The Springdale news. [volume] (Springdale, Ark.) 1887-1990, 1918-11-08
GrafOnOlas, Harmographs,
Pianos and Player Pianos,
Records and Needles. Come
in and hear them played.
G.. w. KEENAN,, Agent
HEWITT BUILDING
Logan's Old Stand.

the satisfaction OF eneumbranees upon
such lands, which. In the judgment Of
said board, We're incurred or assumed
b. said applicant for the aforesaid
purposes.
Sec 6. Every applicant for farm
loan shall state clearly in his applies-
ton the purposes Tor which such loan
Is desired. and upon its approval ny
the board this statement shall be deeih-
ed "A part of the note or contract uhaer
which the loan Is granted. But no
failure To apply such FUNDS 10 u1e
purposes stated in such application OF
enumerated herein shall invailaate
loan when once made, nor shaH siit
thing herein contained be desme ~. "
prevent any farm owner from seii1hs
or leasing lands subject to such IN
cumbrance; but II he shall violate ms
said contract by applying the moneys
borrowed to purposes other than mos
stated in his application or ehuhei 49,
herein. or IL he shall lease sueh is s!.1
or sell them to any person mol Iu. .'..,
ing the conditions and purposes
vided for herein, said board Is authoI
ICED and directed TO require the repa,
ment OF said loan upon six months no :,
tice, and said note or CONTRACT snA"
contain clause providing therefor.
Sec. 7. Such loans shall be rspaIa
with interest aecruing tn ahhua.
staIlments on the AMORTIZATION pian ,
such miscellaneous being liked al sueh
sums "a will cover the interest rate
and will llquidate the debt In petio peru,
To be agreed on between saia uVata
and the applicant said period 70 ue
not less than Ave nor more thah W ,t..l
six years but any debtor may ~ ~.
date any part or all OF his inasots 49,
IN amounts or 5000 or muitlples ,.,,sant
or upon any amortization Pasnhens
date.
Sec. s. The rate OF interest on lonns
shall be five per cent per annunl' R ~,
yided, that no Farm Credit Bona. sn -
be sold for less than par anu ~ -.
yided further that the board hiia, 't,taI
auire each applicant TO pay an la,,.fi
charge OF per cent OF the loan gum - "a
ed. the minimum charge TO De 49,
to cover the cost Of appraisal anu
animation OF title. ..,,t,,s,
Sec. 9. An surplus funds acefu'n =,
from the operation Of the a,tsr
rural credits herein provided io', ~.
paying interest aceruing on ths -,
aid bonds and aH operating az "a.
expenses arising from the aaiillnae
| ton of said system Of rural eten 1..,,,
| shall be placed In the State
aud become a part Of tuisa ,.ysltt
l known as the Arkansas hui a =, pnraI
Reserve Fund Said Afk r., - loaned
/ Credits Reserve Fund sbaH DC -.
| on farm lands IN the manner 49,
1rovfdsd me Arkansas Rofal
| Credit Loan Fund. and the intefss' =,
cruing from loans made from - u,,,nd
/ kansas Rural Credits hesei ss ma n
shall be added TO It and peeeiis ,s.idIt1
OF II The said Arkansas Rural ,Ieu's
Reserve Fund shall be irredncsbis, -
cent that IL may be drawn upon - a,
/ lmb,,rsa the state for loss lhcu. e" :,
/ the administration Of saia -
rural credits ,-.t.,a Assembly
Sec. 10. The Legislative as /, ~ I
! shall provide in such detal' ' a. n,,t
deem advisable Tor th ne .fs1,,isions Of
I and administering OF thF pt,.t,sisa ad.
this amendment aud shall Prov "a :,
| eotate safeguards against the -
! such loans as an ala 70 W - ,,tlr-
( ing and holding OF lands loi sasnards
poses Of speculation shSn ., 80 ~ the
shall include clear deii .ila.,,,,, used
| terms Operate" and o, taats-
herein In tie absence OF sueh estar
4 latinn ana subject to the saine % "A
it, enactment. the State LAM svs-
| shall proceed 10 administei s,1tas and
TEN or rural credits un tt,, Mi sub-
regulations provided Y ~, contained.
iect 10 the provisions heIeAia. ~ Con
Sec II The provisions q an W. with
| stftt,tfop of Arkansas IN eohuit in
this amendment are herehs sarawtth.
~ Tor onfv al they conflict hsa t,,ent
TN. provisions OF THIS aahaiI take
sfr, and he in operation 50 . aa ~ the
ter their approval and adoption y
people of Arkansas, and filed
APpro oyttte by " the the secretary OF state
March II 1917 - cor or against
Each elector may VIZ
the above amendment, .nst,,re this.
Wines my official as, sas
the e4th day OF Ap ,.l{,, : TERRAI.
| tsealI secretary Of State