inc Judgment M value ss farm hupie n a degree tc
 ssstss ss sYen ssnepd,i.nts ,n,l,, ana sel & Tor said board were lnrptred pr assumed by said applicant Tor the aforesaid purs | Section c Every applicant for fern lYan shail state cieafis n hts sprlies. Is desired, end upon iis approvei by the board thIs .gtatemert shsii be deem. sd a esst ef she not. or eensrset uu.
 siars ,o spps @ s"eE unas is the 's ss,s se
 poses steted h such application uf issn insmsrs.sd wsss ans herein .s sssll IavsilA.
 ihIns herein .conisinsd be bs deemed ie l prevent. any farm swp=F sfsfss sssi.ss eu,pbrance. but if hs ahaii violate his said contraet " spplyine the fnansys bprrowsd e rurpoAee other than those hersin er if he abaii lease such ispds gr sell them to any person not fuiHll-
 vlaed fer eggepi,ons gsaain ss,a "h hsssa pnTggss s
 ised and directed fe reuulfe thH ' spa fs ,tpqeent of sal9 loat, upon sls inonths' ng. contain clause providing thefefar
 Section I Eueh loans shall De rspsia
 wit9 interest agctulne n annual in- such installmenis beine fixed at such sums as wiiI cover the Interest rsts and s " wiil n.d lagdIds,s .. lhs ashi n i,sssisa and tbe applicant. said psflod te be noi less than i've nor more than thirty. sis auiounts ef s5b.6o or fauitipies fhet q, q upon any amortization vayinsnt
 Section 8 The rate of interest on loans fhall he five per cent rel annufn e,, nFo,X,iRsa thsi .t ne FstH, ersdi Bonds | videa further that the b6afd snail fes upifs eafn applirant t9 rag ah lnltial to cover the cost of abprelsui an1 srs amlnatlon Of tItle
 from the. .gperafiqn of shs system. el .srs. credits nstsln sdn, IT gyiasd Ter gftsf said bonds, and all operating and ethsr | expenses atlsine from Lhe ad1ninistfa- ton. sf said syss =fn ef rural credits
 ns ana become @ est m st ssa' isha sifsa is bs known as the .a.Atkapsas fluf'asi Credit HesssLve Fund. said Ark.ansas ftu, T en farm lands Ip the nannef hersia nrsall '. Lga,. y. Eund and ' tiis 2 lntsrs.ssg
 kaalsas HyEal CrAdits Reserve Fund shsll bg added tg t atId beeofne z hsrt gt M Ihs ssld sAs Ashassas s nsei sai,s espf inst t fnsy bs Sfawn spes te rs
 lyibufss ths State for loss Incurred h the adni1istraflen Of said systafn | ssttion YS The Legislative Asesu ply shall efoYida fh ssfeh dstaft es ff shah 1Sem sdyfss6ls for fts eaff gtre out and aaninisteffne 5f tie Efevlsfahs of this sHsrdfasnE and shall provide adequate safsgusfds aKHfnst the ues Of 4 Such loans ss Aa eid to the pufchasA ing and ho1dinR cf lands for the pHt l pcSes cf speculation Sueh safeEHsfds shAB include clear dednftlpns ef tha tAfms opsfate and "6ecups used herein. h tbe absence If steh iekis- ] laLIen. and subject ko ths ssmH .aftef | US eHacknenF, the state fr7nff ruxf q | shall proceed t0 administer said sys [ tenn nf rural credits under rules and | fegalaffons provided fv itself. bat aat | feet 10 the prov isions herein contained I Section H. The provisions of thA CeRstEfltion of Arkansus ia nHlcf wit1 .this nrnendlnent sFe. hersby fs 1 peaied. in so far only as they conflict herewith The provisions 0f 3nia amepdmenf shall be self execntfng sfs4 shall take effect and ee 70 opera fssn 70 l by the people OF AfEEH8kS
 Approved by tha HHYkfnd4 ana nF&4 l in tAt cfacS of he stefetafv sf State 1 Each cfector mav vote for or aaxfnkf fthe above n<nen4Henk
 f Hifneaa naf 8tiseia7 alenafure thir the z4tlz day of AnflI t9Is:
 fseaia T9M IERRaI; X.