The evening herald. (Klamath Falls, Or.) 1906-1942, 1921-06-06

The Soldier Bonus bill (302X Yes
on the ballot reads as follows:
Section 1. Notwithstanding the
limitations contained in section Z. OF
article IL of the constitution, the
credit Of the state Of Oregon may bt
loaned and Indebtedness incurred &c
an amount not exceeding three pei
cent OF the assessed valuation OF all
the property in the state, for the
purpose Of creating a fund to be loan
ed or to be paid to residents Of the
state OF Oregon who served in the
army, navy, or marine corps Of the
United States between April 6, 1917.
and November IL, 1918, and were
honorably discharged from service.
which fund shall be known as the
world war veterans state aid fund"
Bonds Of the state Of Oregon con-
tanning direct promise on behalf OF
the state TO pay the face value there
Of with interest therein provided for,
may be issued to an amount author
ized in section hereof for the pur-
pose OF creating said world war vet
eran's state aid fund. Said bonds
shall be a direct obligation of the
state and shall be In such form and
shall run for such periods OF time
and bear such rates OF interest as
shall be provided for by statute. No
person shall be eligible to receive
money from said fund except the fol-
lowing:
Any male or female who was en-
listed, inducted, warranted, or com
missioned after June 3, 1915, and
who has served honorably in active
duty in the army, navy, or marine
service OF the United States az any
time between the sixth day OF April,
1917. and the eleventh day OF Novem-
Der, 1918, and who at the time OF
entering into such service was res
ident OF the state of Oregon and who
has been honorably separated or dis
charged from said service or has been
furloughed into a reserve. shall be
entitled TO receive from the proceeds
of such bonds as a cash bonus the
sum OF $40 for each month or major
fraction thereof that such person was
in active service between the sixth
day OF April, 1917, and the eleventh
day OF November. 1919, not exceed
ing a total OF $500, or shall be enti-
tied to borrow from said funds not 10
exceed $4,000, (the legislature fixed
by enactment the maximum amount
possible to borrow at $4,000 which
loan shall be secured by a mortgage
upon real estate in an amount not
exceeding 10 per cent of the apprais-
ed value OF said real estate, but
which loan may be reduced by stat
ute. The legislative assembly may
provide that the bonus to which any
deceased person would have been en-
titled hereunder, had he or she lived,
shall be paid TO any relative Of such |
deceased person.
Section 2. There shall be levied |
each year, at the same time and in
he same manner that other taxes are
evied, a tax upon all property in
he state of Oregon, not exempt from
axation, not to exceed two mills on
zach dollar valuation (the legisla-
ure has fixed the maximum assess
nent at one milD to provide for the
payment of principal and interest of
he bonds authorized to be issued by
his amendment. The two mills addi-
ional tax herein provided for Is
hereby specifically authorized and
hall not be computed as part o,
he revenue raised by taxation which
S subject to the Limitation of section
II, article IL of the constitution OF