The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1858-05-08

bidder, subject TO the provisions of this
act, and shall sell upon the following
terms, to wit: One third Of tie purchase
money to be paid in advance, aud the
balance on credit not exceeding ten
years, bearing interest at the rate Of ten
| per cent. per annum from the day #
sale until paid, which interest shall ba
payable annually at he office of the coun-
ty treasurer ot said county on the first
day of January of each and every year;
| Iroosde0, 0trays, that the said lands
appraised as aforesaid shah not be sold
for less than their appraised value; And
pfortded also, that the said county Judge
receive, when desired by the purchaser,
the whole OF the purchase money in ad-
vance; And proeided also, that neither
the county judge nor any tow wnship trus-
tee OF the township in which any land
SO sold may be situated, nor any person
having anything to do with the allotment
or sppraisement thereof, shall be either
directly or indirectly interested in any
purchase OF the same, and in case the
persons above enumerated in suoh pur.
chase, then said sale is declared to be Void
and Of no effect.
~. If any purchaser shall pay the
whole amount OF the purchase money at
the time OF the purchase, the county
judge shall forthwith issue a certificate
of purchase. setting forth that fact,
which shall be transmitted to the State
land office, and entiiln the purchaser to
patent which shai! be issued by the go
vernon.
II. In case the Iapds are purchased
upon partial credit AS hereinafter au-
thorlzed, the contract Of purchase shall
be Immediately reduced to writing, sign
ed By the parties, aud fled and recorded
10 the office of said county treasurer, and
during the continuance Of such contract
1t shall be lawful for such purchaser, his
assignee or heir, at any tine TO pay the
prlnci pal aud interest due upon such
contract and receive a certificate Of pur-
chase as mentioned in the preceding sec
ton.
-. When in the Judgment of the
county judge and township trustees, any
school lands in the township of the lat
ter which they are about to offer for
sale, are of a description as that sale OF
the same upon prtjal credit would be
unsafe or incompatible with the interest
OF the school fund, and the preservation
thereof from waste and especially in the
case of timbercd lands, the value whereof
consists chiefly in the timber growing
thereon, the said county judge and town
ship trustees may in their discretion ex-
act the whole of the purchase money in
advance, or if they sell such land upon
partial credit as hereinbcfore provided,
it shall be their duty to require good col
lat~ral security for the payment of the
residue Of the purchase money upon the
terms agreed upon.
5 Is. Whenever any purchaser of any
school lands sold under the provisions of
this act, who has purchased the same un-
der partial credit, or any person TO
whom a portion of the school fund has
been loaned fails to pay the interest
thereon according to the terms of his
contract, on the first day of January, he
shall incur penalty Of two per cent
upon said interest, and in case he shall
fail to pay said interest on or before the
first day Of February, he stall incur an
additional penalty of two per ccut on said
interest and in like manner an additional
penalty Of two per cent. shal! be incur
red for every month any delinquent may
fail to pay the interest due from him un-
til the same IS paid, end if said interest
is not paid at the end OF six months, it
shall be the duty Of the county treasurer
TO report the name Of tie delinquent to
the district attorney of the Judicial dis
trict in which the county is situated,
who shall Immediately commence suit for
the collection Of the said interest.
SIT. All those school lands, the sale
Of which are provided for under this act,
shall become taxable in the hands of the
purchaser or those who represent him,
from the time Of the execution and de.
livery Of the contract to purchaser.
SIS All lcontracts relative to the sale
Of school lands o every description pro
vidcd for III this act, shall be subject to
the laws that may now or shall hereafter
be n force in this State relative to the
prevention or punishment of waste
S19. It is hereby made the dutv Of
the township trustees in each township
70 see that no waste be committed upon
any school lar ds lying in the township,
and il case any such waste be attempted
1t shall be their duty to apply b. petition
to the district court or to any Judge there
Of, for an injunction to stay waste, and
the same if granted shall be without
bond and shall stand for trial first in Or
der upon the court docket, the same shall
be tried in a summary way, and upon
such trial the said township trustees shall
be competent witnesses. The court may
make such order n the premises as shall
be agreeable and calculated to secure the
school lands from waste or destruction.
AID may adjudge damages to the town.
ship trustees against the party for in JUS
tice done in such cases, the costs shall
abide the eveat OF the suit, and the dam
ages shall be paid 10 the county treasur-
er and constitute g part Of the permanent
school fluid
$50. The provisions Of section nine
teen are hereby made applicable to all
purchasers Of University lands and bor-
rowers Of money fron the University
fund.
SCI. 1t shall be the duty cf the Reg
lister Of the State land Office 10 transmit
to the county Judge of each county in
which any part Of the 100000 acre grant
may be situated, list Of all of said lands
in his county, with the appraised value
Of each tract, strting what tracts or parts
Of tracts have been sold and what re.
mains nnsnld and II sh I'll he The ne