The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1860-07-05
VOL. VII:

and place, or at such other time and place
as the sale may be adjourned to, he shal
offer to the highest bidder, subject to the
provisions of this act, and shall sell it up
on the following terms, viz: Either for
cash, or one third of the purchase money
to be paid ut the time of purchase, and the
balance on credit not exceeding ten years
with interest on the same at the rate of ten
per cent. per annum said interest to be
paid at the office of the County Treasurer
of said county, on the first day of January
in each and every year; but in no case shall
the land so offered be sold for less than its
appraised value-nor shall any member OF
the Board Of Supervisors, the Clerk of the
District Court, any township trustee, or
any person who was engaged in the divis-
ion and appraisement of said land be direct
ly or indirectly interested in the purchase
thereof, and any sale made, where such par
ties or any Of them are so interested, shall
be void and of no effect.
S IL. II any purchaser shall pay the
whole amount of the purchase money at the
time of the purchase, the Clerk of the Dis
trict Court snail forthwith issue certificate
of purchase, setting forth that fact, which
shall be transmitted to the State Land Of
flee. and entitle the purchaser to patent
which shal! oe issued by the Governor.
IL. In case the lands are purchased
upon partial credit, as hereinbefore pro-
vided, the contract shall at once be reduced
to writing, signed by the parties, and re-
corded in the Office Of the Recorder, after
which it shall be filed in the office of the
Clerk of the District Court, and during the
continuance of such contract, it shall be
lawful for such purchaser, his heir or as
signce, at any time to pay the principal
and interest due upon such contract, and
receive a certificate ofpurchase, as mention
cd in the preceding section.
s l3. When in the Judgment of the
Board of Supervisors, any school lands
which they are about to offer for sale, are
of such character that sale upon partial
credit would be unsafe or incompatible with
the interest the school fund, and especial.
ly in the case of timbered lands, the Board
Of Supervisors may, in their discretion, ex-
act the whole Of the purchase money in ad-
vance or if they sell such land upon par.
tial credit, as hcrenbefore prescribed, it
shall be their duty to require good collate-
raj security for the payment ofthe purchase
money upon which credit is given.
s ii. Whenever any purchaser of any
school lands sold under the provisions Of
this act, upon partial credit, or any per-
son to whom portion of the school fund
has been loaned, fai,s to pay the interest
= he. Il l, Il. G.,
him, Oh the first day of January, aud such
payment is not made within six months
thereafter, then, and in that case, the entire
amount both of principal and interest ow-
ing to the school fund from such person,
shall be deemed to have become due, aud
the Clerk of the District Court shall report
the name of the delinquent. together with
the sum total due from such delinquent to
the District Attorney of his Judicial Dis
trct, who shall immediatel y commence
suit for the collection of the amount thus
reported. The provisions of this section,
in so far as they provide for the principal
owing for the purchase Of school lands, or
for money borrowed from the school fund,
becoming due and being collected at I'LL ear
lcr day than that stipulated in the contract,
upon failure to pay the interest, are hereby
declared to be part of every contract
made under and by virtue of this act, wheth
cr expressed in such contract or not.
s Is. All school lands, the sale of which
are provided for under this act, shall be
subject to taxation from and after the exc
cution and delivery OF the contract to the
purchaser.
s l6. All contracts relative to the sale
of school lands provided for in this act, shall
be subject to such laws as now are, or may
hereinafter be in force i'll this State. rela-
tive to the prevention or punishment of
waste.
s II. It's hereby made the duty of the
township trustees in each township, to see
that no waste be committed upon any
school lands lying in their township, and in
case any such waste be attempted, it shall
be their duty to apply, BY petition, to the
District Court, or to any Judge thereof, for
an injunction to stay waste, and the same,
if granted, shall be without bond and shall
stand for trial first in order upon the court
docket the same shall be tried ia sum-
mary way, and upon such trial the said
township trustees shall be competent wit
nesses. The court may make such order
in the premises as shall be equitable and
calculated to secure the school lands from
waste OF destruction, and may adjudge
damages to the township trustees, against
the party for injuries done in such case !;
the costs shall abide the event of the suit,
and the damages shall be paid to the coun-
ty treasurer, and constitute part of the
permanent school fund.
s 1S. The provisions of section four
teen of this act shall be Of force as far as
applicable to all cases where land is pur-
chased, or money borrowed from the Uni
versity fund, and in case of delinquency
rs provided for in said section, the Treas
urer Of tho State University shall make
the report therein required to the Dis
trict Attorney of the district where the
party 50 purchasing or borrowing resides,
or where the real estate given as securi.
ty for said purchase or loan is situated.
10. When, in the opinion Of the
Board of Supervisors, it may be neccssa.
ry to have portion of the school lands
stated in this act within their county
surveyed, they may employ the county
Surveyor for the purpose, who shall be
paid out Of the county treasury upon
proof made of the request and perform
ance Of the service.