St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1962-10-12

Kentucky the chdren JEAN private secretary in gov
re sale disposition bonds Of tSs
one and 81 s or o 1 s the
the legislature 9 anna may By lay from .s
the State appraised in the same MANNER
oF PSs s44 RS s 'I ani
'9s on e. 4 s sa:s e: S4 q 8
and S oas S Of
S of S % Sa& @ the common school
the SENSATIONAL and charitable State IN the
Section The school funds Of the may be
ssS 5f'5 ys = s b:
made ns S gn y bosR N n shall Be
auditor and the state wp are hereby constituted in
shan such be exceeding three Is per cent
same The s stat. sudisof ,ba
to whose county Or to sDy q
made the tax necessary % be amy HS 0s Aa fvs been
'P nd 5 extend Sae duty az 1So s
taxable property of his county of the districts
shall fifty Co. peF in eGs a
Be on aH d psd
Of such principal or
% any given year shall be credited the
the boundaries the making Of amy such
provided for shall law be extending the time Of pay
% s State m T1Ps m ring rights Of the
passed b9 Ss & aG
for the purpose Of carrying the same into effect
Section The permanent school, permanent university
land funds of this state loaned invested
state and in first oEtgage loans secured improved Guilt
be until % by the board of commissioners designated
the university Of this loan Or
make the entire is per cent of the
@ s y o2 Of the taTa & of the county school dis
farm loan or Investment be made when such investment loan
%OrtgHged to secure said investment shall such investments
period than one year noP for longer ger
Ss nes shall ev the Ns sG pD in aS T
s su fT9 Sf E 5 ps at aS % 81
AMENDMENT NO. l. INVESTMENT OF TRUST FUNDS
FOR SCHOOLS
As read amended
ARTICLE VIII
Sections and consolidated section
section The school fund Of tie state shall consist
q United States the schools within each township
o. the derived from swamp lands granted to the state
portion Of
provided By funds arising from the sale or otSeS
the any i
the 5 the s
SS 1SNG s1nS R S e. . on E afsn :
% the States bonds @ as the S f a%ssS and
its political subdivisions agencies other states but
oaed 0 corporations dividends have been
OF said
stock any corporation shall than five percent Of
Sss sa %
requirements outstanding bonds
longer Immediately prior purchase but than
The percentages referred to above shall be computed using
price Of the stocks bonds The principal
fund shall be perpetual and nvo forever provided
shall not the sale public
than the thereof the fund.- all
by all gains shall repaid dy
the investment thereof shall be distributed
districts Of the state proportion the number
district between the Of five and
investment shall be made until by board Of
secretary Of state and the attorney general hereby
sued state board Of investment
and directing the investment Of all state funds
The state board of investment shall permit
used for the underwriting direct purchase municipal
from the isSuer his
Section The university
loaned invested in the bonds Of school
town. village Of this and first upon
improved and cultivated farm lands Of this
shall be until approved
mannt school fund and the university
shall such loan investment be made be
issued purchased would the entire indebtedness
exceed 10 the assessed valuation Of the taxable
bonds; shall
such investment loan would exceed 30
value OF the farm land mortgaged said investment
shall such investments loans be made
than two percent for shorter period than
for longer period than 80 years change the town
school district city village county lines shall relieve
property town. school district county village this
state at the time Of issuing such bonds from liability for
ton TO such bonds - ~
Article VIII, Sections g. T. g. T. and are REMEMBERED 2
AMENDMENT NO. Estate DEBT AUTHORITY,
BUILDINGS AND OTHER PURPOSES