Pine Bluff daily graphic., 1918-08-08

fhs satisfaction of enora, so;d suGa lanas. which, in the iaee' indsee' r, pau hx .a:d Doaro. were incurred oorusment or nurnoses - pSi'cant for the .stssuns Sec. 6. Every applicant f..
 @ tion ths ai1 n,,ra state clearly in his tas i. doa;s purposes for which sppics t tS ueslrea, @ and upon it's annsh such loa, a sae ooaro tnls statement sbaiip aGiiphto'a t5 ,xh;oh +s oi lne note or contr.o. assns ss;1',n. wilcn tne loan is granted antd'Sel uais n,,rua .uae 'o apply such funds hut h snumeratsd iaiea h In such appliea,%, Il. tb;n . "nsn once made. nor shsuuss ors nraMs,t 1eleln contained De dssM ssl. ahg. or ,lsa s;na @ .alrh owner from .sa o,, o ,n ,eas,ns lands subject to ' su.s ssli, ss;1 % aants ant put IT he shall yioisa irIsa h. hard hs,,u Gon,ract s ny applying the fOisls a ii stated in his application or laan tho. herein. or If he shall lasso en'lmerstA o1 sell them to any p.. '',', sueA laa, ing the corditiors ana ,, n' nc, fuia. v1ded for herein. said hoar, '.,Ses ,, pIe ized and directed to reomiro io !. IS autic. ment of said loan upon siv n,a .ne repay tice, and said note CT c,,r'.thS nohthS st. contain a clause prov idins ',la'l th shal
 Sec. z. Such loans hi shai, 'hhereor with interest accruing in ,n ne repsl sta!lments on the amortiza.,!Hual aiIHual ia. such 1nstallments being ayed at'oh paa sums as will cover the ints.al a al sNs ana Will llQuidate the debt tn sA F. to De agreed on between ,s. {. is s p,'fiA ana the applicant, said ner;aa ra'a poat not less than five nor more .ou tb.n 10 e SIX years; but any debtor r"m n,a. HFiy: date any part or all of his indah,. aIy HFI in amounts of $50.00 or multir,a ,solfsn.i or upon any amortizationp p'es ns lhtls date. ''on payms.
 Sec. 8. The rate of interes+,
 shall be five per cent per annnn vn loaH! vfded. that no Farm Credit puin' po.n p'N be sold for less than nar. o'"us nus sha Vided further that the board sha shanp pf qu1re each applicant to pav oa ,'all ft charge of 1 per cent of the 1oon an mllN ed. the minimum charge to 'I. ha sMsals M to cover the cost of apprais,, De a'" animation of title. a0l g.
 Sec. 9. All surplus funds .o..., from the operation of the .vs.su r..ulR rural credits herein provided for ss'a U. paying interest accruing on tbs o'' ,s slls said bonds. and all operating am and a'ule' av expenses arising from the adr,,ri,,nas u,ns tion of said system of rural i",sas ..su shall be placed in the State TrasaA .ssalA and become part of fund I'ssOI .s known as the Arkansas Rural r,.s % ~ reserve Fund" Said Arkan.a, puui Credits Reserve Fund shall he ,r,.. ,,'a on farm lands in the manner h hs,., provided for the Arkansas J,n,. pusI Creait Loan Fund. and the interest a cfulng rom loans made from said 1, Kansas Rural Credits Reserve pm, snail De added to it and become S,s Of 1t. The said Arkansas Rural crsn sIn Reserve Fund shall be irreducible s. cept that 1t may be drawn upon to m. imburse the State for loss incurred RI the administration of said system @I rural credits.
 Sec. 10. The Legislative AssemAb shall provide fl such detail as jt'i,'T if sss deem advisable for the carrying ml and administering of the provisions S this amendment and shall provide ,i equate safeguards against the use aI such loans as an aid to the purchs. ing and holding of lands for the u, poses of speculation. Such safepua,M shall include clear definitions of ti, terms operate" and occupy" uM herein. In the absence of such lers lation. and subject to the same aits it's enactment. the State Land Bosd shall proceed to administer said s. tenn of rural credits under rules sh regulations provided by itself, but sub ject to the provisions herein contalnd
 Sec. Il. Tine provisions of the Con stitution of Arkansas in conflict wIl his amendment arc hereby repealed Il 70 far only as they conflict herewith The provisions of this amendma shall be self-executing, and, shall tsh effect and be in operation 60 days d. ter their approval and adoption by th people of Arkansas.
 Approved by the Governor. and tlaI in the office of the Secretary of ShA | March IT. 1917.
 Each elector may vote for or agalaa Inc above amendment
 Witness my official signature hA
 he 24th day of April. 1918.
 lSeal1 TOM J. TERRAL