The Iowa transcript. (Toledo, Tama County, Iowa) 1858-1866, 1860-02-16

miles Of its line and % On ustii the
Road is completed.
If the Road is aot completed u tss
years, all lands not then sold, revert -
the United States, whatever other dispe-
sition of them may have been made, Or
attempted to be made, whether b. the
State, or by any beneficiary Of the State
grant.
These are tho fundamental Limitations
and conditions imposed BY the United
States, and unalterable BY any other au'
tLority, and expressly accepted BY this
State; which is bound by its honor, by
its dignity, and by its compact, to carry
them out in good faith.
| The State Of Iowa, however, being
thus invested with the restricted centroi
Of these lands, accepted the grant "up.
on the terms, restrictions, and conditions,
contained in said act of Congress, and
imposed further conditions IN connec-
ton with her contract Of sale and des.
ignation of the corporate beaehciaries OF
the grant This was expressly aone,-
as stated in the title to the Act, to &C.
cept Of the grant and carry into exscu-
ton the trust
t The State designated the Iowa Central
Air Line Railroad Company, - body
corporate, created and existing under
the laws Of "Iowa,' as the recipient Of
50 much Of the lands, rights, &C., ss
were granted TO aid in the construction
Of the And parallel Road, provided this
company would accept it upon the terms
proposed.
The State further imposed upon this
Road, (and every other Road, the sx-
press conditions, !: that in case it should
fail to have completed and equipped,
seyentylfve miles Of its Road ,oithin
three gears from the first day Of December
1856, thirty miles in addition in each
year thereafter, for five years, aud the
remainder Of their whole line Of Road in
one year thereafter, or on the first day
Of December, 1865 then the State
could resume all rights conferred upon
the Company, and resume all rights to
the lands granted, "aaa remaiaing a*-
disposed Of By the Company SO failing to
hare TIE length IF the Road completed in
manner and time as aforesaid
Each company was required several'y
"to assent to and accept the provisions
Of this Act, By written instrument"
unde, corporate seal, and with official
signatures ; and this acceptance vas to
be filed in the Secretary Of State . Office,
and there recorded. All these terms
and conditions were in fact accepted by
this company. Every company thus
accepting this grant was required 70
take the same with the conditions i'm.
posed and membranes specified in this
Act provision added to the Law, ap-
parently. to give it the full force Of IN
express contract, and Of public law,
combined.
The first legal conclusion derived from
this review Of the Law is, that the State
Of Iowa was the holder Of the entire le.
gal title to said Railroad lands, in trsst
for a specific purpose, and subject only
to contingent revcrsion to tho United
States At the expiration Of ten years:
SECOND: That the State was empsw-
cred to designate and contract with the
benefciaries Of this grant, whethsr cor
porations or individuals.
THIRDLY: That the bene6ciariss Of
this Act, when designated, a. we'll as the
State herself, could only use and apply
the grant fora specific purpose, and 10
specified manner; and was bound to
observe the restriction as to salss, .
imposed by Congress, whether also e..
acted By the State Or not.
| FoURrHLY: That ths State Aa1 Tho
power, coupled with the duty, to secure
this purpose BY proper legal guarastiss.
either BY force Of contract, Or Of public
law, or both.