The Iowa transcript. (Toledo, Tama County, Iowa) 1858-1866, 1860-11-08
LAWS or
II % w. -
ID y A n { h GRITTY.
CHAPTER l62.

AN ACF providing for the martage.
mcnt of the School Fund and the sale
of the school lands.
Sec l. BE It enacted by the Gen
eral Assen,bly qf the State Of Iowa
That the following are hereby declared
to be and remain perpetual funds fo1
common school purposes, the interest
of which only, can be appropriat
ed.
lst-The FIVE per cent upon the ne'
proceeds of the.pdblic lands in the State
Of Iowa.
2nd-1'he proceeds Of the sales o.
the five hundred thousand acres o.
land, which were granted to the State
Of Iowa, under the eighth section O
the act Of Congress, passed September
the 4th, A. d., ls4l, entitled ian &C,
to appropriate the proceeds Of all sale.
Of public land and to grant pre-emptior
rights.
3d-Thc proceeds Of all sales Of in
testate estates which eschcat to the
State BY reason of their being nc
heir.
The proceeds of the sales of the six
tccnth section III each township Of tho
State, or lands selected in lieu there
Of.
Sec. 2. The following are declared
to be and remain temporary funds fo1
common school purposes, to he receiv
cd and appropriated annually in the
same manner rs the annual interest OF
the perpetual fund.
lst-All forfcitures of ten per cen,
which by the laws of this State, arc
authorized to be made for the benefit
Of the school fund.
2d-Thc proceeds Of all fines collect
ed III the State for violations Of tn.
penal laws.
3d.The proceeds Of all fines col
lcctcd for the non-performance Of mill
tary duty.
4th-The proceeds Of the sales Of los,
goods and cstrays.
Sec. 3. The five per centum Of the
net proceeds of all sales Of the public
lands in the State, is hereby made pay.
able to the State Treasurer, whose du.
,y it shal! be to apportion the same
among the several organized conntic.
in this State, taking into consideration
the amount of the permanent schoo
fund already in possession Of said
counties, SO that each county may hold
All amount ofschool fund proportionate
to its population.
Sec. 4. Those portions Of the per
mancnt School Fund enumerated il
the second and fourth subdivisions o
section one of this act, ara hereb,
made payable to the County Treasurer
Of the county in which the lands sole
are situated, and the proceeds Of sub
division third Of section one of this ac
are made payable to the Treasurer o
the County where said escheated es
tates are.
Sec. s. The temporary funds etit,
merated in section two Of this act ar,
hereby made payable to the Count,
Treasurer Of the several counties il
which they are incurred or arise re
spectively, which shall be accounted
for to the Board Of Supervisors Of sait
county who shall apportion the SAM
among the several school districts o
said county, as provided by lew.
Sec. 8. On the first Monday Q
March annually, the State Auditor sha1
apportion the interest of the permanen
school fund amongt the several organize
counties Of this State, in proportion t
the number Of persons between fv
and twenty-one years Of age in each
and in order to enable him to max
such apportionment, II il hereby mad
the duty of the Secretary Of the Boar'
Of Education to report to said Audito
on the first Monday Of February, an
nually, the number of such persons il
each organized county as shown B,
the reports from the several count
Superintendents.
Sec. Z. The Clerk of the Distric
Court shah Annually, ON the fist Mon
day of February make ont and trans
nit to the State Auditor, ! report q
the amount Of interest then in tn
hands Of ths T5easurer Of said county