Belt Valley times. [volume] (Armington, Mont.) 1894-1977, 1924-09-25

= transfer 70 the State General Na1Ms
= such one twentieth f1-40l al nE1 49,
/. interest collected during khs vAmw. haaI
= all the losses ascertained during khs
year. which losses shall be dadnez3&
q from tins one twentieth eomMEAmfima
. the compensation Of the State. YAl
{ balance of the interest collected msamI
! Be she net earnings and shah be- cred
3 lfea pro rata 70 each and every nan<
conssituting the Montana Trust mnd
: Legacy Fund that was in the keepins
81 ehe State on January 1et Of kA@a
yeay. based GA the total thereof On
that date, and shall be added Co each
such fund, or held available for the
benefIciaries As the case may -.
Sums due beneficiaries shall be p@&d
during the ensuing month Of January.
{ as far rs practicable.
Section IL (of Article 2l), Al the
! net earnings accruing to the State
. Permanent Revenue Fund shall anna
} ally be added thereto until Il has
reached the sum of One Hundred Mil
lion Dollars 10000 ,0O0.00). There
after only one twentieth Of the aunu-
al net earnings shall be added 10 the
fund itself, and the remaining nine
teen twentieths Of the net earnings
shall be used for the general expen-
ses Of the State
Section Is lof Article 2i). All the
net earnings accruinR 10 the State
Permanent School Fund shall annu-
ally be added thereto until It has
reached the sum Of Five Hundred
Million Dollars $500, 000, O00.0 0)
There after only one twentieth Of the
annual net earnings shall be added 70
the fund itself, and the remaining
nineteen twentieths shall annually be
apportloned to the school districts o.
the State on the basis Of the nggre-
gate actual school attendance in each
district during the preceding school
or calendar year by persons between
the ages Of six and eighteen years
and shall be used exclusively for ed
ucatlonal purposes, subject to such
regulations and limitations as may
be prescribed by law.
Section Ia (of Article 21). All the
net earnings accruing to the Pefuian-
ent Revenue Fund for the University
Of Montana shall annually be added
thereto until it has reached the sum
Of One Hundred Million Dollars
($l00, GOO, 100000. Thereafter only
one twentieth Of the annual net earn
ings shall be added to the fund itself.
and the remaining nineteen twenfiefha
shall be app0rtioned to all the educn-
tional Institutions then comprising
the University Of Montana. on the
basis Of the aggregate actual attend
ance in each institution during the
preceding school or calendar year.
and may be used for all purposes
properly connected with the work Of
these institutions. subject, however.
TO such regulations and limitations as
may be prescribed BY law.
Section is (of Article 21l. When
ever the purpose for which cerEain
contribution was made has been &C. /
complished, or can no longer be rs
certained or followed, then the total !
amount Of such fund shall be trans {
ferred to the State Permanent School |
Fund and become Permanent and
inviolable part thereof All contribu- ]
tons without q specified purpose
shall be credited to the State PerTnaa- 9
ent School Fund. !
Section 10 (of Article ~. should
the time ever come when any Of the
three aforesaid permanent funds be- I
come SO large that ne further Increase
Is necessary or desirable, then, in I
such case, the Legislative Assembly {
stiAN nave FoWSA W pNVFtUE Ao1 lac
use Of allAfhe net income from such
fund for the purpose for which IL was :
created, or il may use the one TWEEN n
sieth Of the annual net income which 4
was to be added to the fund itself for
he creation Of other permanent rev B
snue funds, or for any other public 8
purpose that it may deem wise; pro- q
Fided, however, that none of the fore 4
yoing provisions Of this section shall 4
apply to any Of these funds until IL a
las reached the specific amount fixed d
" this Article. d
Section Ia lof Article 21). The Il
justices Of the Supreme Court Of the q
State Of Montana are hereby made n
md constituted q supervisory board ..
lver the entire administration Of all "
be funds created or authorized by b
his article and the income therefrom. a
during January Of each year, this q
loard shall review the administration II
or the preceding year. 1t shall de- II
ide all uncertain or disputed points "a
rising In the administration Of the 81
unds whenever requested TO do so by ul
beneficiary, by State Official OF
harged with some vart Of the admin II
strafion of the fund, or any other in "a
crested party; and Il may do so upon e.
Be- own initiative. II ahall be the du- ID
v OF the supervisory board 70 do and "a
erform aIl acts and things that 1t re
lay deem necessary In order to cause h.
he board and officers having direct "
barge Of these funds 20 administer II.
be same carefully and wisely in full M
ompIiance with the provisions Of this ~
rtiele and such further legislation "a
3 missy be enacted relating thereto. 60
he Clerk Of the Supreme Court shall lel
E Ex-0ffieio Clerk Of this Supervis- &c
~ Board. ~.
Section Is gof Article 211. The nj
legislative Assembly shall from time ii,
1act such further legislation as II al
'ay deem necessary 10 carry into eff ex
ct the provisions Of this Article. da
Section 3. Sepmrate official bal s.
Is shmlI be provided st the general to
eefion 10 be held IN November, 1924, tx
hich shall have printed thereon all "a
Article TwEDky-one (211 Of the "a
49, -