. 

am-uary 20, 1929 

. for road 

25,ooo.QO lotea 

purpofma?” 

. . Tb;o~aeQtachoolfuQdibpawldeJd& 

200t1oM 2 and 6 or ~tlole Yxx or the 0oMt1ttlt1oa 

Mus. 5aatioa 2, Art. vff. rea.aa.as rollowm 

. . 'All funds, 10zlds end otbrm property 

ht~9t0fora th9t apart and a2proprfetctd ror th0 

support oi? publlo.aohaole; 833 the ultaraate 

seat¶..c~ of lmnd raawved by the St&o out of 

g%%nts herctofora mde or that zwy hermftar 

be aada to rallro.las ar other aorporatlana of 

aty nature srfrstsoever; czie-hslf of the Tublio 

r;oinrllzl or the swita; irnd Ull' Dums or .zoJley 

that zmy cicmo to the Stste from the ~420 of 

my prtial uf tha oa.a, 6hd.1 oonrtitute a 

parpetucrl pe.110 SChWi fund." 

sao. 6. A-t. VSI. rwda in part ‘9s follow4t 

-All LArt;Ls horotofora, or bersdtsr 

~~ant+d to the bemmal o.untioa or #%a 3ta:ed 

, . 
;.,.. 

!i,,& * I‘ .‘\ - ,... 

c- . ,’ i . . . -_ 

: . .: . . _ 

. 

. 

Hon. .%fllan C. Wikmsld, februsry~20, 1939, 5%~ 2 

. . for aduoatliursl pu~oaea, are ot rlpht tbo 

F-m Oi aald O-t%88 l'88~OtlV8ly, to 

uhloh theyorora mtiod and tltlo therato 

is veatecl Su 8aSd awutiaa, and uo rdrerae 

paawasou or 1lmltat1oll ahall avor k avsil- . 

able abydaat tha title 0r say uouaty. xaob 

00my 338~ 8di 0r as8p080 0t it8 land8 in 

whole or iti part, in maaaec to be provided 

by the ooannlaslonara' mul!t of the aouuty i . ;. 

aald lamla, au6 tha proowda thoraos, wlmn aou,; 

shall bu bald By aald aountlaa aloaa 88 a trust 

ior tb8 b8wrst OS pubii0 aohaa tomb: 8Jia 

proowla to bs lmoatad la boada of tha United 

statea, tha stata of 2axoa, or oowtlaa su 

acid atats, or in auah othar aaourltlar, axd 

under suoh reatrictloua as wy.lm preaorSbed 

by law; aad tba ootmtitfa aJmll ba rauponalbla 

ior all Savaatawnta; tlia lntaraat theram, and 

other ravauua, axoept the Frluolpd shall ba 

.j: 

aralXabla fluid.* . 

Thsa last quoted pra&ion or tha aondltaw 

tlou,2eo.6,ntLVII, weeadopted 08ana~mWntSa 

lB&5. Irr.tha aaao OS Boydatua ve 8oolarall Gown*, 86 2~. , 

234,24ss,lL272,whioh oowaruad oulytha lnT48taKdOS 

a Uouat~*apqrnm~nt 8dhoalSuuU iotR& boadaof wothar 

oamuty,. th8 alpram aourt OS 2awa aowauto(L 011 ws pro- s 

7l6loa or tha mBatltutioli aa followa: . 

To al-8 of o*lnsoi, thamfora that tha 

I'awuded 8eotSou was lntamlad to ooker authorl~ ' 

. Vhi6er auoh 0th~~ roatrlotlona . 

aa~y~.preaoribeJ,~lsrr'~~thrrtths 

ls~m.ature nlrht throw raotrlatloM - th8 

Invoatwnt, and not that it ~88 bound to do so 

before t&e powr .oould b8 oxaroiaed.* 

The 1aa&o(ys of 900. 6, Art. VXI. la plain and 

anonbf@ou8. It aaya that the pracaadn trcm the 8.10 or 

sohool lands, -nhioh Is pexmaent rohool fund monoy,we 

"to be invested lr; land8 of . . . aouIltloo in said Stete. . . 

under suah rastrlotiana ns my ba preuorlbed by 13~". That 

lwogo olaarlp zwilas thnt a oouaty say lnveat its permanent 
Hon. :'llliw C. 203xmld, F'obruory 2C, 3939, Porn S 

. 

school funil 3a tba 8onda of say and all oouu~loa or ths 

wlaua [no atu~d la Eoydatun 9. Rookamll County, 

the Lqdolatum has thrown rebatrlotlona wound the 

Tha only krwucufa that ** 04n tlnd in the 

stieatos whomin the ~oaialattm hns suld how aad where 

thla mxley shall ba illreSt& la hrtlole 2aa4 or tho Raviaad Civil statutoa ot.Toxuo, viblob aafar 

Taob oounty zany sell or 4'~s~ of the 

lfmla .-ranted to it ror eduoatioml purpowa 

lnauohzmnaoraa~y~#ldedbytbotbe 

misolowra' oourt of. auob oouuty lma tha prooaeCaofauyauoha3lo ahall- imeatad in 

_ 

bon08 of tha UuSta6 states, tho State OS Taxoa, 

th4 bonds OS tba oountlsa of tha 3tnt0, curd tho 

iador-t Or 

oomm aohool dlstriOt8, road 

pro0 0t, &alna~, IrrlcatSoo, natlmtion mrd 

lOma Untriota in thla Stata, and tha boado 

of lnoorporatoaoltlos aadtownE,mld holcrby 

auoh oouuty alouo so a trust for tha bofmflt 

at publlo traa aahMb therob, sly the bitarC 

aattharoouto bausod ati orL"pood annually." 

ml8 it.atute nltarfstoa that tbia mousy ah& ba Suvwto& 

su oertalu bouds lnolua~ "tba bon48 of tha oumtloe 

OS tha stnta"~ ha 15 oartn%nLy no'reatrlotlan or lidtatlonaatouhatommtybon4armybe~t. %bmlSmO 

tto~imoatthlambnoylnltaown . 

to%i% kthaaa v t h+ the rl@t to lutoat St lu bw68 

of otbor ooulltlel. 

*. 

_’ 

,: 

:. 

-_ .- . . 

‘. . 

Ia~&tp thfa opinion w act ~ooutroatod with 

the stat*& lo 37 To%. Jur. 86l, as tollowar 

-?han the pmasada oi tho aala ot wuuty 

lands ar0r0oolro4bytheoomPi~lonere~ 00urt 

it io tha duty.ol.tha oourt thaxmf'ter to lavest tbe~asme ao.direotod by the Conatltution. ' 

It 1s provldod (art.7, boo. 0). tbot the proooeda still 'bo lnvcstcd ?n botis oS.ths lsnitcd - 

Stntea, tho 2t3tt3 of Tezm. or oountlea io aela 

rhnte, or In 3uoh other soourltioa and tnxlor 

nuab rcatrlotlom 38 my bo pmcor 1 bod by lm; 

MC the oountloo shall bo miponolble Sor 3ll 

~voatmnta; tho intorost thoreon, and other 

zzmv&y': oxoopt tbo prlnoipal shall be =milubl. 

.xthwlty to invitst the jxoooeda 8houU 

be exerulsod by the oo”mio~ionora~’ oourt . . . 

_ 

WA otnmty hso no gor.or to invast. thb plXIo0oda la It22 oxu bonds.- 
t3ohQol rmla la oertaln co~ohe t?ounty baaa was ottaokoa, 

eml~~aCoart ot Civil ApP?mls held that the babd~ wra .* 

. . . ror Kllnt of any allthortty for thalr lssu- 

_a enoo'; end asauondsr?ltaad lttboooorti#Ld that itweu 

lmpropet tar the cowlsalow~ to lnvoet the ooaat~‘6 

: 

gomenont aoboo2 fun6 in thoso Invalid bonds or wy 0th~' 

lanuid hondo hoomu~e of the faot of tholr lnvell6ltT. C' 

Thorefortt, 1~0 do not tlxlnk that the oaao of Cowwohg 

._. 

county Vb 

stattlrpsnt ia