The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1864-03-25

der and direction of the State Treasurer, for
the benefit of the funds to which such moneys
respectively belong and on the first dav of
August in each year. and at such other times
as he may be requested to do by the said State
Treasurer, each County Treasurer shall pay
over to the said State Treasurer all moneys he
may nave received on account of such funds.
And on the thirticth day of November in
each year he shall report to the Superintcnd-
ent OF Public instruction the amount of mon
eeys SO received during the year, next preccd-
ing, and to what fund the same belongs.
SEC. D. That section AZ of said act be amend
ed so as to read as follows:
Section Al. Before any sale nj auction shall
be allOwtd OF any of the lands mentioned in
this act, the Commissioner of the Land Office
shall cause notice OF the time and place of such
sale to be published in one or more newspa-
pers before said sale, and in one newspaper in
each county in which such lands are to be
sold PrOciaed, That if there is no newspaper
published in the county, the same shall be pub
lished in some newspaper printed in the State.
having general circulation in such county, for
six successive weeks before said sale, and said
notice shall describe the lands by their legal
subdivisions, and by said description shall
they be sold Prorided, That the price paid for
such publication shall not be greater than ten
cents for each description for the whole time
OF publication.
SIC. g. That section 50 of said act be amend
ed SO as to read as follows:
Section 53. All moneys received from the
sale of any of the lands mentioned in this act,
or interest accruing from such sale. shall be
paid into the State Treasury, and the purchase
money so received may he invested in Mime
sofa bonds (RailrOaa Bonds always excepted),
or in United States Bonds, bearing not less
than six per cent interest, and the Governor,
Treasurer and State Auditor are hereby con-
sttuted Board OF Commissioners to invest
FINN cbo11 hn ha Inf If M
State Treasurer to place to the credit of the
respective funds, when received, the interest
SO accruing in said loan, and pay over the same
as directed by law. The bonds purchased in
accordance with this section shall not be
transferable, except upon the order of the
Minnesota School Fund Bond transferable
only upon the order of the Governor"
And it shall be the duty of the State Auditor
to keep a record of such bonds, stating the
name OF stock, when issued, when redeem
able, rate ct interest, when and where pay
able, number and amount of bond, by whom
executed, when purchased, when withdrawn,
and for what purpose, to credit the State
Treasurer for such bonds when purchased and
charge the same to the proper fund.
SEC. Z. This act shall take effect and be in
force from and after its passage.
Approved, March 4, 1864.
AN ACT relating to the University of Min
nesOta.I
BE 1t enacted By the Legislature Of the State cf
Minnesota:
SECTION 1. Section four (4) of chapter eighty
800 of the Session Laws Of 1860, being an act
entitled IAN act providing for the government
and regulation of the University of Minnesota"
approved February, / th, 1860, is hereby amend
ed so as to read as follows:
Section 4. o. c. Merriman, John S. Pills
bury and John NicOls. are hereby appointed
sole Regents of the University of Minnesota,
for the term of two wears from the day of the
passage of this act. Before entering upon the
duties of his Office, each of said Regents shall
give bond to the State of Minnesota executed
by himself, and not less than two sureties, to
be approved by the State Auditor in the sum
twenty-five thousand dollars conditioned for
the faithful and honest performance of his du-
ties as Regent: Said bond shall be filed in the
Office of the Secretary of State.
SEC. 2. Said Regents shall hold an annual
meeting in the month of March, in each year,
and such special meeting as may be called by
the President or by any two Regents.
Sec. 5. Said Regents shall elect one of their
own number President, and a majority shall
constitute q quorum.
SEC. 4. Said Regents are hereby fully au-
thorized and empowered in their discretion, to
arrange, compromise, settle and pay any and
all claims and demands of whatever nature
against the University of Minnesota, or the
Regents thereof, and to that end said Regents
are hereby fully authorized and empowered
to sell at public or private sale, and convey in
satisfaction of any OF said claims or demands
or for cash. or on credit in whole or in
part, any of the lands donated to the State
of Minnesota by the United States. by an act
of Congress. entitled SAN act donating to the
States of Minnesota and Oregon, certain lands
reserved by Congress for the Territories of
Minnesota and Oregon, for University pur-
poses," approved March I'd. 1861.
Proridea horerer, That the whole amount of
lands so sold and conveyed, shall not exceed
twelve thousand acres, and all cOnveyances of
lands after that amount, shall have been con-
veyed, shall be absolutely void.
No one of said Regents shall be interested
directly or indirectly in the purchase of any
lands conveyed under the provisions of this
act. Said Regents may, in their discretion, au-
thorize the State Auditor to sell at public sale
the lands hereby authorized to be sold. or any
part thereof. Ind P'oc.oed further, That if
any person Or persOns.shall purchase any of the
lands mentioned in this act. upon which other
parties have made improvements, they shall be
required TO pay the owner OF said improve
ments their appraised value such value to be
appraised by one of the Regents and the
County Treasurer and Chairman of the Board
of Supervisors OF the county where the land
may be situated. and one half of such appraised
value shall be paid at the time of SALE and the
balance within six months thereafter with in
terest at seven per cent per annum. with
proper security, to be approved by said County
Treasurer. PrOrided, That in appraising inn
prOvements upon any of the lands aforesaid,
the appraisers shall take into consideration
and shall deduct from the value of any such
improvements any waste or damage to said
lands by the parties making the improvements
or occupying the lands.
SEC. 3. COnveyances of land under the pro-
visions of this act, shall be executed by the
President and Treasurer of the Board Of Re
gents, in the name and under the seal of the
University of Minnesota, and such conveyances
shall pass all the right title and interest of
said University, as well as of the State of Min
nesOta, in and to the lands conveyed.
SEC. 6. Nothing in this act contained shall
be held or taken as an admission of the LEGAL
validity of any of the claims or demands afore-
said, or of any obligation to provide for the
payment thereof
Sec. Z. All personal property of every ma.
ture and description, including notes. accounts,
stocks, bonds, claims and demands belonging
to said University, or the Regents thereof, as
well as the proceeds of all sales of lands sold
or conveyed under the provisions of this act,
while the same are in the hands of, or under
the control OF the said University or the Re.
gents thereon, or of any one of them, or Of any
person for them, or either of them, or for said
University, or of any State officer, shall be ex-
empt from attachment. garniShee process,