Belt Valley times. [volume] (Armington, Mont.) 1894-1977, 1924-10-02

transfer p the STATE Gsaasal un'
Szaeh one twentieth ~ 90 - ELL a.
|inseEsst collected during e. yzaf. -
Mh eH& losses aaeexsafm@d earring fhl
rear whleA hn@saz shan - dmsa@s &C
Truss 1h& ona kwemfiakh samas Tag
the compensation az TIA HzAk@ 3ms
balance Of the interest oala@ezs8 azzal
- khe net earnings and nsamM 30 mHnd.
afH0 pro rata 30 each mma @#@aw &Nm4
leenekatufing the MonGmmm Wx@m& sG
Legacy Rumd that mmm in kha
OF tee State On JmHmarN Lax 8# fMat
/ year. A@@@d On the kasml fzHN& o.
E@af date AND shall BE- mdzz@@ - @Ach
sneA fund, or held aw@ikahA@ &ax sAe
f@an@TXe1axAe@ Is xAa ea#@ MAN be.
3zzna cue heneficimxies sM@M 10 N@ld
aux1nk tAe ensuing month BE 8amwmxy
/ IS Tar rs practicable.
SeekS0n ~ (of Article aa4 All ne
net earnings sacxmin@ ~ #Ae @eate
RsFnsazsent Revenne EHk@a @hmE msasssa-
ally % aeE0ed thereko ##kM IN #As
feaeAe4 the sum ct One HmsAs& Nil
non Dollars (100y 000, 009. 00l. There
after only one twentieth Of tbs annp-
81 net earnings shall be added 10 the
fund itself and the remaimlng nine
teen fwentieths Of the uet EARRINGS
shall be used for the general expen-
ses OF the State.
Section Is (of Article "a. Al the
net earnings accruing 60 3ke state
Permanent School Fund shnA annu-
ally Be added thereto until Is mas
reached the sum Of Five Hundred
Million Dollars $bD@ 90 ID.
There after only one twmmtSAxN af the
annual net earnings shall be asade0 70
the FUND itself and the r@smmlntng
nineteen ewentiethe shall annually be
apportloned 20 the school districts of
tne State on the basis Of the aagre-
gate actual school attendance N each
district during the preceding school
OF calendar yemx BY persons naeween
the ages OF ak and eighkeau years (
and shall be used exclusively for ed
ucatlonai purposes subject 20 such 1
regulations and limitations az may \
be prescribed by law.
Section IL fof Article al. All the
net earnings accraing to The Pagrnan-
ant Revenue Fund for the University
Il Montana shall annually be mdded
hereto until Il has reached tee sum
Vt One Hundred Million Dolimrs
S1g)0. Oo0, 600. 00). Thereafter only ]
Dne twentieth Of the annual m@k earn
n@s shan be added to thu Aanu gEaeIf,
md the remaining nineteen twankfekhs
hall Be apportioned 70 All kha e<1uca- I
ional institutions then comnRialng
he University Of Monkmna. On the Z
'aais Of the aggregate actnmI Af2and- 4
mes Ia each Institution dszraNm the
preceding school or calemkax year. {
nd may be used for al nnxzsuses
properly connected with TIA work Of I
hese institutions. subject. however. i
o such regulations and hgmlkmfi as Q
nay be prescribed BY law. ia
Section is fof Article 21l. When
yer the purpose for which 4 certain b
contribution was made Mas been ac- 4
ompIished. or can no longer b. as Il
ertained or followed. then THE total r
mount Of such fund shaIl be trans o
erred % the State Permanent School d
'und and become = peruaafsasak and +
svioIable mart thereof. All ss,nfribsi. a
ons without q specified nurpose |,
hall be credited to the State pmrsnaf,- q
nf School Fund la N
Section 16 (of Article 2I). Slsbuia y
he time ever come when any Of ehe b
lree aforesaid permanent funds he- 4
1me SO large that no further increase 4
necessary or desirable, then, In =
lch case, the Legislative Assembly Il
hall have power to provide for the VI
se Of al the net income from such s
md for the purpose for which it was q
'eated, or It may use the one TWEEN n
eth of the annual net income which e
as to be added TO the fund itself for q
Ie creation Of other permanent rev. "a
Tue funds, or for any other public 81
1rpose that It may deem wise; pro- 8
ded, however, that none Of the fore n
ling provisions OF this section shall a.
1ply 10 any Of these funds until IL m
Is reached the specific amount fixed "a
; this Article. lee
Section II (of Article 21l. The Il
Istices Of the Supreme Court Of the d
ste Of Montana are hereby made m
I'd constituted supervisory board 70
er the entire administration Of 81 WI
9 funds created or authorized ~ be
is article and the income therefrorn.
aring January Of each year, this g
ard shall review the administration Ne
: the preceding year. 1t shall de- fr
ie ali uncertain or disputed points Cd