Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1845-01-30

AN ACT proridirg for the distribution of The Saline
and Bank tar funds among the sereral counties an
this Stale.
sEcrrcS l. Be enacted By The General Assembly Of The
State Indiana, have or NAV
hereafter from saline lands in this State
and all funds that have accrued may hereafter accrue
der the 10th section Of the Bank charter sh be distributed
common school education.
Sec O. 1t shall be the duty Of the Auditor Of Public Ac-
and the Treasurer Of State ascertain om the
respective Offices Of each of
funds in the treasury the first day Of March year.
and distribute the among The several counties in this
State according the number of polls ned
from each county to the office of said Auditor.
Src II shall be The duty Of each county auditor In this
State oider to the Auditor Of Public Accounts
favor Of the OF said county requiring said
Of State issue in favor of county
for the amount Of said funds which may be coming 10 said
county under the provision Of this which said oder Of
the county auditor shall be in writing with the seal Of hi
Office affixed.
SEC The Auditor of State in issuing warrants for the
payment of said funds respective county
shall distinguish between Of the Saline
funds aud those made OF the Bank tax fund and
the county auditors in making OF said funds shall be
careful make proper distinction that the
longing each fund any time be readily ascerained
SEC 3. l. shall be the duty Of the udor OF State upon
the iss ing of the above Immediately certify
to the espccve county auditors the audited in IA
Of toe county treasurer account OF the saue fund and
bank fund respectively, which said certificate shall be
conclusive evidence in all suits said Of
the several counties shall be held liable the inhabitants Of
the respective congressional townships for the
Of portion Of such funds their espec-
tive treasures by virtue Of this act and for the payment Of
the annual interest thereon at the established by law
SEC 6. As the arising from laid fund shall
into the county treasury il shall be the duty Of the Of
cers having the control management Of the common
school funds in each county loan the under the
same rules and regulations prescribed may
be prescribed by law for oaning the schoO
funds and the interest Arising from such shall be dis
trbuted among the townships and applied . other
school funds
SEC T. In no case shall loan from any Of the common
school funds be made unless the tight of DOVER wherever
exists, shall have been surrendered in and oIm
prescribed law.
Src shall be the duty Of the Auditor Of State 10 for
each county auditor the form Of mortgage heretoo
used by him making loans of said fund which form shall
be followed By the county auditor nearly may be-
SEC 9. All loans which may hereafter be made Of any
the school funds shall be without
TO the valuation laws m force but premises
gagged may be sod and the promisoy note given by TN
oTtgagor may be sued the due collected in thu
the present valuation laws had bee
passed.
SEC TO- The compensation to be allowed to the county
auditor and county treasurer respectively for their service
in managing the school funds Of their respective
counties be pei centum up
the paid out and like pes upon the amount
ceived from borrowers but per cenage shall be aowe
on the payment made under this from the State
SEC IL. The county auditors shall respectively have tn
power administer all oaIhs required by law in making
loans of school funds aud may acknowi
edgmenis of the mortgages executed by the borrowers Of
Of said funds for which services they shall receive uc
compensation as is allowed by law to admins
teng oabs and taking Acknowledgements Of conveysnces
SEC H. All laws contravening the provisions Of this
be and the same are hereby repealed
SEC. 10 This act shall take effect and be in force iron
and after passage and shall be the duty Of the Secrea
Of State have the Immediately published in Tn
Indiana Journal and Indiana State Sentinel of whc
papers containing said publication he shall forward TO
county auditor this State and the other he shall
A. C. STEVENSON,
Speaker Of the House Of Representatives..
JESSE d. BRIGHT,
Presidsaf IF the Senate.