Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1885-10-09

given by tho United States, for
schools in the state, all such pc
be granted by the United States
public lands, the proceeds of ID
shall fall to the state by esciaeat,
all gifts Or donations to the
schoola or not otherwise aDprJ
terms Of the gift, and ali proper
quired for public schools shall
perpetual fund for the MANNED
schools in the state. 1t shall be
fund held by the state. The pr
ever remain inviolate, and mi
but shall nevar be diminished, aI
make good III losses thereof VII
manner occur.
SEC. s. Tho interest and incon
together with the net proceeds
violation Of state laws, and all 4
may be added thereto by law, 81
used ind applied each year for 4
public schools of the state, and
purpose apportioned among an
several public school corporate
in proportion to the numDer of
OF school age, as may be tixed
part of the fund, either primo
shall be diverted, even temper
purpose, or used for any other
than tho maintenance of public
sQusl benefit of all the people oi
SEG. 4. After one year from I'll
The first Legislature, tho land
state by the United States for I
schools, may be sold upon the
tions, and no other. NUt more
all suoh lands shall he sold wi
years. and no more than two-t
first tftaen years after the title
in the state, and the legislature
the provisions of this article, Or
of the same.
The commissioner of school a
the state auditor and the county
of schools of the counties
constitute boards of appraiI
appraise all school lands
counties which they ma
to time select and designate I'd
actual value under the terms of
shall take care to first select az
sale the most valuable lands; ant
certain all suchlands as may be
peculiar value other than agricu
the proper subdivision Of the
that the largest price may be OBJ
Sec. 8. No lands shall be sold
appraised value and in no case 1
dollars an acre, unless after tho
two consecutive legislatures G
otherwise directing. The pure
one fourth of the price in cash
ing tliree-fou1tl,s as folloJ
in five years, one-fourth in ten
fourth in fifteen years, with in
the rate of not less than six pei
mum, payable annually in adval
subdivided lands may be sold I'd
that upon payment of the interd
year in advance, the balance
price may be paid at any time.
at public auction to tho highes
sixty days advertisement of the
paper of general circulation id
the lands to be sold, and cne at
eminent. Such lands as shnl1
specially eubhvided shall be off
not moro than eighty acres and
yided IN tho smallest subdivisI
designated for sale not sold i
after appraisal, shall be reapprai]
Of appraisal, as hereiAbefore
they aresold.
SEC. 8. Ali sales shall be con
the ofhoe Of the commissioner of
lie lands as may bs prescribed
turns Of al appraisals and sales 4
said Office. No sale shall operate
right or title to any lands for six
date thereof, nor until the same
approval of the governor in such
provided by law. No grant or
such lands ehall issue until fl
made.
SIS. Z. All lands, money or 9th
mated, granted or received frt
States or my other source for a
cultural college, normal school
tional or charitable institution
the proceeds of all such lands an
so received from any source. sllal
perpetual funds, the interest
which, together with the rents of
may remain unsold shall be inyi(
ated and applied to the specific
oriRinal grants or gifts. The pr
such fund may be increased, hut
diminished. and the intercet an
shall be used. Every such fund
q trust fund held by the state, AMI
make good all losses therefrom
manner occur.
SEC. 8. All lands mentioned il
section shall be appraised and SO
manner and by the same officers
der the Same limitations, and 81
conditions as to prices, sale an
vided above for the appraisal an
for the benefit of public schools.
and separate account shall be ke
officers of each of SAID funds.
Sec. @. No lands mentioned
shall be leased except for pasturj
purposes. and a public auction
hereinbefore provided in case d
he offered in tracts not greater
tion. All rents shall be payable
vance, and no term of lctse 81
years, nor shall any lease be va
oeives the approval of the COVER
SEC. 10. No claim to any publ
trespasser thereon by reason of
ivation or improvement there
recognized, nor shall compen
made on account of any improy
such trespassers.
SEQ. IL. The moneys of the pd
and other educational funds 81
only in first mortgages upon GOO
lands within the state as hefeina
in bonds of school corporations
or in bonds of the United State
of Dakota. The legislature shal
the method of determining the
funds which shall be invested
in such classes of securities res
care to secure continuous inve
possible.
All moneys of said funds WHO
to time be designated for inv
mortgages and in the bonds Q
tons, shall for such purpose b
the organized counties Of the ST
to population as nearly as pro
secure continuous investments
The several counties shall hd
the same as trust funds. and the
main responsible and accountah
pal and interest Of all euch m
them from the date Of receipt
cause not loaned, and In cas-
money SO appoltioned to any co
shall make the Same good out Of
enua. Counties shall invest
bonds of school corporations
Cages upon coed unpreved faj
their limits respectively but nc
exceed five hundred dolhaas to
nor shall it exceed ene-haE the
land as assessed for taxation; a
terest shallnot BIO Less than six
annum and shall be such other
as tho legislature may provide
able semi-annually on the tins
and July; Provided: That wi
moneys Of said fund in any cou
one thousand dollars that cam
cording to the provisions of thI
law pursuant thereto, the seid
turned to tho state treasurer t
some other county OF counties
vested under the provisions of
Each county shall eemi-annu
days of January and July rcndi
the condition of the funds ent1
auditor of state, and the same
count to the state treasurer for
on all funds entrusted to it..
The legislature may provide
that counties may retain from
in excess of six per centum pei
funds intrusted to them not tt
centum per annum. But no cl
empted from tho obligation to
payments to the state treasure
rate provided by law for said
said one per csntum; and in NJ
terest 80 to be paid be less tina
per annum.
The legislature shall provid}
safe investment of the perm
other educational funds, and
lection Of interest and incon{
oaryr out the object and prCviI
ton.
SEC. IL. The governor may d
lease OF Investment other than
trusted to tbs counties.
SEC. Is. ALI Losses to the pc
other Aduoational funds Of this
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