The circle banner. [volume] (Circle, Mont.) 1914-1939, 1924-10-31
NOTICE or ELECTION
CONSTITUTIONAL AMENDMENT
Chapter 1874

4
Electors OF the State of Montana a
Amendment to the Constitution of tn
State OF Montana, Adding Thereto
New Article, Providing Tor the AZ
) ceptance and Administration by tn
State OF GIFTS, Donations, Grants an,
Legacies TOR the Creation OF a Stat
Permanen Revenue Fund, the Crea
ton CT State Permanent Schoo
Fund, Tor the Creation OF a Perman
enC Revenue FUND for the UnIyersit,
OF Montana, and for the Benefit O
other Useful, Benevolent and Worth,
i Objects and Authorizing the State |,
with Those Hereinbefore Indicated.
BE 1T ENACTED BY The LEGlS-
LATIVE ASSEMBLY Or The
STATE Or MONTANA:
Section l. 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 tneIr
approval or rejection at the general
election to be held in November,
1924.
Section 2. That the Constitution
OF the State OF Montana be amenu-
Ell and the same is hereby amended,
by adding thereto new Article to
be known ana designated as Article
/ lwenry-one (2l) reading ana being
as foIows:
ARTICLE XAl
Section l. TOT Article Iii. The
Staee OF Montana does hereby agree
and covenant TO accept IRON any
natural person, or persons, from in
sac or OUTSIDE tneotaLe, gllls, iona
tons, grants and legacles III any
amount or value not Iess lnan Two
Hundred fifty (S25O.00) Dollars each,
Tor tne creation OF SLate Ferman-
ent Revenue Fund, Tor tie creation
OF state Permanent socnUoi unu,
for the creation Oh a IernIanent he
venue Fund Tor the university Oh
Montana, and Tor the BENEFIT OF
SCIENTIFIC, educational, beneyoIene
ana charitable WORK, subject, now
ever, TO all inc PROVISIONS ant limit
tauons Oh tins arucie.
Section tor article I'D The
ot1tS LUZ C1ASA d5lCC anu GOV Suduto
to mold III trust ali sucn -contrlbu-
tons (gltts, donations, grants, and
isSac1e5J, ~ ,.un4A.ssO4 go o.-..
perpetuaily,a and TO apply the net earn
4nos CAeleoL as tlefeln III ec1C1, 80
Ject, however, TO the provisions and
Limitations Oh tnIS Ac,.
section 8 (oI arClCle AZ. Inc orr
ginal amounts OF ali contributions |
IOr the otate FermaneaL ne ,eAue |
FUND, Tor the state fermanenL
Scnool FUND, and for the terlnan-
EN- revenue tund Ipr Iho oA4s ersI.y I
OF Montana, shall be auucu 70 sacn
funds respectively and become insee-
arabic and 1nviolabie parts Unereol.
Tor other oDJecLs may
contain d provision to the enec,
Inat the net earnings thereof, or part i
Thereon, or, part Oh the net earnings, |
snail be adued 10 The principal tor d /
certain len5Lh OF time, or unLIi IL HAS
reached CERTAIN ..nuunC, VI un.i4
the nappenIns oI u ce4to.n osos,,
but such contingent event snail MOI
be more remote tnan PERMITTED Ny
-he laws eIfecting perpe.ui.les; but
no cohLnDuCiun containing suCn pro
VISIONS as 10 accanluIaLiUn snaIl 10
accepted by TIE state Until IL mas
oeen approved by the supervisory
BOARD hereinafter cOnS.lL4ttu, Wnl.A
)oaru snau nave power ~ feJeCt any
,ucn contributions that IL may ueeni
inwise.
SECTION 4 (or Article ~. The
STATE treasurer snail Keep d le4
nanent record OF ali such gifts, dona-
ions, grants ana Iegacies, Showing
ne names ol the glsers, the purpose
II the contribution, anu oCAer essen
iaI facts Relating thereto. "A dupIl- !,
ate OF TINS record snau be Kept by :
ne Secretary Oh StaCe. IneSe re-
ords shall be preserved perpeluany
IS lasting memorial 70 the glvers
nd their interest III society. 1ne
legislative Assembly snaII IronI
me TO tune make provision Iuf suIt-
be publicity concerning tnese bene-
actors OF their 1eIIowlnen.
Section b TOT ArllcIe ~. The
anne state Board and oIllcers mat =
ave charge OF the investment anu !
OF the FuDnc ScnuuI j.
und OF the State snail nave charge :,
l G4e Investment ana administration !.
[ All the Iunus administered unuer :,
ls article. All these Iunus small :
e invested as one common Iund 20 =
Z known ana designated dis the =
ioDtana trust ana Legacy Fund. III :,
ase any contribution is In some =
lner form tnan CASH, sucn boaru =
lan convert IT into Gosh DIS soon DIS =,
oecClon TOT article ~. All III IL
OF these Iunus Snail De s.
sIeIy ana cons5ryaLlvely 4uaae. rIe- IA,
renCes snail be gwen " long term
ans secured by nrsG mortgages un =,
wn anu city homes or on culllyateu :.
III producing farms IN this oJ...e !
&c from all PRIOR liens and lucunI-
anceS, ana also TO Monlana bOnus
sued tor eddcCional purposes. All
cn loans ana bonus snail be pay
ne on the amortization plan. mo
an III which the security is mort
sc SHAH exceed nifty per cent vi ~
& actual cash value of tie real es-
=