The spectator., 1918-08-02

tn. satisfaction Of ~n1u5r- o.', such lands, winch ., said ho1rd. were tucurT
 by Sa.1 applicant fur ir
 See. o. Every alpnnau
 loan shall state clearly in bls .pp.-a~ ton the purposes for which such loan i4 desrel. and upon .ts approval by th e board this stato-'"nt shall hc deem. a par. tf 2ae nes' "r contract rndes which the loan !s grpn.2d. i>AS ~S iI'}Grs tp apply sUcH funds to Ns purposes stated in such aprii .o7 % "n2ncrateh herein shall ipYalidats oan when once made. nor shall any fHi'~ rasein contained be de~med 'o ". r-. any farm owner from selling
 ..Hsla- lands subject 10 such iH- cumb. aaec; put if he shall violate h'@ said contract hE applying trN ~1oncr" aorro wed to purposes other han ts"ss .,a'cj q h.a atv cation ur enulnerAt.d herein CT tt he shall tease such is1.is or sell t5nw f@ any person not futn'i- ing the conditions and purposes pro- i1ad and directed to require the repsy" r"ont of said loan upon six month. no- 't-~ and said rofe or contract ShnH -atatn clause providing therefor.
 Sac Suoh loans snail he r"HR '! with interest a,ornirg Tn annual ir- e,atmea'- on ne amortization plnn. -,eh insta'ifrt1tS aei0- 0Eed at sr"N ms ss '.l cove. 'oe interest 'r9'.,
 
 .' be sgreeG o5 petaeen satd ho. 1 .9i the applicant said pcriod !" less Than five rar more tisan thi i.ti- K years. hut my dehtoI ray H .ui. late any par 3r all Of his lrdchj"aa"-s n amounts of $J9 co e multiples th,f.- f upon my amortization payu.aat cate
 Sec. 8. The rnte of interest on tears hall be five per cent per annurn; pro- id@d. that no Farm Credit Bonds sha' 'e sold for less than par; and pro- ldad further that the board shah TO- 'lire each applicant to pay "n in!ti"l GarGe Of Der cent of the loan gran d, the m nimum charge to be tlo."0 TO cover the cost Of appraisal and sx- animation of ti.ie
 Sec. All surplus funds eccruins rom the opera ton of the system o. ~ural credits herein provided for. after aying interest accruing on the arore- i'd Hauds, and alI operating and other Npensea arising from the adroinistra- ion Of said system of rural credits, eall be placed in the State Tres,u"Y end become . part of fund te ho Eno1n AS the Arkansas Rural Credit Reserve Fund" Said Arkansal Rural redits Reserve Fund shall hs loaned 2h farm lands in the manner hsrsin provided for the Arkanss. Rural Credit Loan Fund and the interest as- 'rutng from loans made from said Ar Hansss Rural Credits Reserve Fund shall be added to 1t and become . part a; tt. The said Arkansas Rural CYeAAts Reserve Fund shall be irreducible. ex- apt that it may be drawn upon ts ve- nburse the State for loss inc urrol in he administration of said systsn of ursI credits.
 Sec. To The Legislative Assembly nall provide in such detail as it shali Ieem advisable for the carrying out -n4 admaisteria of the provisions of is amendment. and shall prov ide ad- uate safeguards against the use of I"n lonps es sD sid tO the purchas- +g and soldis@ of lands for the pur- qcs of speculation. such aafeguarda all include e5,ar dennttons Of the a1s "aperst. and occupy" uaef rein. In the absence Of such lssiS- rtun aua ~vhfyrt to the ss,os ar.r- .- enactue.t# ths state l.9Hd tSo.:A all proceed f. a#iaf'etst,, sid svs. m or a"t4l ,rs-tt> uHta, p4iss ard rula'lt pl #et'"#7 @y t.r't. h,t >uL. "t ta tEa be fa- hF~-tu enr'stn~t:. 5er II IT. #0#-io1- ,f ne Cat.. #4ttou af 4Eb..as .5 ,ouSt., vt;t is anendmeaf ..a t=r.rhy repnal.d 'i
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