Montana oil and mining journal., 1938-10-15
Four Legislative Measures
Before Voters at Election

! gated by the said board. and under ita
strict supervision and control
Passed by the last legislature, tie
act Is now Ia effect. but Is referred to
the voters by petition.
Licenses run from 500 per year for
| fraternA organizations to $500 Ia catEsa
/ of 10000 or more. FoT smaller ponula~
| tons they are s100, $500 and s4S0. @c~
cording to the size Of the place. Rail-
way systems must pay $780, A bond
must accompany the license fee.
Four Year Terms
The act submitting 20 the voters Che
amendment 20 the constitution relaE~
ing 60 county office holders provides
foUr-year terms instead Of two-yna3
terms for county clerk, sheriff, treas
urer. superintendent OF schools SUR
veyor, assessor, coroner and public ad
ministrator.
Vacancies In all county. township
and precinct offices. except that q
county commissioners, shall be filed ~
appointment by the county commits
sioners, and hold office till the NEXT
general election. The treasurer shall
not be eligible 10 his office for the
succeeding term.
The county commissioners Of muv
county may at their discretion comhzne
two or more Of the county offices
named, but no office holder shall re-
ceive more than the salary and emolu-
ments of one office. Six months before
the general election for the election
Of such officers the county commits
sioners may make an order combining
the offices and advertise the order ID /
newspapers for six weeks.
This amendment viii increase the
term Of the county officers named from (
the present two years to four years. I
The county commissioners terms are
already six years.
There are two other county offices
the terms Of which are two years, the
county attorneys and auditors offices
The county attorneys term Of office Is
two years, and there are no county
auditors IN lower class counties. The
swo offices we're left out Of this amend
ment because they come under another
section OF the constitution, and but
1ne section can be amended by any one
act.
Investment Of Funds
The other constitutional amendment
-elating to the investment of state
'unds reads as follows: THE public
ichool permanent fund, the other per-
nanent funds originating in land
rants from the United States for the
upport of higher institutions Of learn !
ng, and for other state institutions,
ub1ect to investment, shall be invested
IS parts OF the Montana trust and
egacy fund; so also all other funds in {
he custody Of any officer or officers
4 the state, subject to investment, that
he legislative assembly may prescribe 7
The separate existence and identity Of I
very fund invested and administered 7
s a part Of the Montana trust and @
egacy fund shall be strictly main c
aimed" v
All investments Of these funds shall q
e transferred to the trust and legacy
md, and funds OF ali the political c
ivisions OF the state, on request OF Il
he officials in charge of such funds ?
han be accepted for investment and
administration as part Of the fund t
AIMED.
The trust and legacy fund shall be o
lvested as far as possible In public C
ecurities issued within the state, school, a
0unty, municipal and state bonds, and
lay also be invested In bonds Of or B
uaranteed by the United States, and fl
,deraI land bank bonds. b
Long-term securities with amortized Il
: serial payments are preferred, and s.
81 investments shall be limited to
ife loans investments bearing a fixed "
ate Of investment" All existing con-
ttutional guarantees against loss and G
version are retained
VIII Apportion Interest
Interest shall be apportioned by the
ate treasurer every three months be- RI
nning the last day Of March to each W
fund of the trust and legacy ii
md. III
The basis Of the apportionment shall 81
the average amount of each such es
md between the first and last days II
the three-month period Montana
ust and legacy fund money shall be b,
.pt by the treasurer separate and dis hi
net from other money In his custody. tk
Money In the fund named shall be "
bject 10 payment 10 the owner or
Vners, or official cglstodians, persons I'd
Institutions, without appropriation w
I the legislature, upon proper author Of
alton provided by Law. 81