Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1892-04-22

OF said land shall lie paid 10 the secre.
tnry II the board ol regents, whose duty
" shall he 10 attend ut said talDs. Ne
shall give his receipt therefor, aud
uron iull payment ~ tho purchase
price, or purchase price aud interest,
us thu Cate msy be, he shall issue 90 tao
purchaser a certificate signed by the
chancellor and sccrstnty. which shall
state the name Hud residence " said
purchaser, the description ~ the laud
pufchnsed, the date when purchased
and the date whcu lull pay mcnt was
made, and that said purchaser b. en-
Titled 10 "a conveyance ~ said land o.
him Ia fee, aud said purchaser upon
presentation Of said certificate ~ the
Secretary Of the Territory shall re-.
coivo a deed iu the name Of the Ter.
rt0ry Of Utah, signed by the Governor
and Secretary Of the Territory, uluef
the seal Of the Territory 81 Utah, con.
veying 10 him In fee the land a. pur.
chased.
SEC. 10. All ofsaid lands not sold as
hcreinheiOro provided may, after they
have been 20 offered for public sale, be
sold Mt private sale by the BOani lf
Regents, at "a sum not lrs- than their
appraised vslue, upon the terms pre-.
cribcd ~ said board, or they may hc
sold NJ public sale upou notice given
by said board for the time and
Ia the manner herein provided, but
In no case shall they h. sold Tor les
than the appraised value, and said
board may from time 10 time offer tsld
lands for sails as Aforesaid whenever
they deem proper, aud may from time
70 time require said board VI appraisers
30 make new appfaisem.nt Of said
uusold lands; Provided, That lands 81
again appraised shall not DO sold nj
private sale until they have been
offered at public sale IA hereinbefore
provided.
See. ~. The governor and secfe.
tafy Of thn Territory OF Utah aro hereby
authorized and directed to make and de
liver to the purchaser OF the said iauds
the deed heTelnbcforc provided for
upon the PRESERVATION Of the certificate.
Sec. u. The proeeedsO OF all sales A.
aforot1id ahsll h- deposited with the
treasurer Of the UnlveTsity Of Utah,
who shall keep n separate account "
the same.
Sec. Is. The Board Of Regents are
empowered To invest the proceeds Of
said sales In bonds Issued by the
Territory Of Utah or bonds Issued 10y
counties, cities aud school districts In
said Territory" All securities acquired
with said fund shall be taken anu held
In the name Of the University OF Utah,
and collected, discharged anu released
In that name.
Sec. 10. Al proceeds Of sales Of
lands aforesaid shall, without dimiuu.
ton, remain anu constitute "a fund for
the benefit Of the University of Utah,
aud no part Of said fund shall be vx.
pended for any purpose whatever, but
shall be held Tor investment and REIN
vestment perpciually 81 separate
fund, but all Interests accruing from
said Investment OF said fund may be
used loF the general maintenance OF
said University.
Sec. II. II shall be the duty Of the
board OF regents Uu the first Monday
In January In each year to report all
sales In duplicate, showing the lands
sold, for what price sold, what pay
ments have been made, what credits
given the investments made, aud tho
amount ot cash belonging TO said fund
on hand. They shall file one duplicate
In the office Of the Secretary Of the
Territory and one In the office OF the
Territorial auditor OF public accounts.
See. Is. At The beginning Of each
regular session Of the Legislature the
board Of regents shall make the gov
etnOr and Legislative Assembly OF the
Territory Of Utah full report, show.
ing the lands sold, TO whom, the price
paid, the amount paid and unpaid, the
amount aud description Of the lands
unsold, the disposition ami investment
& "a 81.
said land, the amount Of interest 70.
ceived aud the general conditions Of
the lands aui fund; and they shall also
make to the governor anu Legislative
Assembly such further amended and
supplemental reports "a said Legis.
laiufe or any committee appointed by
said Legislature TO examine the trans.
actions Of the board OF rcgCnta may re-.
quiTe.
See. TO- The members Of the board
VI appraiser, Tor their services as such
appraisers, shall receive compensation
al the rate of five dollsp per day for
each day actually given 10 appraisal or
other necessary service rendered 10 the
performance Ui their duties under this
net. They shall also be- allowed all
other pxpensos actually aud necessarily
lIlulAfh Va Ail' ltAlNA hAhh'f w
their duties herein imposed upon
them. They shall file IN the
office Of the Territorial auditor an
itemiged account of such services and
expenditure verified by their oath,
Upon the hllng Of said account said
auditor shall issue warrant upon the
Territorial treasurer therefor.
Sec. -. The surveyors herein pro-
viIed for shall file an itemiled account
approved and allowed by the commits
sionurB 10 locate University lands,
with the Territorial auditor who shall
thereupOn is1ue a warrant upon the
Territorial treasurer therefor.
See. 81. The chancellor and board
Of regents are hereby given full power
and authority 20 make all needtul rules
and regulations not conflicting here
with to carry out tho purposes OF this
act,
SEQ. %. The board OF regents shall
not receive any compensAtiOn for per
sOnal services, but they may be paid
actual expenses Incurred Ia transact.
ing the business.
Sec. %. There Is hereby appropriat.
ed from the Territorial treasury the
sum OF Ave thousand dollars Tor the
| purpose Of defraying the expenses 10
he Incurred IN carrying iutO effect the
provisions OF this act, to be drawn ~
herein provided, and only 10 much
! thereof as may be necessary shall be
expended,
Sec. "a. This act shall be In effect
| from aud after its approval.