Home loans by state--Debt limitation inapplicable.
The state may establish and
maintain a system of credits for assisting in the building of homes by the people of the state, and
therefor may loan money and extend credit to the people of the state upon real estate security in
such manner and upon such terms and conditions as may be prescribed by general law. The
limitations and provisions regarding the incurring of indebtedness elsewhere found in the
Constitution shall not apply to this section, but the Legislature shall, at the time of incurring any
indebtedness hereunder, provide for discharging same.
History: Section proposed by SL 1920 (SS), ch 35, adopted Nov., 1920.