The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1866-07-05
CHAPTER II.

Relating to sale and lease of lands be-
longing to State Agricultural College.
AN ACT authorizing and regulating the
sale and lease of lands belonging to
the Iowa State Agricultural College.
SECTION l. BE it enacted by the Cen
eral Assembly of the State of Iowa, That
the Trustees of the Iowa State Agricul-
tural College aud Farm, are hereby au-
thorized to sell or lease all of the lands
granted to the State of Iowa, by an act
of Congress entitled, IAN Act donating
public lands to the several States and
Territories which may provide Colleges
for the benefit of Agriculture and Me-
chanic Arts" approved July I'd, 1862,
which grant was accepted by the Gener-
al Assembly of the State of Iowa, Sep
TENDER 18th, 1862, upon the following
conditions, regulations, and restrictions,
to-wit: None of said lands shall be sold
for y less sum than fifty per cent above
the price that each piece of said lands
respectively was appraised at, by the
Trustees of the Agricultural College and
Farm, in the year 1865, but may be sold
by the purchaser paying One-fOurth at
the time of sale, and the balance at any
UII1C WlSAlu VCH y CllS lIoII VIC way VI
sale, the purchaser to pay eight per cent.
interest per annum, annually in advance
on the deferred payments. And fail
ure to pay the interest or the principal
within sixty days after it becomes due,
the purchaser shall forfeit all claim to
said land, as well rs that portion of
principal and interest he had paid to
the Agricultural College.
az That any of said lands may be
leased in amounts not to exceed 100
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 declared 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 % purchasing said
land at or before the expiration of the
lease, at the above described advance
price. The lessee failing to pay the in
terest ON said lease within sixty days
from the time the same becomes due,
shall forfeit his lease, together with the
amount of the interest he has paid, and
the improvements thereon.
IS. 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 Regis.
tered bonds, as directed by the act o.
Congress, granting said lands. And the
moneys arising from the interest on the
leases Of said lands, shall be paid over tc
the Trustees of the Iowa State Agricul-
tural College and Farm, to be loaned by
said Board OF Trustees, on good and suf-
ficient security, until needed to defray
the expenses of the college.
"a. The Trustees of the Iowa State
Agricultural College and Farm, are here.
by endowed with all necessary authOri-
ty to appoint agents, or do any other act
to carry out the provisions of this act as
well as the provisions of Chapter
III, ofthe laws of the Tenth General AS
sembly; and all parts or provisions ol
Chapter III, of the Acts of the Tenth
General Assembly, conflicting with this
act are hereby repealed.
IS. This act being deemed by the
General Assembly of immediate i'm
pOrtance, it shall take effect and be il
force from and after its publication il
the Iowa State Register and Iowa NORTH
West published at Fort Dodge, Iowa.
Approved March 18th, 1886.
Thereby certify that the foregoing &C
Wos pnblished in the Iowa State Regis
ter April LIST, 1888, and in the Iows
NptthWest April -th, 1865.
JAMES WEIGHT.
secretary Of Stare