Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1883-01-17

der, payable in installments of o.e-
fourth each year with per cero. in
terest, the purchaser being allowed TO
defer the payment for one or more
years, but always required to pay up
the interest on the first day of March
annually. Any failure TO make pay
ment of the interest due by the first
day of March of each year. shall
operate as an absolute forfeiture, and
the land is again subject TO sale: pro.
vided, however, that when lands are
sold as timbered lands, the whole
amount of the purchase money must
be paid in cash, and the surveyor, i'm
mediately upon receipt of the money.
must transmit 1T, together with the OBJ
legation executed by the purchaser.
to the state treasurer and receive as
compensation for his services, expenses
in making sales, etc., one-half of one
per cent on the amount realized on the
sales.
Sec. s. Provides that the ownership
of all minerals shall be reserved to the
common school fund; provided, that
the discoverer of any mineral on sec
ton, except salt springs and lakes,
shall have the right to acquire twenty
acres as premium, and the remainder
of the section shall be disposed of as
provided by the state board of directors.
Secs. 10 and ii relate to the manner
of surveys, and the manner of paying
money into the land Office and receipt
ing for same by the treasurer.
Sec. IL. Relates To the manner of
forfeiture. BY its terms, upon failure
of this purchaser to pay interest at the
time specified by the act he shall be
nntitnI hy tha np,;ocinnar IF fho
land office that unless said interest is
paid within ninety days, the failure to
do so shall operate as an absolute for
fixture of his title, and upon such fail
ure of the purchaser. after notice il is
declared to be a forfeiture.
Sec. 10. Provides that the sale of
forfeited lands shall be made in the
same way as provided for original sales.
but provides that any improvements
shall be paid for by the purchaser the
value of the same to be assessed under
oath by the surveyor.
Sec. II. Provides that purchasers of
school lands under previous acts may
avail themselves of the privileges un-
der this act upon paying up all arrears
of interest to the date of taking effect
of the act, after which they shall pay
interest on the original obligation at
the rate of four per cent. per annum.
Sec. Is. Provides that in case of the
| death of n purchaser before the date of
payment of installment and interest
fall due, the extension of twelve
months will be allowed his admins
| traitor or executor.
! Sec. 10. Provides that in case any
one desires to sell lands they have
purchased, they may do so after max
| ing the first payment; provided the
purchaser, or vendor of the purchaser,
shall file in the general land Office an
1 authenticated transfer from the pur-
chaser of the lands, and the vendor
shall then become liable the same as
the original purchaser for the pay
ment of the obligation made by the
original purchaser. 1t further provides
| for the issuance of patents, but that no
two tracts shall be patented in any one
patent, but separate patents shall be
| issued for each tract.
Sec. II. Provides that the land shall
become subject to taxation from the date
of the first payment into the treasury.
! Sec. Is. Provides that the net pro-
ceeds arising from the sales of lands
shall be paid into the common school
| fund, the principal to be invested in
| Sbate anu Oulteu 'SlaleS DOuus, anu lIle
interest arising thereirom shall be APP
| piled to the use of the common schools,
as part of the available fund.
See 20. Provides for the purpose of
carrying out the provisions of the act,
the appropriation of $500 as follows :
For salary ofchief clerk, $4,000; drafts
man, $1,000; four assistant clerks, $4,-
800.
See 81. Provides that before any
surveyor shall be authorized to sell
any of the lands he shall execute n
bond of $4,000, to turn over to the
state all moneys received by him for
] such lands.