The Western news. [volume] (Libby, Mont.) 1933-current, 1938-09-22
Algebra Long Known to Egyptians
Algebra was known to the Egyp-
tians as early as 1900 B. c.
CONSTITUTIONAL AMENDMENT
BY DR.. JOHN w. HOLLAND
CHAPTER %

CHAPTER 81
tors of the State OF Montana an Amends
ment to Sections 6, Z, 8, 9. 10 and IL OF
Article XXI OF the Constitution Of the
vestment and Administration OF the
Public School Permanent Fund, the
Other Permanent Funds Originating in
Land Grants From the United States
of Learning. and of Other Funds ~
Separate and Integral Funds of the
Montana Trust and Legacy Fund.
BE IT ENACTED BY THE LEGIsLA-
TIVE ASSEMBLY OF THE STATE
OF MONTANA.
Section /. That Sections 6. I. 8, .. 10
and II Of Article XXI of the Constitution
of the State of Montana be- amended an
hereinafter provided, and that the ques-
ton of such amendment be submitted to
the qualified electors of the State OF
Montana at the next general election. :.
Section B. That Sections 0, 7, 3, 3, ~
and II of Article XXI of the constitution
OF the State of Montana be, and the same
are hereby amended to read as follows;
Section c. tof Article xxD The Public
School Permanent Fund, the other per-
manent funds originating In land grant.
from the United States for the support
of higher institutions OF learning. and for
other state institutions, subject to invest
ment. shall be invested as parts OF the
Montana Trust and Legacy Fund, SO also
all other funds in the custody OF any
officer or officers OF the State. subject
sembly may prescribe. The separate Ak
istenca and Identity OF each and every
fund invested and administered as part
OF the Montana Trust and. Legacy Fund
shall be strictly maintained
ALI investments belonging to the PUBLIC
School Permanent Fund, except invest
$ ments In state farm mortgage loans. and
all investments belonging to the said land
grant funds. shall be transferred to the
Montana Trust and Legacy Fund at the
full amounts OF the unpaid balances or
such investments.
shall accept for investment and adminia-
tration as parts of the Montana Trust
and Legacy Fund. sinking funds, perma-
nent funds. cumulative funds anu trust
funds belonging to or In the custody of
any OF the political subdivisions of the
State when requested to do so by the
governing board of such political subdi-
vision, subject, however, to such hmifa~
lions as the Legislative Assembly may
prescribe The Legislative Assembly may
provide for the investment and admins
tration as part Of the Montana trust
and Legacy Fund oil any other tuna SUD
Section (of Article XXI The Mon
tana Trust and Legacy Fund shall DO
safely and conseryatively invested In
public securities within the State, as far
as possible, including school district,
county and municipal bonds, and BONDS
Of the State of Montana; but II may also
be partly invested In bonds OF the United
states. bonds fully guaranteed by the
United States az 10 principal and interest.
and Federal Land Bank bonds All in
yestments shall be limited TO safe loan
investments bearing fixed rate Oh IN
terest. In making long term investments
preference shall be given 70 securities
PAYABLE on the amortization plan or
serlally The Legislative Assembly may
provide additional regulations and linz
itationa for all investments from the
Montana Trust and Legacy Fund.
All existing constitutional guarantees
Ifass., rtFea gsA tfS
public school fund, to the funds OF the
state university and to the funds or al
other state institutions OF learning, shan
remain in full force and effect
Section 3. tof Article XXI On the last
day Of March, OF June. OF September and
of December OF each year, the state
Treasurer shall apportion all interest coll
lected for the Montana Trust and Legacy
Fund during the three month period then
terminating to all the separate ana In
tegral funds which constitute such rune
on the day OF such apportionment ana
which constituted parts OF the fund on
the first day OF the three-month period
then terminating. The basis OF appor--
tlonment shall be the average amount OF
each such fund between the first day and
the last day OF the three month period.
Section 10. tof Article xxI) The State
Treasurer shall keep all deposits Of money
belonging to the Montana Trust and Leg
acy Fund separate and distinct from osner
deposits OF money In his keeping.
Section IL. (of Article xXD All money
In any OF the separate and integral FUNDS
constituting the Montana trust ana Leg
acy Fund and the interest apporuoned
therefrom, shall be subject to payment 20
the person, institution or other entity
entitled thereto. without appropriation by
the Legislative Assembly, upon proper
authorization as provided by law"
Section g. That separate official ball
lots shall be provided at the genera
aleetlon to be held In November. 1885
which shall have printed thereon under
the heading Proposed Amendment to
Sections 6. Z, 5, 8. 10 and II Of Article
XXI of the Constitution of the state Or
g. 10 and ii as amended by this act.
There shall also be printed on the orficial
ballots following the said sections the
following:
For the foregoing amendment
to the Constitution.
Against the foregoing amend
ment to the Constitution.
The srector shall indicate his prefer
ence by marking X befors the proposition
for which he desires to vote.
Section 1. That the votes cast Tor and
ssnn.a sa' and dss.rsa
section {. That all Acts and parts os
Acts In conflict with Che provisions u
this Act are hereby repealed.
Section s. That this Act shall BE- In fun
| forco and effect from and after ita pas
sage and approval hy The Governor.
| UNITED ETATES OF AMERICA
| STATE OF MONTANA
I, Sam w. Mitchell. Secretary OF stats
| OF the State Of Montana. do hereby Ger
| tify that the foregoing IL = true and
correct copy Of an Act entitled: AN Acs
| to Submit to the Qualified Electors Of th<
| State Of Montana m Amendment to Sec
tionp &, z. 3, .. 10 and Ii Of Articls Xxx
4 OF the Constitution OF the State OF Mon
| tAnA Relating to the Investment and Adj
minlstration OF the Public School Parma
ncnt Fund, the Other Permanent Funds
Originating In Land Grants From ths
Institutions OF Learning, and Of Other
Funds as Separate and Integral Funds q
tho Montana Trust and Legacy Fund.
| IN TEGTIMONY WHEREOF hAys