Section 11. Investing Permanent Endownment Funds
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Investing Permanent Endowment Funds
The permanent endowment funds other than funds arising from the disposition of university lands belonging to the state, may be invested in United States, state, county, city, village, or school district bonds or state warrants or other investments in which a trustee is authorized to invest pursuant to state law.
Loaning Permanent Endowment Funds
The permanent endowment funds other than funds arising from the disposition of university lands belonging to the state, shall be loaned on United States, state, county, city, village or school district bonds or state warrants, or on such other investments as may be permitted by law under such regulations as the legislature may provide.
Loaning Permanent Endowment Funds
The permanent endowment funds other than funds arising from the disposition of University lands belonging to the State, shall be loaned on United States, state, county, city, village or school district bonds or state warrants, under such regulations as the Legislature may provide.
Restricts use of endowment funds
The permanent endowment funds other than funds arising from the disposition of university lands belonging to the state, shall be loaned on United States, county, city, village or school district bonds or state warrants, under such regulations as the legislature may provide.
Investing Permanent Endowment Funds
The permanent educational funds other than funds arising from the disposition of university lands belonging to the State, shall be loaned on first mortgage on improved farm lands within the State, United States, county, city, village or school district bonds, or State warrants, under such regulations as the Legislature may provide: Provided, That no loan shall be made on any amount of money exceeding onethird of the market value of the lands at the time of the loan, exclusive of buildings.
Investing Permanent Endownment Funds
The permanent educational funds other than funds arising from the disposition of university lands belonging to the State, shall be loaned on first mortgage on improved farm lands within the State; State, United States, or school district bonds, or State warrants, under such regulations as the Legislature may provide. Provided, That no loan shall be made of any amount of money exceeding one-third of the market value of the lands at the time of the loan, exclusive of buildings.
The permanent educational funds, other than funds arising from the disposition of university lands belonging to the state, shall be loaned on first mortgage on improved farm lands within the state, or on state or United states bonds, under such regulations as the legislature may provide; Provided, That no loan shall be made of any amount of, money exceeding one-third of the market value of the lands at the time of the loan, exclusive of buildings.