The State guard., 1848-03-28
X N ACT
TO REGULATE PERMANENTLY THE SIX
 TEENTH SECTION FUND,

| AhH-Nh IT oENl1O&s rCNDs
 Sec.1. Be I enacted by the Senate and House of Representatives of htc State of 1 Alabama, ia General Assembly conuened, That all moaies arising from the sa ofle the sixteenth sections which have been received by the Bank of the State of Ala bama, or any Branch thereof or which shall hereafter be received by the State of Alabama, shall be and the same is here- by vested in the State of Alabama, as true. tee for thescVeral townships.
 Sec. ?. Be A further enacted, That all monies which have beee in any manner realized from the sale of sixteenth sections, or may be hereafter realized from such sales. are hereby required to be paid into the State Treasury, for which certificates shall issue as hereinafter provided.
 Sec. 3. And Dc t further enacted. That it shall be, and it is hereby made the duty ofthe Commissioner, Trustee, or whoso- ever may have the legal control of said Bank and Branches, to make or cause to be made, rehoh to the Comptroller of Public Accounts setting forth and showing the amount of money received by said Bank and the several Branches thereof, or to any agent, attorney, or other officer thereoffor or on account of, each township in the State {; and when tho same was received; and also setting forth and show ing what notes taken upon the sale of six teenth sections have at any time been pla- ced in said Banks ]; and what disposition has been made of each of said notes. and the present condition thereof; specifying the notes taken for each township; and shall also in said report. set forth what amount of interest," if any, is due to each township on what account, and from what date-whicl said report shall be made within six months from the passage fths act.
 Sec. 1. Aud Dc a further enacted, That upon such report being made to the Comp trollen he shall, within thirty days there- after, certify to the Governor, the amount received for each township; and thereup- on it shall be the duty of the Governor to issue to the commissioners ofthe sixteenth sections in the several townships, certif- cates, showing the amount received from and on account of such township; which certificate shall be in such from as the Governor may direct, and shall be signed by the Governor and countersignd by the Secretary of State, and shall have the seal of the State affixed thereto. Propided, howcrer, where townships are divided by county lines, the certificate shall be made out to the county having the largest portion of said township. And prorided further, That an additional certificate shall he issued annually, to each county, as above provided for, whenever any additional sixteenth section moneys may be collected and paid.
 Sec. 5. And Dc it further enacted, That the Secretary of State shall keep rcgis- try of each certificate thus issued, which certificates shall be transmitted to Clerks of the County Court of each county, who shall make copy thereof, in book to be kept for the purpose, and shall deliver over the originals to the proper Commission CT.
 Sec. 6. And be # further enasted, That the Tax Collector of each county, shall annually deposit with the County Treas urer thereof a sufficient amount of money to pay the interest that has accrued on the certificates of stock issued as heretofore provided, to the Commissioners of the six. teenth sections of the county, and shall take the County Treusurcr's receipt there. for, which receipt, certified by the Clerk of the County Conr to be genuine and by the proper officer. shall be received by the Treasurer ofthc State from said Tax Col lector, in payment of taxes collected by him.
 Sec '. And De a further enacted, That the Commissioners o. the several townships in each county, shall draw from the Treas urer the interest so deposited in the com- ty, to which their several 16th sections may be entitled, in the same manner as by law they arc authorized to do from the State. sx
 Sec. 8 And Dc t further enacted, That said certificate shall bear an interest at the rate of six per cent. per annuni, paya- ble semi-anually from the date of said certificate.
 Sec. 9. And De u further enacted, That the Commissioner or Trustee of said Bank and Branches, shall pay all arrears of in- terest due to any sixteenth section up to the date of said certificate, tffF
 Sec, 10. And De i fiuther enacted, That the Commissioners of the sixteenth sec. tions in the several townships may extend any debts now due (whether the same shall be in suit or otherwise) such town ships, on account of the sale of the six teenth sections, for four years, by taking new notes with two good securities which note shall be made payable to the Governor and his successors in office, and deposited with the Comptroller of Public Accounts, who shall give his receipt for such notes. ga3 e fas .h5A eB .s,,N
 Sec. II. Aud Dc t further enacted, That when a sixteenth section shall hereafter be sold, the notc or notes shall be made payable to the Governor and his success ors in office, and shall be deposited in the office of the Comptroller of Public Af- counts, who shall give his receipt for such | not