OCR Text |
Show STATE FUNDS LOANED ON FARMS Under a statutory provision contained con-tained In tho session laws of Utah of 1911, the sta.to board of land commissioners Is authorized to invest state land funds at 6 per cent Interest, Inter-est, It being provided that' the loan shall be made only on ample security, including Improved farm lands. That fanners J may understand the requirements for securing a loan, tho secretary of the stato land board has addressed a communication to the clerks of the various counties of tho state advising tho Herks regarding the security that must bo furnished on "farm Ioans."r The communication reads: "In making farm loans, this office requires abstracts of title for examination, exam-ination, ns the stato board of land commissioners cannot make a farm loan except on first lien security. You are, thereforo, respectfully requested re-quested to advise this office of tho name of your bounty recorder, the amount of bond and the names of his sureties; also, the nnmes of the licensed abstractors, licensed by -your board of commissioners, the amount of tho bond of each abstractor, and the names of his surety and whether or not the liconse and bond are In force." |