The Bozeman courier. (Bozeman, Mont.) 1919-1954, 1924-09-24

Section 8 (of Article 21.) Whenever the
security given for a loan Is liable 10 dam
age "r destruction by fire, the insurance
ecmpa ~ accepting the risk shall be absolute
IS l;aoie 20 the State for the full amount
o. the policy. and the policy itself shall
specifically recite such full liability. The
State may itself provide Cor Insurance on
any property constituting security for its
loans.
Section Q ,of Article 2I.) The Legislative
Assembly ray provide other additional ways
and means for beginning or increasing any
of the funds created or authorized by this
Article.
Section 10 (of Article 9l.) The State of
Montana SHALL accept COR investment and adj
ministr.tiou together %itn the aforesaid funds
CONSTITUTING he No' ana Trust and Legacy
fund. but "s separate parts thereof. Striking
FUNDS. permanent tuGt=, and cumulative
funds belonging to the state and its political
subdivisions. and also other funds designated
b. the Legislative Assembly,. when requested
10 10 SO by the authorities having the care
and custody Of such funds. All such funds
and the accrued interest. less the state com
pcn>atiOn hereinafter fixed, shall be repaid
when due. The provisions Ct this section shall
no. apply to the Public School juad, Of The
State. which school fund hall be gdm;1is-
tered separately as already rrcf"..bed BY the
constitution.
Section II ,of Article -. The State shall
be entitled 70 receive as compensation for
the administration of ali the funds admin
istered under this act one twentieth C-20l
of all the interest collected thereon each
year. On the last day OF December of each
year the State Treasurer shall transfer 10
the State General Fun such one twentieth
tl-2O} If all the intercs: collected during tho
yea-. less all the losses asccrta!aed during
the year. which losses shall be deducted from
the one twentieth constituting the cOmpensG-
ton of the State. The balance OF the inter
est collected shall be the net earnings and
shall be credited pro rata to each and every
fund constituting the Montana Trust and
I a LH.A ~ ma - e. A--s- g tn
State on January LIST of that year, based on
the total thereof on that date, ard shall be
added TO such fund. or held available for the
beneficiaries as the case may be. Suns due
beneficiaries shall be paid out during the en-
bic.
Section p (of Article 81 All the net
earnings accrued TO the State Permanent
thereto until 1t has reached the sum
on One Hundred Million Dollars (Sl09,-
cQ0.0 900 .00). TIL rcafter only one twentieth
of the annual net earnings shall he
added TO the fund itself. and the remaining
nineteen twantieLh5 Of the net earnings hall
be used COR the general expenses Of the state.
Section l3 jof Article 2D. All the net
earnings accruing to the State Permanent
School Fund shall annually be added thereto
until it has reached the sum of Five Humid
rcd Million Dollars $500. 900, 900. OO). There
after only one twentieth of the annual net
earnings shall be added to the fund itself,
-ANA AA- NAAAANb~Nl 9lA4A
annually be appOrtioned to the school dis
trcts of the state on the basis of the az
gregate actual school attendance in each dis
trict during the preceding school or calendar
year By persons between the ages of six and
~ClaAtecn years and shall be used exclusively
FOR educational purposes, subject to such regu-
lations and limitations as may be prescribed
by law.
Section II. (of Article 2l). All the net
earnings accruing to the Permanent Revenue
Fund for the University of Montana shall
annually be added thereto until it has reached
the sum of One Hundred Million Dollars
$500, 900, 100000. Thereafter only one TWEEN
tieth of the annual net earnings shall be
added TO the fund itself. and the remaining
nineteen twentieths shall be apportiOned 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
calendar year. and may be used for all pur-
poses properly connected with the work Of
these institutions. subject, however. 70 such
regulations and limitations as may be pre-
scribed by law.
Section Is Cof Article 21). Whenever the
purpose for which a certain contribution was
made has been accomplished. or can no longer
be ascertained or followed, then the total
amount OF such fund shall be transferred 70
the State Permanent School Fund and be-
come a Permanent and inviolable part there
of All contributions without a specified pur-
pose shall be credited to the State Perma-
nent School Fund.
CeCLlOn 10 At ArIlCle Ill should the
time ever come when any of the three afore-
said permanent funds become so large that
no further increase is necessary or desirable.
then. in such case, the Legislative Assembly
all Of the net income from such fund for the
purpose for which IL was created, or il may
use the one twentieth of the annual net in
come which was TO be added to the fund itself
for the creation of other permanent revenue
funds, or for any other public purpose that it
may deem wise; provided. however, that
none of the foregoing provisions OF this sec
ton shall apply TO any Of these fluids until
Il has reached the specific amount fixed by
this Article.
Section II (of Article 21). The Justices
of the Supreme Court Of the State OF Mon
tana are hereby made ard constituted a SUI
pervisory board Over the eDtire adm nistra-
ton OF all the funds created or authorized
by this article and the income therefrom.
During January Of each year. tIi1 board
SHALL review thu administration fur the nTe-
ce6inR year. II shall decide All uncertsln Of
disputed points arising in the adnInistretion
of the funds whenever requested 70 10 81 Cy
a beneficiary. By a state Official charged
with some part of the administration OF me
fund. or any other interested rarty and II
may do so upon IS own initiative il shall
he the duty of the supervisory board 20 do
ana perform all acts and thlrgs u may deem
necessary in order to cause the board and
officers having direct charge of these funds
to administer the same carefully ard wisely
in full compliance with the provisions Of this
dTIiCle ana SUCH luTLueT leESldlaO J as WAY
be enacted relating thereto. The Clerk Of the
Supreme Court shall be Ex-Offici) Clerk OF
this Supervisory Board.
Section Is (of Article 21). The Lcgisla-
tive Assembly shall from time to time enact
such further legislation as it may deem nee
essary to carry into effect the provisions of
this article.
Section 3. Separate official ballots shall
be provided at the general election to be neld
in November. 1921. which shall have printed
thereon all Of Article Twenty-one C2I) Of
the Constitution of the State of Montana a.
proposed by this act. There shall also he
printed on said official ballots. below the
said article. squares and the words as fol
lows
For the above written amendment
to the Constitution.
Against the above written amend.
ment to the Constitution.
Each electOr who approves this amendment
shall mark an x in the first square above
printed and each elector who rejects it shall
mark an x in the second square.
Section 4. The votes cast for and against
this proposed amendment shall be canvassed
determined and declared as provided nv tbe