The Arkansas banner., 1846-12-30

\ true copy.
 D. E. GREER, Secretary ef .Srgte.
 AN ACT
 To authorize the Land Ageai of the State of Ar. kansas to dispose Of the Seminary Lands
 Sec. l. Re t saacfsd bg the Gsasraf .7ssembIy ot Inc Sldte of .8rkaasas, Thas tie Land Agent au- thorlzcd by the provisions of the law nov in force m hs State ie sell any of the public iauds belong ing to ssid State, be, and he is hereby appointed Agent, with full power to sell and dispose of the residue of the sesentytwo sections of land granted to the Territory, now State, of Arkansas by an act ot Congress, approved the 2d day of May, lS27 fol ihe purpose of erecting seminary ot learning. See. ?. Be | fsrtber snaOied, That the said Land Agent IS hereby authorized to sell and dispose oI any of said seminary lands which yet remain tn. soid in legal subdivisions of not less than hail quarter section. at pfivdte eHtHs a e price of oui dollars per acre, the purchaser purchasers there ot giving bonds, with good security. to the Cover nor of the State Of Arkansas, and his successors n office for the use Of said Seminary Gnd, payable n par funds, on credit Of one twos three, four and five years; the said notes craving interes, froln the date thereof at the rate Of sea Der een,um per as. mum.
 Sec !, Be t fisFtAer eaaeisd Ina, il shalt be the duty of the said Land Agent, upon the sale of any of said lands 10 grant. to the purchaser thereof. certificate Of purchase specifying the lands so en- teFed.
 Sec. i. Be u fUrfAsr eaaeted, That when any purchaser of any ot said lands shall have eompieted the full payment for any of said aDds with all in. terest and costs that may have accrued thereon, then it shall be the duty of the Governor of the State of Arkansas and he is hereby authorized and reqni red to make and execute, to said purchaser thereof fee simple deed thereof, according 10 the provs- ions o the act of the Legislature of this State ap- proved 2Sth December, iSta.
 k Sec. 5. Be t further enacted That the said Land Agent is hereby fully authorized and empowered to collect and enforce the payment of all notes other writings obligatory, given for the purchase of any ol said seminary lands, and receipt therefor.
 Sec. G. Be ,a further eaacted, That in the coIec- ton of any of said notes t is necessary to institute suits therefor, t shall not be lawful for said Agent to pay for the same more than five per cent for the amount really collected out of said fund.
 Sec. 2. Be d further enaeted, That all of said lands, which shall remain unsoid, at the expiration of twelve months from the passage Of this act shall be subject to entry with the said Land Agent at the graduated price of three dollars per acre. and after two years then at two dollars per acre. and no low CT; the purchaser thereof giving bond and security as provided in this act.
 Sec. s. Be Il fariher snaciea That It shall be the duty of said Land Agent to deposit the proceeds arising fotn the sales of said lands as fas, the may be realized and come 10 his bahds, in the State Treasury of this Slate to the credit of the University fund and the said Agent shall take du- plicate certificates of deposit from the said State Treasurer, for all moaeys deposited, and shall file of said certificates with the Auditor of State and t shall be the duty of said Auditor 10 report at the next Legislature thereafter, the amount of said fund.
 See, 2. Bs Il further enacted, That all laws in conflict with this act, be. and the same are hereby repealed. and this act shall take effect, and be in force from and after it's passage
 A. RUST. Speaker
 of the House of Representatives.
 ". K. SEBASTIAN,
 President of the !Senate. Approved, Dec. 2sd, lsis.
 THo's s. DREW A true copy:
 D. B. GREER, Secretary of Siafe