Minneapolis spokesman., 1962-10-12

Kentucky with the chdrens JEAN private secretary 60,
the sale disposition thereof in the
thousand eight hundred SSo or Of such otSeT state
An .nd 5 sE S o he s State to %
to the State shall same manner
By IA" Pt: :PS ';i ani
&: srsTss1s % @ T.: Sese. s q q
f1 is' Ss Ss @ @
e Of ssS shall be the school
s1s1a 'a' @
% :ns ] S :eos q s
5 a:ds % s of county S hG1 No No such loan 5 shall s
..dssE p - a' ne
:: +: s:a ssSs
annually 4 the tine certifying the state Ii. county
q: :siS: district: isvs S.:1
shall Be- duty RsS "uS
o S levy or and Of s s @ Sg an the
re- %.fspectSy:y liable for such the
% ps aiQa S b Be- Fd , of
into the county the same manner as state
S G sTsS R s % # a %
fun funds of the respective counties school districts No
S@G toF % from the herein
ment principal reducing the rate Of such
with % y H oa Suitable Eh sw t 5 no
S a w 5 this 5s by legislature
SsSR to or %
nsSn sas aas
the university fund such loan or
make entire IS @ of E0ae 5
t city, town, village issuing bonds nor shall amy such
Or pest sn S actual Rs % Sa. S the or a S.
Investment nor shall such investments or
@ 5 G nc @ longer per
eHsss sv. q the f sG in 6 sne sT @
sGu S % f % M IN 4aon 5 s to psy at s " S
AMENDMENT NO. 1-NvEsTMENT OF TRUST FUNDS
FOR SCHOOLS
As Sections will read if amended
ARTICLE VIII
Sections and consolidated into L. sec
Section permanent state shall consist
the Of such % lands as - are or EATER may BE grant
0 the proceeds derived from lands granted the state
to the Ne portion Of
s ali a as RSS S ii. and Or in o. @
% S9 OF Hsh sres % n any the
fund Within lmtaons prescribed By law the
$ s:.S. !.:Sss 4 ssS ssi
q &nnss"ta 'a@ oP
@ s % Eeh sa
paid from earnings five
@ any given time percent in
stock of shall of
the voting stock Of corporation be owned
poratiOns been least three times the
outstanding bonds for five consecutive
longer Immediately to purchase but not than 20
above S Be the cos
the stocks bonds The principal Of the
fund shall be perpetual and nvoate forever provided this
, nss s the 5 Of s h or Ss bonds
by all shall be repaid diy
dend earned thereafter The interest dividends arising
districts Of the state proportion the number
district between the Of five and
investment shall be made until approved by board Of
consisting Of the the
secretary attorney general who are hereby con-
stued state board Of administering
and directing the Investment Of all state funds.
state board Of investment shall
used for the underwriting direct municipal securities
from the issuer or his agent.
Section The university may be
loaned to invested bonds county district city
village mortgage loans secured upon
improved and cultivated farm lands of this but
vestmen loan shall be made until
school fund and the university state;
shall such Investment be made when the
issued purchased would make the entire bonded indebtedness
exceed b Of the valuation Of the taxable
Of the county, school district city, sueh
bond shall such farm loan
such or loan would exceed 80 Of the actual cash
shall such investments be rate interest
than two percent for shorter period than
nor Tor longer period than 80 and change Of the
school district city, village lines shan relieve the
in such district county village or city In this
ton 70 pay such bonds
and respectively; and old are repealed
AMENDMENT NO. Estate DEBT AUTHORITY,
BUILDINGS AND OTHER PURPOSES
Present Form Of Sections
ARTICLE TX