Title

RURAL CREDITS

Proposition Summary

Senate Constitutional Amendment 17 amending section 31 of article I V of constitution. Present section unchanged but clause added authorizing legislature to provide land colonization system, establish rural credits system in aid of agriculture, authorize issuance of bonds secured by first mortgages on farms, declaring same exempt from taxation and acceptable as security for public deposits, provide for state participation in rural credits system by establishing trust fund, authorize trustees thereof to issue bonds guaranteed by state, upon securities thereof, and deal generally in rural credit bonds, Authorizes legislature to effect purposes of section notwithstanding contrary constitutional provisions.

Proposition Number

5

Year

1915

Document Type

Proposition

Pass/Fail

Fail

Popular Vote Results

Y: 124247; A: 48.4; N: 132320; B: 51.6

Election Type

Special Election

Proposition Type

Senate Constitutional Amendment

For Author

William E. Brown, State Senator Thirty-seventh District; L. J. Maddux, State Senator Twelfth District

Against Author

J. W. Ballard, State Senator Thirty-eighth District

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