The Bozeman courier., 1924-08-06
PAGE ELEVEN

/
I be provided by Law.
Section (of Article 2l.) Whenever the
/ oeS1Elty given Tor loan Is liable 70 dam
age or destruction BY fire, the insurance
company accepting the risk shall be absolute
| y liable 70 the State for the full amount
| OF the policy, and the policy itself shall
| specifically recite such fun liability. The
state may ITSELF provide for insurance on
! loans.
Section Iof Article 2l) The legislative
AsSemoiy may provide other additional ways
and means for beginning Or increasing any
| Article M
Section 10 tof Article al The State OF
| 1aontaha shall accept for Investment and Rd-
/ nlnlstratIon together with the aforesaid f.nda
constituting the Montana Trust and Ierarx
! tuhG' t' out as separable parts thereof, sinking
t,1Ss hdleL1nt peEl-aAnent funds, and cumulative
! SuodiVlslons and also other funds Designated
y she Legislative Assembly. when requested
20 90 so 6y the authorities having the care.
anu custody OF such funds All such funds
and the accrued interest, less the state com,
pensation hereinafter fixed shall H. -
@nen d9e. The provisions Of this section shah
! not apply TO the Public School Funds Of The
state, which school fund shall be admins
tered separately as ALREADY prescribed by the
constitution.
Section II COf Article 2i). The State shair
be entitled 70 receive compensation for
the administration Of all the funds admin
lstered under this act twentieth r-2Ot
OF all the interest collected thereon eaeb
year On the last day Of December Of each
year, the State Treasurer shall transfer 10
the State General Fund such one twentieth
tl-zVl OF all the interest collected during the
year less all the losses ascertained during
the year, which losses shall De deducted from
the one twentieth constituting the comp,nsa-
ton o. the State The balance Of the inter-
est collected shall be the net earnings and
snall De credited pro rata to each and every
fund constituting the Montana Trtst ana
Legacy Fund that was in tie keeping OF the
state on January lst Of that year. based on
the total thereof on that date, and shall be
added 70 such fund, or held asailable fo- the
Deneiiclarles - the case may be-. sums cllse
eeneficiaf1es snaii - raid ont during the en-
bic. ..''' as Z pTae-.-4-
Section y TOT Article 2Il an the net
earnings accrued u the state Permanent
Revenue Fund shall annuaiiy BE- added
on One Hundred Million Dollars (slo0.-
oVOVoO OO) Thereafter only twentieth
OF the annual net earnings shall be
added to the fund itself, and the remaining,
nineteen twentieths of the net earnings shan
be used for the general expenses Of the State
Section lS tof Article 2l). All the net
earnings aceruing 70 the State Permanent
school Fund shall annually be added thereto
until it has reached the sum Of Five Hu0d-
red Million Dollars tS500. 600 900. .OO). Tlere-
| after only twentieth Of the annual nas
earnings shall be added TO the fund itscIf
and the remaining nineteen twentieths shaIE
annually be appOrtiOned 70 the school dis
, / SFAcS OF the state on the basis of the
gregate actual school attendance in each dis
trict during the preceding school or calendar
year By persons between the ages Of six and
eighteen years and shall be used exclusively
Tor educational puTpOsess subject to such regu-
by law.
Section Il. (of Article III. All the ner
: earnings accruing to the Permanent Revenue
Fund for the University Of Montana shan
, annually be added thereto until It has reached
the sum Of One Hundred Million Dollars
: tslOOO00 c0OOO). Thereafter only one TWEEN
teth Of the annual net earnings shall bs
added to the fund itself, and the remaining
nineteen twentieths shall be apportOned to
all the educational institutions then cOmpris
ing the University Of Montana, on the basis
OF the aggregate actual attendance in each
institution during the preceding school or
calenda~ year, and may be used for all pur-
| poses properly connected with the work OF
| these institutions, subject however to such
. regulations and limitations as may be pre-
scribed by law
Section Is (of Article 2ll. Whenever TIE
purpose for which certain contribution was
made has been accomplished or can no longer
be ascertained followed then the total
amount of such fund shall be transferred &c.
come Permanent and inviOlable part there
of All contributions without specified pur-
, pose shall be credited TO the State Perma-
nent School Fund.
Section 1e (of Article al Should the
time ever come when any Of the three afore-
said permanent funds become so large that
! then, IN such case, the Legislative Assembly
shall have power 10 provide for the use or
all OF the net income from such fund for the
purpose Tor which u was created, IL may
use the one twentieth Of the annual net in
come which to be added to the fund Itself
for the sreation Of other permanent revenue
funds, or for any other public purpose that IL
may deem vase: provided however. that
none OF the foregoing provisions of this see
ton shall apply to any Of these fluids until
II has reached the specific amount fixed bT
this Article
Section II (Of Article 21) The Justieez
OF the Supreme Court of the State of Mon
pervIsory board over the entire adnn,nistra-
tion OF all the funds created or authorized
BY this article and the income therefrom.
During January Of each year, this board
shall review the administration for the pre-
ceGine year. II shall decide al uncertain o
disputed points arising in the administration
OF the funds whenever requested 70 10 50 by
Deneilclary By a state Official charged
with soTee part of the administration Of Ire
fund.- any other interested rarty and Il
may 10 upon It's own initiative Il shall
be the duty Of the supervisory board TO dc
and perform al acts and thipRs u may deem
necessary IN order to cause the hoard and
officers having direct charge OF these funds
| to administer the carefully and wisely
| in full compliance with the provisions Of this
article and such further legislation as may
be enacted relating thereto. The Clerk Of the
! Supreme Court shall be Ex-Offici1 Clerk Of
This Supervisory Board
Section IS (of Article 2l) The Legisla-
tive Assembly shall from time 20 time enact
such further legislation az il may deem nee
essary to carry into effect the provisions Of
this article.
Section g. Separate official ballots shaH
be provided at the general election TO be neId
| in November, 1924, which shall have printed
thereon all OF Article Twenty-one (2l) Of
| the Constitution Of the State OF Montana as
| proposed b. this act. There shall also be
| printed said official ballots below the
said article, squares and the words as fol
| lows:
III Against the above written amend
III ment TO the Constitution.
III For the above written Amendments
III 70 the Constitution.
/ Each eleetor who approves this amendment
shall mark an in the first square above
printed and each elector who rejects IL shall
mark an X in the second square.
| Section 4. The votes east for and against
| this proposed amendment shall be canvassed-
| determined and declared az provided by the
laws of the State of Montana
| Section 5. All acts and parts Of acts In
| conflict with the provisions Of this act are
4 here Inv aAo1