Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1889-03-15

| may be increased but shall nevar Ioiate
ished and the state shall make good o .,, I'D
thereof which may in any manner SOL al le
SEC, 3. The interest and income Of u VI.
violation of state laws, ana ali on ~, hes
which may be added thereto by ,,o o".sf
| faithfully used and applied ench rs shall
benefit of the public schools of the "a, s.aI o'
shall be forth is purpose apporeioned o,'e,
between all the several public schno,a 'ioas
tions of the state, in proportion to + ba co1
children i'll each of school age as ma,i i,lnt
by Law ; ma no part of the fund. eitLss pe
pal or interest. shall be diverted, eyan pa
rarily, from this purpose. or used for ar, ,ta
| purpose whatever than the rlainto "Ay q
| public schools for the equal beneft W ia ie
| people of the stste. VI all
| SEC. 4. After one year from the assor,,,.
the first legislature, the lands grant ~
state by the United States for the u use ~ 70
| schools may be sold upon the fojInw;tsol pal
tions and no other: Not more tham ~ cta
! of all such lands shall be sold within VIZ
| five wears, and no more than two-tbirdie
the first fifteen years after the title ths VIZ
vested in the state, and the Legislature
| snbject to the provisions of this art;o,.
| vide for the sale of the same.
| The commissioner of school and pub,;o,.
the state auditor and the county sunnr;ls
ent of schools of the counties severau,N
| constitute boards of appraisal and shan
| praise all school lands in the sewers, 1I asl
| designate for sale at their actual VAIN
the terms of the sale. They shall taxi ~! ~
first select and designate for sale the ,no Wv
liable lands md they shall ascertain MI
lands MS may be of special and peculiar a
| other than agricultural, and cause the \,
subdivision OF the same in order that thu
| est price may be obtained therefor.
| SEC. 5. No lands shall be sold for less th,,
appraised value, and in no case for less.
ten dollars an acre. unless after the yea,
$yx-1 1or IL $,,~o
law otherwise directing. The purchase
pay one-fourth OF the price in cash. and 4,
manning three-fourths rs follows: One
in five years, one-fourth in ten years. and
fourth in fifteen years, with interest tbere,
the rate OF not les s than six per centum ,s
mum, payable annually in advance but all
subdivded lands may be sold for cash
vided that upon payment of the interest r
full year in advance, the balance of tbs
chase price may be paid at any time. a
after sixty days advertisement of the sam
IL newspaper Of general circulation in
vicinity of the lands to be sold, and one ..
seat of government Such lands as shall
have been specially subdivided shall be off
in tracts of not more than eighty acres
those SC subdivided in the smallest subj
ions. All lands designated for sale not
within four years after appraisal, shall liz
appraised by the board of appraisal as ben
before provided, before they are sold.
VI All SltlcS Sllhll D6 ed thin
the office of the commissioner of school
| public lands as may be prescribed by law
| returns of all appraisals and sales shall
made to said office. No sale shall operat
convey any right or title to any lands for
days after tho date thereof. nor until the
| shall have the approval of the governor in
| form as may be provided by law. No granI
| patent for any such 1unds shall issue until
payment be made.
SEC. z. All lands, money or other propertT
| $,1 ,A,7,
States or any other source for uniyer
agricultural college, normal school or d
| educational or charitable institution or
pose, and the proceeds of all such lands
| other property SO received from any sol
| shall be and remain perpetual funds, the ii
| OF all such land as may remain unsold shsl
| inviolably appropriated and applied 10
specific objects of the original grants or
The principal OF every such fund may be
!! creased, but shall never be diminished, and
! interest and income only shall be used II
| such fund shall be deemed q trust fund he
the state and the state shall make good
| losses therefrom that shall in any ma
| occur.
SEC. s. All lands mentioned in the prece
section shall be appraised and sold in the !
manner and by the same officers and b.
under the same limitations, and subject
the conditions as to prices, sale and appr
provided above for the appraisal and sol
AuiAo 40A JIG pSAGllO VI uuDllCZ SCuOOlS,
| distinct and separate account shall be keI
| the proper officers of each of said funds.
| SEC. 9. No lands mentioned in this a.
| shall be leased except for pastumge
meadow purposes, and public auction
| notice MS hereinbefore provided in case Of
and shall be offered in tracts not greater
one section. All rents shall be payable q
ally in advance, and no term of lease
exceed five years. nor shall any lease be
until it receives the approval of the govern
liz In, IL l-
trespnsser thereon by reason of occupancy
tlvation or improvement thereof, shall eva
recognized, nor shall compensation eve
made on account OF any improvements mad
such trespnssers.
SEC. II. The moneys of the permanent SC
and other educational funds shall be inye
only in first mortgages upon good impr
farm lands within the state as hereinafter
vlded, or in bonds of school corporations viii
the state, or in bonds of the United States,
the state of Dakota The legislature shall
vide by law the method OF determining
amounts of said funds which shall be inyt
from time to time in such classes of secur
respectively, taking care to secure conn
investments as fur as possible
All moneys of said funds which NAV
time to time be designated for investmeI
farm mortgages and in the bonds of school
porations, shall for such purpose be div
among the organized coun. les of the state
proportion to population as nearly as PROV:
Dy law TO secure continuous investments
permit.
The several counties shall hold and ma.
the same as trust funds. and they shall be
remain responsible and accountable for
principal and interest of all such moneys
cured by them from the date of receipt
returned because not loaned, and i'll case d
TO any money so appOrtioned to any cor
such county shall make the same good q
its common revenue. Counties shall n
said moneys in bonds of school corporate.
IN FIRST mOrtpOppS ir,rrovpI
lands within their limits respectively;
no farm loan shall exceed five hundred id
TO any one person, nor shall it exceed
nan neaasso me .s valuation Of the land nd.
shall not be less than six per- centum
annum and shall be such other and higher
us the legislature may provide and sha
payable stmi-unnually on the first days Of
uary and July; Provided: That whenever;
are moneys of said fund in any county ans
ing to one thousand dollars that canna
loaned according to the provisions of thl;
tlon ana any law pursuant thereto, the
sum may be returned to the state treasrI
be entrusted to som other county or couL
this section.
Each county shall semi-annually on the
says OF January and July render an accoa
the condition Of the funds entrusted to
me auditor OF state, and the same time
to or account to the state treasurer for 10
terest due on all funds entrusted to it.
The legislature may provide by seners
That counties may retain from interest co.
ed IN excess OF SIX per centum per annuii
all funds entrusted to them not to eSese
per centum per annum. But no count!
be exempted from the obligation to max.
annual payments to the state treasurer oih
est ut the rate provided by law for slil,
except only said one per centu,n; ara
case shall the interest SO to be paid be less
BIN per centum per annum. p,
The legislature shall provide by lave
SAFE Investment of the permanent sclos
other educational funds. and for the pr
collection of interest and income Thereof.
10 carry Out the object and provisions U
section.