The circle banner. [volume] (Circle, Mont.) 1914-1939, 1924-08-15
NOTICE OF ELECTION
CONSTITUTIONAL AMEuDmENl
Chapter 1874

I Electors of the State Of Montana a
!. amendment TO the Constitution OF tl
State Of Montana, adding Thereto
! New Article, Providing for the A,
Z ccDlance and Administration bv til
State Cf Gifts, Donations, Grants an,
! Legacies for the Creation Of a stat
Permanen Revenue Fund. the Crea
ton Of a State Permanent Schoo
Fund, ior the Creation OF Perman
ent Revenue Fund for the University
Of Montana, and for the Benefit Of
other Useful, Benevolent and Worthy
0bjects;and Authorizing the State tC
Administer Other Funds Together
] with Those Iereinbefore Indicated
lBE TT ENACTED BY THE LEGIS-
LATIVE ASSEMBLY OF THE
/ STATE. OF MONTANA:
Section 1. That the Constitution
Of the State Of Montana be amend
ed as hereinafter provided. and that
the question Of such amendment be
submitted TO the qualified electors
Of the State Of Montana for their
approval or rejection at the general
election to be held in November.
1924
Section 2 That the Constitution
Of The State Of Montana be amend
ed and The same is hereby amended.
by adding thereto a new Article TO
be known and designated as Article
Twenty-one CID. reading and being
IS follows:
ARTICLE XXI
Section I. (Of Article 2D. The
State Of Montana does hereby agree
and covenant to accept from anv
natural person, or persons, from in
side or outside theState, gifts. dona-
tons, grants and legacies in anv
or value not less than Two
Hundred fifty (S25O.O0) Dollars each.
for the creation Of a State Perman-
ant Revenue Fund. for the creation
CT a State Permanent School Fund
Tor the creation of Permanent Pn. r
venue Fund for the University Of
Montana, and for the Benefit of
scientific, educational, benevolent
md charitable work, subject. how
yer, to all the provisions and limit
atoms Of this article.
Section 2 (of article 2D Tho
tate further agrees and covenants :
0 hold in trust all such contribf-
ions gifts, donations, grants. and :
'gacies), TO administer the same :
erpetually,ana to apply the net earn
lgs thereof as therein directed sinh
ct however, to the provisions and
Of this Act.
Section (of article 2D The orr. /.
nal amounts Of all contribution u
T the State Permanent Revenue g.
md, for The State Permanent 2
'hool Fund and for the Perman. :.
.t Revenue Fund for the TJniverqitv y, "
Montana, shall be added 10 spcb ~
mas respectively and become inser- ~
able and inyiolable parts Thereof. -
ntrbutions for other objects NAV ~ ~
ntaln provision to the effect o. y.
70 the net earnings thereof. or part ~
sreof, or part Of the net earninrs ~
an be added TO the principal for ~
'tam length Of time. or until il has ~ ~
icnea q certain amount. or rnffr ~
hapDenmg or certs-n EVEN ~
such contingent event shall NOT -,
more remote than permitted nv ~
Z laws erecting Derpetuities; but
contribution containing such nra- ny ny
IONS as to accumulation SHAH Ia ~
eDted by the State until # bas go
n approved by the superviso,.,, on
fd hereinafter constituted wi,iob ~
"a snail have power TO reject any ~
contributions that il may deem ~ lisi
ection Cor Article 2D rho L.es
.e treasurer shall keep a pes. e.is
rent record of all such giflg.d9na. Pa
S, grants and Iegacies. showing .
names Of the givers, the purnosa ~ w
ne contribution, and other essan- pa.
facts relating thereto. A dupli. :. q
OF TINS record shall be ken H., II Il
Secretary Of State. These re. ~ -,
S shaii be preserved pergefi.ai;v me
lasting memorial to the girers GU!
their interest in society. Tbe 20 =
slatiYe Assembly shall ero1 hihe
70 llme make provision for suit rl'ss
puDilclty concerning these bene- pS a.,
rs Of their fellowmen. 9s
ction 5 (of Article 20. 1ba me
state Board and officers tbat 9le.S
ch9rge of the investment an.1 ailiiu
nistration OF the Public School Id9
Oh the State shall have chargs urea
e Investment and administrator lhef
the funds administered under annu'
article. All these funds snail 70 'h
vested as one common fund 10 hihet
ioWn and designated as tbe pe az
ma Trust and Legacy Fund in OF In
any contribution IS III soma slesa
FORM tnan cash, sucn boar, each
contefe AZ INTO cash as soon as schoo
cable 90 betwe
ion Cof artic,a on years
ents oil these fnnds III az ,u for e,
and CONSERVATORY maze. 80 sucn
es sinai De given to long term may
secured by nrsC sor,aagas IN eecl
ma city homes or on cultivated sae he
eoaucing farms IN tnis So in+iish
ON All prior liens alia nl.un,, 80 y
p ana also TO Montana Bonds @'esu
ior eductional purpo.es. AIJ ne So
1ans and bonds shat De IAN.
4 The amortization pm. [a yA'y Q.
"hlcA the security is a NOR. s''- . q
nan exceed nifty per CEN !, iesell.
aal cash value Oh me real ~ sne-,- 4
ven IS security No farm ~ eAe
4