The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1866-07-26
JAMES WRIGHT, Secretary Of state
CHAPTER II.

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Relating 10 Sale and Lease Of Lands belong
ing to Stdfe agricultural College.
AN ACT authorizing and regulating the sale and
lease of lands belonging to the Iowa State
Agricultural College.
SECTION l. Be IL enacted BY the Geaerot A.@ep-
ttylof the State Of foea, That the Trustees of the
Iowa State Agricultural College and Farm, are
hereby authorized TO sell or lease ali of the lands
granted to the State of Iowa, by the Act Of Con-
gress, entitled IAN Act donating public lands to
the several States and Territories which may pro
vide Colleges for the benefit Of Agriculture and
Mechanic Arts" approved July I'd, 1882, which
grant was accepted by the General Assembly Of
the State Of lows. September 1lth, 1862, upon
the following conditions, regulations and rcstric-
tons, to-wit: None Of said lands shall be sold
for less sum than 50 per cent above the price
that each piece Of said lands respectively was ap
praised ut, by the Trustees of the Agricultural
College and Farm, in the year 1855, bat may be
sold by the purchaser paying one-fourth II the
time Of sale, and the balance At any time within
ten years from the day Of sale, the purchaser to
pay eight per cent interest per annam, annually
in advance, ON the deferred payment. And
failure to pay the interest the principal within
sixty days after II becomes due, the purchaser
shall forfeit al claim to said land we'll q that
portion Of principal and interest he had paid to
the Agricultural College.
SEC. 2. That any Of said lands may be leased
in amounts not to exceed leo acres, to any one
man, for any term not exceeding ten years, the
lessee to pay eight per cent per annum in advance
upon the price Of said land, which is hereby de-
clared to be Fifty per cent additional to the price
at which each piece of said lands respectively
were appraised by the Trustees Of the Iowa State
Agricultural College and Farm, in the year 1865
and the said lessee shall have the privilege of pur
chasing said land 1t or before the expiration Of
the lease, st the shove described advanced price
IA laaax [>er - Ia
within sixty days from the time tho same be-
comes due, shall forfeit his lease, together with
the amount Of the interest he has paid, and the
improvements thereon.
SEC. g. The money arising from the sale Of said
lands shall be paid into the State Treasury, which
shall be invested by the State Treasurer in bonds
OF the State Of Iowa, or United States Registered
bonds, as directed BY the Act Of Cosgrsss, grant
ing said lands. All the moneys arising FROM Tie
interest the leases of said lands, shall be paid
over to the Trustees Of the lows State Aericult.-
rsl College and Farm, TO Be loaned by said Beard
Of Trustees, good and Sufficient security, until
needed to defray the expenses Of the College.
SEC. 4. The Trustees Of the Iowa State Asri-
cultural College and Farm, are hereby endowed
with al necessary authority to appoint axeuts or
do any other Acts to carry ont the provisisas u
this Act ~ we'll ~ the provisions Of Chapter one
hundred and seventeen, Of the laws Of the Tenth
General Assembly; and AL parts or provisions Of
Chapter one hundred and ssvsntsen, Of the Acts
Of the Tenth General Asssnbly, conflicting with
this Act, are hereby repealed.
SEC. 5. This Act bsing dssusd By ths Gsasr,l
Asssnbly, Of Immediate inpoFtasss, II ehall
b in fsrss from asd aftsf it, Publication
q the loss State Reeisser, publisked q De,
Meiaea, lows, md in the loss korsA Ws.s. pub-
nshed q Fort Dodgs, Iowa.
Appsovsa NassA 3etA, 1853.
As.ssy ssstiSy tha4 IL forseoiae At ~ p.h-
iishsd = H. less Sssss Rs0isasr Avn II IN.
cd In IL les MsvsA Wsss Apei IA. Io1o.
JAIL N1t0Hx, esus4oy d.