Pine Bluff daily graphic., 1918-08-15

.i,s, .i,s satisfaction Ut If of enenmbr..
 saIi said ha' ,anus' which, i1 the in6cs H@css ,, io I|iL oo1ro, were incurred or shent J purposes. IAe tf0,a..% Sec. 6. Every apgjf.,u4 loan shall state cIGari,.. ,.'''-t Ut Tor t,., ton the purposes for v-t!.hl ,i! Els apaiI,' IS desired, and upon lie ,.'th saea 5, the board this statement sha aapppirovaI !, ed part of the note or ca., al,ali hs detrr which the loan is ranttnd5faet uad., failure to apply such frps n But ', purposes stated in such ana,. anads to d. enumerated herein shall ffpp'ieation |, ioah when once made. nor aIldate thlng herein contained ba sshal any. prevent any farm ownar c.. 0eemsd f, or leasing lands vubinct rom seli-, scumbrance; but if he sbo,1 Yo such in. said contract by applyinf. tI EIlo'4te h, borroWed to purposes otl'S,'he 'he fonty, stated in his application or oa1 .na1 th,s herein. or If he shall lease eiumeFatsi or sell them to any person sncA lani, ing the conditions and nl,rne not fulfl vlded Tor herein, said board ppSeS ,o pro Eeo ana oirected to require tbo ' @utho' ment or said loan upon siy ,,an yne f'pay .lce: ana said note Or contrsnt cotsaS Nc
 Cao o, ae providing tharoe...sN with interest accruinr 'i,,'' i, De rep1d stallments on the arnort annual 1 such 1nstallments being faaion pIaM sums as will cover the it int.a at sp,i and will liuuidate the 5ieht i, est ras to be agreed ou between .a aa!, J perbi and the applicant. said nes;a, sala b0aH not less than five nor moro {ol 10 6. SIX years: but any dnhtor ',an ,,1 lhry. date any part or all of his i,dntS. ,niS lql. m amounts of S50.00 or multirlaleahHs of upon any amortizato,np p'ss thets. date. "' 'ioh paymea
 Sec. 8. The rate of intera.4
 shall be five per cent Der ann ,,r on loaa v1ded, that no Farm Credit B,,,atii Bnnali pf' be sold for less than Dar. 'Vnu, nus shsl Tlded further that the board %,a sha, pfo' qulre each applicant to pay an ,,'t,l ia.l', fF, ciaTEe or ! per cent of the loan g.a1s ,...N' ca, the minimum charge to 'l,e bs Srari, ,'1t, animation of title. '''' ana eS'
 Sec. 9. All surplus +u,a,
 from the operation of inc s,s.s a.vfuhs rural credits herein provided 'fs.em tos 0' paying interest accruine on tba to'' slle' said bonds, and all operating am and a,ofe' aeS expenses arising from the admtri,.aIA ,.IA ton Of said system of rural ,nsa' erss, shall be placed in the State Trs,snaSs nsss,S and become part of fund d'a'uy z. known as the "Arltansas Pnr,l P.I co. to .. Reserve Fund" Said Arlansss 1sss; pssl; Credits Reserve Fund shall ha ,a. nuai on farm lands in the msnnar ivaaa hs.. provided for the Arksnsos Ieae1 pat Credit Loan Fund and the intaros. "4,a crulng from loans made from said s t. kansas Rural Credits Reserve ta'I rnA, a', shall be added to it and become n,s rns of 1t. The said Arkansas Rural esaa,. rr.. Reserve Fund shall be irreducibs '4' .r cept that it may be drawn upon to va lmeurse the State for loss incurred i, | the administration of said system .. rural credits. '"
 Sec. 10 The Legislative Asssms, shall provide in such detail as t'sf1 if sbai : deem advisable for the carrvnv or. and administering of the provisions 4, this amendment and shall provide ,d equate safeguards against the use 4 such loans as an aid to the nprcb. ing and holding of lands for the nw. poses of speculation. Such safegara, ehall include clear definitions of fl. terms Operate" and "occupyn usd herein. In the absence of such Ieg, lation, end subject to the same af, it's enactment. the State Land Boasd snail proceed to administer said S,. tenn of rural credits under rules si regulations provided by itself, but yY,. ject to the provisions herein contansi
 Sec. Il. The provisions of the Con. stitution of Arkansas in conflict win t!lis amendment are hereby repealed !. 70 far only as they conflict herewith The provisions of this amendmen. shall be self-executirg, and shall taM fleet and be in operation so days s,. ter their approval and adoption by t, people of Arkansas
 Approved by the Governor and AlA in the office of the Secretary of Sah March IT. 1917.
 Each elector may vote fer or agana
 he above amendment
 Witness my offici3i signature thA
 he 24th day of April. 1918.
 CSeal] TOM ]. TERRAL
 Cs,> If Saa