Bismarck weekly tribune. [volume] (Bismarck, Dakota [N.D.]) 1884-1943, 1890-04-18
DUTIES OF BOARD OF UNIVERSITY
AND SCHOOL LANDS.

DUTIES OF BOARD OF UNIVERSITY
AND SCHOOL LANDS.
An Act Providing for the Organization, and Fix
ing and Defining the Powers and Duties of the
Board of University and School Lands, and
Making an Appropriation Therefor.
Be 1t Enacted by the Legislative Assembly of the
State Of North Dakota:
SECTION /. The superintendent of pub
lie instruction, governor, attorney gener-
al, secretary of state and state auditor shall
constitute the board of university and
school lands. Such board shall be organ
lied as follows: The governor shall be ex-
officio president of such board, the super
intendent of public instruction shall be OK
officiO secretary thereof, n the state au-
ditOr shall be eX-Oficio recorder thereof. In
the absence of the president or secretary
the attorney general shall act as president
or secretary as the case may require. Such
board when acting as such must act per-
sonally. No member thereof can be repre-
scented in such board by any assistant or
clerk in the Office of which such member is
the chief officer.
SEC. 2. Subject to the provisions of this
act such board shall have full control of
the selecting, leasing and sale of all the
public lands of the state, and the invest
ment of the permanent funds derived from
the sale thereof, or from any other source;
provided, that all such lands granted to the
State BY congress. shall be selected by the
governor, or his duly authorized agent, SUBJ
ject to such rules and regulations as may
be prescribed by the secretary of the in
terror.
SEC. 8. The secretary of said board shall
keep, in a suitable book, a full and correct
record of all their proceedings at every
session of the board, which record when
approved shall be signed by the president
and secretary.
school lands shall meet regularly in the Of
ton on the last Saturday of each month, at
10 o'clock a. M. Special meetings of the
board may be held at any time at the writ
ten call of the president or any TWO mem
bers.
SEC. S. Any three members Of said
board shall constitute a quorum. But said
board shall not purchase any bond or bonds
or mortgages except at a legal session
thereof, nor unless every member of the
board is notified in time to be present at
such meeting, and notified also that the
question of purchasing said bonds or
mortgages is to be considered thereat,
designating the bonds and mortgages; nor
unless a majority of all the members of
said board vote in favor of the purchase
thereof.
SEc.6. 1t shall be the duty of the state
auditor as ex OfficiO recorder Of said board
to keep in a suitable. DOCK or DOCKS a full
and complete record of the selection, leas-
ing, sale and issuing of patents of all lands
belonging to the state or in which the state
has an interest, or which are held in trust by
the state. He shall also keep in suitable
books a record showing a detailed state
ment of the condition of all the permanent
funds under the control of said board, the
amount OF each fund, how invested, when
due, interest paid, and every other act in
any manner connected with the manage
meAt of said funds, and shall biennally
report all such investments to the governor
to be laid before the legislative assembly.
= SEC. . Said board of university and
school lands shall haYe the power, and it
is hereby made, their duty, from time to
time, to invest any moneys belonging to
any Of the permanent funds of the COM
| mon school, university, school of mines,
reform school, agricultural college, deaf
and dumb asylum, normal school, and all
other permanent funds derived from the
| sale OF the public lands or from any other
| source, IN bonds of school corporations
within the state, bonds of the United States,
bonds of the state Of North Dakota, or in
first mortgages on farm lands in the state,
nOtsexceeding in amount one-third of the
actual value5 of any subdivision on which
the same may be loaned, such value to be
determined by the board Of appraisers Of
school lands.
SEc.8 {. Said board shall also keep such
other books as may be necessary to