The independent. (Harrisonburg, La.) 1853-18??, 1858-06-30
/" 10th Sections

Our attention has been very latoI7 called
to an act Of IF Legislature of fl351-charg.
ing the f. .ts, materially OF the eclool
Laws upon the subject cf the per cent
interest ACQUIRING on the sales OF the 1G,h
Sections, and for the Information Of all that
desire it. We have thought proper 10 pub
lish the law in question.
Sections s. & 8. Of ''an act In Relation h
certain Dfjts Of tie .State' approved March
10Th 1857. reads rs follows:
Sec. s. BE it .flrtlcr cnccfed, &c, That
|, the bouds acquired by said exchange, which
may belong to the Free School Fund, slalI
be added TO the asserts now belonging TO
that fund, which shall be perpetual tand
| in trust never to he diverted to any purpose
than that for which it was and is pledged
The interest accruing on said bonds shall
first be applied 10 the payment Of the annu-
al interest due TO the various townships in
the State, 10 be ascertained as provided in
the ninth section Of this Act; the balance Of
The interest collected shall be placed in the
current School Fund, and applied to the
current school expenses.
Sec. 9. Be Il tUrther enacted, &c. Tha. it
shall be the duty Of the Auditor Of publc
Accounts, before the first day Of January
next, to ascertain the amount Of capital and
accumulated interest that may be then due
by the several townships from the proceeds
Of the sales and rents Of The sixteenth sections
actually paid into the Treasury. The amount
las thus ascertained shall be The capital upon
whicl interest shall thereafter be allowed to
the township, the sixteenth sections Of which
have oeen sold and the proceeds actually
paid into the Treasury. No interest shall
ever be added to the capital formed by the
receipts from sales Of the sixteenth sections
subsequently to the lst of January next In
calculating the interest due to the several
townships, no interest shall bo allowed for
fractions Of the year during which the receipts
shall have have come into the Treasury; but
it shall commcuce AT the beginning of the
next fiscal year. The interest due upon the
'Capital ascertained as aforesaid, and the
interest due upon subsequent sales Of the
si2tcenth sections shall bo paid to The sever
al Boards Of School Directors Of the districts
in which the several sixteenth sections lie,
on their own order, approved by the Treasur-
er Of the parish at any timc within two years
after the same shall be due. 1t shall be the
duty Of tie Auditor Of Public Accounts at
the eud Of every fiscal year, 10 notify the
Trcasurers Of ali the parishes in the Stale, Of
the amount Of interest coming to the several
townships within the limits of The parish,
from the interest accrued during the year
then terminated; and at the same time 10
furnish State Treasurer and Superintendent
Of Public Schools with tabular statement
Of the amount due TO each township.
1t seems, that, the object Of this law is TO
consolidate the principal and interest due TO
the State, up to tIe lst. January 1858, from
the sales of l6jh sections, and that the State
will then pay interest at The rate Of per
cent. per annum, ON that time forward, on
the total amount.
In connection with this act, we also, pub
Iisl the 1T section Of the act Of 1858; in Je-
laton to The Free Public Schools. The at
tention Of School Directors are particularly
invited 10 the same CYaij0rHc Dcmocrut.