Page:Idaho State Constitution 1889.pdf/99

11

99 sub-divisions not to exceed one hundred and sixty acres, to any one person, company or corporation.

Sec. 11. 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.