Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1920-07-27

nations of the Bank of North Dakota
and other state institutions.
A law giving counties. cities, vii
lagos. townships and school districts
through local banks If they SO desire.
Leaves it compulsory o@deposit all
moneys belonging to all state institu-
tons n the state proper In the Bank
Of North Dakota.
A law ordering the Bank of North
Dakota to not make loans on land ex-
cept to actual farmers residing in
North Dakota.
A law that will permit the publica-
ton of private legal notices in local
papers, all county legal notices and
other official publications Of all kinds
to continue to be published in the
county ofticial paper as at present:
A law placing all strictly education
al matters under the direct supervi-
instruction, taking these powers from
the board of administration.
Amending Section 800.
The proposed law providing for ex-
animation Of the Bank Of North Da-
kota and other state institutions Is in
the nature Of an amendment to Sec
1918. The law proposed follows.
tion 800 of the Compiled Laws of
Section 369-(Members of Board)
There is hereby created a board of
auditors for the state Of North Da-
kota which shall consist of the Sec
rotary of state, the state auditor, and
the attorney general, whose duty it
shall he to examine and audit the
accounts. books and vouchers of the
state treasurer, and of the Bank of
North Dakota, and of all other indus
trial Institutions Of the state, and to
take an account and ascertain the
amount OF funds in, the state. treas
ury or belonging to the state, and to
tak an account and ascertain the as
sets ard liabilities of the Bank of
trial institutions of the state, at
lease twice in each year without
previous notice to the treasurer, or
to the officials If said state institu-
tions and mako report thereof. and
of their acts and dcings in the prem
Uses, TO tine governor, and make the
same public, and also to witness and
accounts, books, vouchers and funds
by any outgoing treasurer, or bank
manager, or manager of any indus
trial institution. to his successor in
Office. and report the same to the
governor, and the failure or neglect of
the aforesaid board of auditors, or
any member thereof. to do and per-
AO4 III any VI lllC aus al LIE I1illSs VI
times, and in the in this Sec
ton provided for, shall constitute and
be mtsdemeanor in Office. The board
is authorized and empowered to en-
play such expert accountants as it
may deem necessary to carry out the
provisions of this section"
The board Of auditors is indepen-
dent of the state auditing board: The
duties of which are entirely differ
ent and have to do particularly with
the auditing of accounts filed for Jay
nent by the several departments Of
state.
Change In Bank Law.
To accomplish a change in. the
Bank of North Dakota law which
; will restore to political subdivisions
of the state the authority to handle
their funds without state interior
ence, an amendment to section Z Of
the bank law is contemplated. The
amendment proposed follows:
Section I. All state funds, and
funds of all state penal, educational
and industrial institutions shall be,
by the persons having control of such
funds, deposited in the Bank Of North
Dakota"
AS originally passed by the legis-
lature, and approved by the people in
1919. this section Of the bank law
makes it compulsory for. t~reasurers of
school districts. cities, towns, vii
ages, counties, etc. to deposit public
funds in the state bank. on pain Of
being sentenced to prison If they fail
Against NONRESIDENT Land specula-
tlon.
The third proposed law contem-
plates that the State, Of North Da-
kota shall not use it's credit for loans
to nonresident land spectators, and
is initiated as a result of operations
by the Bank Of North Dakota under
its present management. The bank
has extended tremendous credits to
nonresident land spectators, while
actual on-the-land farmers were de-
MED loans. The proposed Law fol-,
lows:
Section /. The Bank of North Da-
kota shall make real estate loans only
to actual farmers who are residents
Of this state"
Newspaper Law Out.
BY the provisions of the fourth
proposed law, persons obliged to pub
fish legal notices In such matters as
mortgage foreclosures, probate pro-
ceedtngs, bank statements. etc. would
the county official paper. They would.
be authorized to publish them in any
legal newspaper. County official no-
tices, and notices OF any official nature
by cities. towns, etc, would still be
SUBJECT to the county official paper
law. The proposed measure u an:
amendment to the Newspaper graft
law passed In 1913, and> = i fol-
lows:
chaptr 1s7 u the Laws q tAs STATE
Of North Dakota for tho yeAr 1913 ~
amended and re-enacted to read q
follows:
Section 6.-(DeAninE duties Of
such Official newspaper. "a snch Of.
tofAl neWbDA1ra q s11aAll&h 10 .eho0n ~,
the vp&nrD IN ~ asRufy f4neAtn.