2015 Assembly Joint Resolution 5
ENROLLED JOINT RESOLUTION
To amend section 1 of article VI, section 3 of article VI and sections 7 and 8 of article X; and to create section 17 of article XIV of the constitution; relating to: deleting from the constitution the office of state treasurer (first consideration).
Resolved by the assembly, the senate concurring, That:
Section 1 of article VI of the constitution is amended to read:
[Article VI] Section 1. The qualified electors of this state, at the times and places of choosing the members of the legislature, shall in 1970 and every 4 years thereafter elect a secretary of state, treasurer and an attorney general who shall hold their offices for 4 years 4-year terms.
Section 3 of article VI of the constitution is amended to read:
[Article VI] Section 3. The powers, duties, and compensation of the treasurer and attorney general shall be prescribed by law.
Sections 7 and 8 of article X of the constitution are amended to read:
[Article X] Section 7. The lieutenant governor, secretary of state, treasurer and attorney general, shall constitute a board of commissioners for the sale of the school and university lands and for the investment of the funds arising therefrom. Any two of said commissioners shall be a quorum for the transaction of all business pertaining to the duties of their office.
Section 8. Provision shall be made by law for the sale of all school and university lands after they shall have been appraised; and when any portion of such lands shall be sold and the purchase money shall not be paid at the time of the sale, the commissioners shall take security by mortgage upon the lands sold for the sum remaining unpaid, with seven per cent 7 percent
interest thereon, payable annually at the office of the treasurer as provided by law
. The commissioners shall be authorized to execute a good and sufficient conveyance to all purchasers of such lands, and to discharge any mortgages taken as security, when the sum due thereon shall have been paid. The commissioners shall have power to withhold from sale any portion of such lands when they shall deem it expedient, and shall invest all moneys arising from the sale of such lands, as well as all other university and school funds, in such manner as the legislature shall provide, and shall give such security for the faithful performance of their duties as may be required by law.
Section 17 of article XIV of the constitution is created to read:
[Article XIV] Section 17. The state treasurer holding office on the date of ratification of the 2015-17 amendment providing for the deletion of that office from the constitution shall continue to hold that office until the first Monday of January in 2019. Any vacancy in the office occurring before that date shall be filled in the manner provided by law.
5. Numbering of new provisions.
If another constitutional amendment ratified by the people creates the number of any provision created in this joint resolution, the chief of the legislative reference bureau shall determine the sequencing and the numbering of the provisions whose numbers conflict and adjust any cross-references thereto.
Be it further resolved, That this proposed amendment be referred to the legislature to be chosen at the next general election and that it be published for three months previous to the time of holding such election.