Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-02-26
The Bit.

An act to dispose of the 500, 900 acres of in
ternal Improvement lands and to encourage
the settlement of the same.
Be 1t enacted By the legislature of the State of
Minnesota.
Section 1. The 100000 acres of land which
this State has received, or which it shall re-
ceive hereafter, under the sixth section of the
act of Congress, approved Sept. 4, 1841, and
the proceeds thereof, are hereby set apart as a
separate fund to be denominated the State in
ternal improvement fund, and said lands and
proceeds shall be disposed of only in the man
ner following:
Sec. 2. The said lands yet unsold shall be
appraised with the least practicable delay by
the State land commissioner at their relative
value at such prices as together with the pro-
ceeds OF said lands already sold shall equal the
aggregate of the State railroad bonds and the
Judgments and claims referred to in the act Of
the Legislature. approved March 4, 1870 with
the unpaid interest thereon, said appraisal to
be approved by the Governor.
Sec. 3. Any holder Aof said bonds, iudg-
ments, or claims is hereby authorized to de-
! post with the said land commissioner said
bonds, Judgments, or claims or any part there
OF, and receive in return land warrants signed
by said land commissioner and attested by the
secretary of state in such legal subdivisions as
the said holder may elect, which shall entitle
MN nun to portion of said lands by legal sub
division remaining unsold equal at the an
praised value to the amount of the bonds. iudp-
ment or claims deposited, with accrued and
unpaid interest, said land warrants shall bear
no interest and shall be made transferable and
may be located upon any of the said lands I'M
disposed of at its appraised value.
Sec. 4. When and after all of the SAN lands
shall have been disposed of in accordance with
| the provisions of this act, the proceeds of such
| OF the said lands shall have been sold for
cash or It's equivalent, shall be devoted by the
State land commissioner to the purchase Of the
War ofo ffoor ke%o
as may be prescribed by him with the approval
OF the Governor. P1ovide1, That in no
case shall greater price be paid
for the said land warrant per acre than the ay
erage OF the appraisal of the said lands required
by section two of this act.
Sec. 5. Said lands, when sold or disposed of
IN accordance with the terms Of this act, shall
De subject to taxation the same with other
lands owned by private individuals
Sec. b. Ihe deposit of said bonds, judgments
and claims contemplated by this act is intend
ed to embrace all unpaid coupons or other items
OF lnterest thereto attached or in any wise per-
tanning.
Sec. z. All Minnesota State railroad bonds
SO deposited as aforesaid, or received in ex-
change for land warrants as hereinbefore nro-
vlded, shall be cancelled by the land commits
sloner and state treasurer in presence of the
Governor, and never be reissued.
Sec. s. This act shall be submitted to the
electors of this State for their approval or re-
lection, at a special election to be held
| on the '- --- , 1879; the ballots at
such election upon the question
| submitted shall have written or printed thereon
| as follows: Those in favor of the act Payment
of bonds with lands-Yes." Those against the
act, Payment of bonds with lands-No." The
polls at said election shall be opened during
| the time, and said election conducted and the
| returns thereof made and certified in the man
| ner now provided by law for casting, canvass
| ing and returning votes for State officers. ex-
cept that said returns shall be made to the sec
| rotary of state within thirty days after said
! election, and within ten days thereafter the
secretary OF state, in connection with the Gov
| ernor and State auditor, shall canvass the re-
| turns made, and if it shall be found that
majority of those voting at said election have
| approved of this act, then the Governor shall
| issue his proclamation declaring said result.
| and thereupon the act shall take effect and be
in force.
Sec. 9. Nothing contained in this act shall
be SO construed as to have the effect of an ac
acknowledgement on the part of the
State of any or greater obligation of any kind
that did not exist prior to it's passage.
Sec. 10. 1t is the true intent and meaning
of this act that interest upon all of the said
railroad bonds, judgments and claims referred
to heretofore in this act shall cease, and deter
mine from and after the date of the proclama
ton of the Governor hereinbefore provided for
in section 8 of this act
Sec. IL. This act shall take effect and be in
force from and after it's passage