Section 7.
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The state shall accept for investment and administration as parts of the Montana trust and legacy fund, sinking funds, permanent funds, cumulative funds and 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 subdivision, subject, however, to such limitations as the legislative assembly may prescribe. The legislative assembly may provide for the investment and administration as a part of the Montana trust and legacy fund of any other fund subject to its power.
It is the meaning and intention of this Article that all investments of these funds shall be confined exclusively to safe loan investments, drawing a fixed rate of interest and being in aid of home making, farming and education work, or otherwise conducive to the progress and well being of society. All long term investments shall be on the amortization plan. Further regulations and limitations concerning these investments shall be provided by law.