The Hardin tribune-herald. [volume] (Hardin, Mont.) 1925-1973, 1938-08-04
CONSTITUTIONAL AMENDMENT
CHAPTER 90

the Support of Higher institutions
of Learning. and Of Other Funds as
Separate and Integral Funds OF the
a M on RN T ,r!Eh an" nd Leyaey FHEd.
TIVE ASSEMBLY OF THE STATE.
OF MONTANA:
Section l.. hat Sections 6. ?. 8. 9.
10 and II Of Article NN! Of IN" Con-
amended as hereinafter provided, and
that the question of UGH amendment
be submitted to the qualified electors
of the State Of Montana at the next
general election.
Section :. That Sections 6 Z, s. 9.
10 and II of Article Xxi OF the Con-
stitution of the State Of Montana be.
and the same are hereby amended to
read as follows:
SECTION 6. tof Article NND- The
Public School Permanent Fund, the
other permanent funds originating in
land grants from the United States
for the support of higher institutions
of learning. and for other state instl,
tutions, subject to investment, shall
be invested as parts of the Montana
Trust and Legacy Fund: so also all
other funds in the custody OF any
officer OF officers Of the STATE. subject
to investment. that the Legislative as
sembly may prescribe. The separate
existence and identity of each and
every fund invested aad administered
as a part of the Montana Trust and
Legacy Fund snail be strictly mann
All investments belonging to the
Public Srh0nl Permanent Fund. keep
investments in state farm n ~ az"
loans. n al. ",veStlnEntS Ori"I'i'i@
transferred to tie Nont2n1 lfn% Hi%
legac' FuAi ut tn tlti al,I'"h.' -
the unpaid ba!aNrIS OF surh invest
ments. WV, -,
Section Z. (of Article MID IhG
STATE shall accent Irr iVN, . ! .U,it I:i'i
aumin:SirLti' rs IN - o.! ("' -.'",
,ana Trust II - ~ = ~
funds. ptri.'il: ii ~. -, '""'' I\'
iulI< ana 'iI, ''',r% " IL
siihdiNtS.ols VI III Ei't, W"'9 re-
~,iHr>ted TO CO. :" -. ! e
board Of such ""',",r so ~ ~.
subject h,M"\Hr. T. Ar =. , -
scribe. TN" t. ,S.''.'' ."i.,\ MY
provide for tn" ii'o"',ln,:lt i"i Al
m~:A;$t2tIHn "N Il iiEI 81 =" y! TIKI"
Trust ana i-r :! ! Una 60 "''! o'"''
fulh $u,,J'%l u vrn THO
Section y. ''i NJ H;,i' me-
Mont2na TRUST and l"' '.iIE u"H 49,,
be safely ANA en- '.N',ilN'IE I!lE!>h'"
in public Sc. ui'i;tS ".'N:n 'he EIhtti
as far as pos Die; ~inr.uulAS Stn'n'
county and man'c!N3! nnn.S.
and bonds OF TN StH;e "t MontI"a,
but it m?H also he p3";i% INVESTED IN
bonds OF the MT 'd Sta!eS, ponds
fully guaranteed by the United states
as to p"i"c.llil and interest: ana Fed
eral Land Eank bonds. All invest
ments shall be limited to safe loan
investments bearing a liked rate OF
interest. In making long term invest
securities aEabl on the amnrtlzaI3n
plan or S"riaily. n LEGISLATIVE As
Sembly may provide aduitlonai resula-
tons and limitations 1or al invest,
ments IRON, the Montana trust anu
All existing constitutiona guaranr
tees against loss or diversion applying
the public school fund. to the funds
Of rnd the of STATE ia otb 1n's stsfe ns ahu to 'n of
learning, shall remain in full force
and effect.
Section 3 Cor Article On the
last DAY OF nlarch, OF 1une' u sep
tember and OF December OF eacn year;
the State sinai apportlUn an
Trust and Legacy. Fund during the
three-month period then terminating
to all the separate and lnteGrai lunCs
y" :" such annortionment and which con-
narts of the fund on the first
t%erminating. The basis of apport.on.
ment shall be the average amount OF
saGn t fuch lay suh d,v Deo oT the the hree .Io NTH
anu ne aS' '"S u 'e
sn"tior IN TOT Artic,a yyD The
s,ote Tra, s,rer sbam keen ali denosits
of money belonging to the Montana
rTr,st ,nd 800. E,,rd COW, = 1ta and
distinot ~ - other d"nnsits Of n,onav
~ he toarinr ~
Sacti0n IL (of Article XXI All
n,nnev in any Of the sena",:a and in.
fa1rai firIs cnnstitutinpp the Nnntam,
<rrnst and I,erarv k'und ard tie imter-
est annorti0nmd 1;ErcfrnnI shall be
snhiect to navnnnt 70 the ners1n
:" n,r rtiaj
T faesele We e'a. s.nmh nNp'm nnt .I', n.y. n "T ave oms
ny S t,z : as Tb "o."ea ~ off;ci,l
.1,,lIots sh,H he nroviTnd -. tba nnn-
eraj elerti0n TO he held in Novrmhfr.
1o2S wh;rh shan have nrintnd the"ron
5,nder the bnnj:n ~.prnn1rnd snSarG-
ment to Snrtinrs 8 o 10 md II
the S;ta+e Of Nont,"1" iii Of III. s,:i
Sectioms & 81 10 and II MS
amended by this net There Shall aI"o
he nr;rted on the off.ria1 halI"ts fnl.
inwing the said sec.i1ns Inc fnISw.:2g:
F@
For the FOREGOING amendment
to the Constitution.
-
Against the f~oregoing amend
ment to the Constitution,
I M au :.,. ii. ~
me e:eclor sni!l lht.tAIe n pref
elSHcs ps illIihi'I ~ nt.oie ~ pt"p-
osttlon lor "h,Gh ne des:ies 10 Hote.
Sectlon =. lHat me E3les rH,I lot
Section .: That all ACTS and parts
~ tbis Act GRO barahy rene,ied