.

am-uary 20, 1929

. for road 25,ooo.QOlotea 

### purpofma?”



## . **. Tb;o~aeQtachoolfuQdibpawldeJd&**  **200t1oM**

2 and 6 or ~tlole Yxx or the 0oMt1ttlt1oa 

### Mus. 5aatioa2, Art. vff. rea.aa.as rollowm

. . 'All funds, 10zlds end 

### otbrmproperty 

## ht~9t0fora th9tapart and 

## a2proprfetctd rorth0 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 veateclSu 8aSd awutiaa, and uo rdrerae

. paawasou or 1lmltat1oll ahall avor k avsil- 

### able**abydaat**tha 

### title0r 

### 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 

### otharaaourltlar, axd 

### undersuoh reatrictloua as wy.lm preaorSbed **by law;**  **aad tba**  **ootmtitfa aJmll**  **ba rauponalbla**  ior **all Savaatawnta;** **tlia lntaraat**  theram, **and** other ravauua, 

### axoeptthe Frluolpd shall ba **.j:** aralXabla fluid.* . Thsa last quoted 

### pra&ion or thaaondltaw tlou,2eo.6,ntLVII, weeadopted 

### 08ana~mWntSa lB&5. Irr.tha

aaao OS Boydatuave 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**  

### 7l6loaor thamBatltutioli 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.aturenlrht**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, -nhiohIs pexmaent rohool fund 

### monoy,we "to be invested lr; land8 of . . . aouIltlooin said Stete. . . under suah rastrlotiana ns my ba preuorlbed by 13~". 

### That lwogo olaarlp zwilasthnt a oouaty say lnveat its 

## permanent**Hon.** :'llliw C. 203xmld, F'obruory2C, 3939, Porn S

. school funil3a 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& lahrtlole 2aa4 or **tho Ra**  viaad Civil statutoa 

### ot.Toxuo, **viblob aafar**  **Taob** oounty zanysell or 4'~s~ of the lfmla .-ranted

to it ror 

### eduoatiomlpurpowa lnauohzmnaoraa~y~#ldedbytbotbe misolowra' oourt of.auob oouuty lma tha prooaeCaofauyauoha3lo ahall- imeatad in _ bon08 

### of tha UuSta6 states, 

### tho State 

### OS **Taxoa,** 

### th4 bondsOS 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 

### oouutyalouo 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 

### tbiamousy ah& ba Suvwto& su oertalu bouds lnolua~ "tba bon48 of tha 

### oumtloe OS thastnta"~ ha 15 

### oartn%nLy no'reatrlotlan

or lidtatlonaatouhatommtybon4armybe~t. %bmlSmO



### tto~imoatthlambnoylnltaown

. to%i% kthaaa t 

### h+ the rl@t 

### to lutoat 

### St lubw68

v 

### ofotbor

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** 2t3tt3of Tezm. or oountlea io aela 

### rhnte,or In 3uoh other soourltioa and tnxlor nuab 

### rcatrlotlom38my bopmcor bod 

### 1 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 plXI**  **o0oda la**  It22**oxu bonds.-** t3ohQol rmla la oertaln co~ohe t?ountybaaa was ottaokoa, eml~~aCoart ot Civil ApP?mls held that the babd~ wra .*

. . . ror Kllntof 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,

1~0do not tlxlnk

### that the oaao of **Cowwohg** ._. **county** Vb stattlrpsnt

ia