The Dickinson press., 1889-08-24

section. No more than one-half of the
remainder within ten wears after the same
become saleable us aforesaid. The residue
ma be- sold at any time after the eXpira-
ton If said ten years. The Legislative
Assembly shall provide for the sale of
all school lands subject to the provisions
of this Article. The Goa lands OF the state
shall never be sold. but the Legislative
Assembly may by general law provide
tor leasing tie same: the words coal
lands shalt include lands bearing Ignite
coal.
+ LOT. The Superintendent "f Public
Instruction, Governor. Att"rney-titncral.
constitute Il board of c ,mmissionerS which
shall he denonIlnated the Board of Uni
versity and School Lands" and subject To
the provisions of this article and any law
that may be passed by the Legislative
Assembly; said board shall have con
troll of the appraiscment, sale, rental and
disposal ana sIa, Of al scho1 Ma and university lands,
funds arising therefrom in the hands of
the State Treasurer, under the limitations
OF section 100 of this article.
SEC. l57. The county superintendent of
common schools. the chairman of the
county board, and the county auditor shall
constitute boards OF appraisal and under
tne authority of the state board of univer-
sity and school lands shall appraise all
school lands within their respective coun-
ties which may from time to time rec
mmen Tor sale at their actual value
unde the prescribed terms and shall first
select and designate for sale the most val
uaDle lands.
SEC. 15S. No land shall be- sold for less
than the appraised value and in no case
for less than ten dollars per acre. The
purchaser shall pay one-tifth of the price
IN cash amt the remaining four-titthS as
follows: Onr-tiftl in five years, oMe.titth
in ten years. one-tifth in fifteen years and
one-flftl i'll twenty years, with interest at
the rate of not less than six per centum
payable annually in advance. All sales
shall be held at the county seat of the
county in which the liant to be sold is situ-
ate, and Shall be at public auction and to
the highest bidder, after sixty days advtr-
1isement of the same in Il newspaper of
general circulation in the vicinity of the
lands to be sold, and II at the seat of
government. Such lands as shall
shall be offered in tracts of
~one-4uarter section. and those so subdi-
vided in the smallest subdivisions. All
lands designated for sale and not sold
within two years after appraisal shall he
reappraised before they are sold. No grant
or patent for amy such lands shall issue
until payment is made for the same pro-
s.ss St'sS SiS sitN W W w
sold by the state, Shall be subject to taxa
tion from the date of such contract. In
case the taxes assessed against an, of said
lands for any year remain unpaid until the
first Monday in October of the following
year, then and thereupon the contract of
sale for such lands Shall become null ant
void.
SEC. 159. All land, Money or other prop.
erty donated, granted or received from the
United States OF any other source for ii
University, School of Mines, Reform
School, Agricultural College. Deaf and
Dumb Asylum, Normal School or other
educationa! or charitable institution or
lands and other property so received from
any source, shall be II remain perpetual
funds, the interest and income of which
together with the rents of all such lands as
may remain unsold shall be- invi0lably ap-
propriated and applied to the speciti. Oh
JectS OF the original grants or gifts. The
principal of every such fund NAV be in.
creased but shall never be diminished, ami
the interest and income only Shall be
used. Every fund Shall be deemed a
trust fund held by the state, and the state
shall make good all losses thereof.
SEC. 100. All land mentioned in the
preceding section shall be appraised and
sold in the same name and under the same
limitations and subject to all the conditions
as to price and sale as provided above for
the appraisal and sale of lands for the
benefit of common schools: but Il distinct
and separate account shall be kept bv Tie
proper officers of each of said funds. mo-
vided, that the limitations as to the time i'm
which school land may be sold Shall apply
only to lands granted for the support OF
common schools.
SEC. 16l. The Legislative Assembly
shall have authority to provide by Law for
the leasing of lands granted to tile state
for educational and charitable purposes:
but no such law shall authorize the leas
ing of said lands for Il longer period than
tlve years. Said land shall only be leased
for pasturage and meadow purposes and
at apublic auction after notice as heretofore
provided in case of sale; provided, that all
of said school lands now under cultivation
may be leased at the discretion and under
the control of the board of university Nd
school lands, for other than pasturaye
and meadow purposes until sold. All rents
shall be paid in advance.
SEC. 1872. The moneys of the permanent
school fund and other educational funds
Shall be invested onlyin bonds of school cor
porations within the state, bonds of the
United States, bonds OF the Stale of
North Dakota or II first mortgages on farm
lands in the state, not exceeding i'm amOunt
une-third of the actual value of any subdi-
vision on which the same may be loaned,
such value to be determined by the board
of appraisers of school lands.
SEC. 1853. No law shall ever be passed by
the Legislative Assembly granting to any
person, corporation or association any
OrivilpppS IN reason of tho npcunation n,,1-