The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1892-07-30
OFFICIAL PAPER OF MCLEAN co.
Our Public school Fund.

Our Public School Fund.
To the Editor: Funds for the support
of common schools in North Dakota are
derived from W. principal sources: The
state tuition fund and school district taxa
tiOn. The state tuition fund consists of
the interest and income fund, all general
school taxes, and the net proceeds of all
fines, penalties and forfeitures. The in
tcrest and income fund is composed of the
interest arising from investments of the
permanent school fund of the state, the
interest arising from deferred partial pay
lnents Of the purchase price of school
lands sold and the rental derived from
school lands. The general school taxes
consist of Il tax of two mills On the dollar
upon the assessed value of all taxable
property in the state, and n poll tax of
one dollar upon all qualified electors over
II and under 60 yours of age i'll the state.
There are i'll North Dakota npproxi-
mately 2.5OO.OOO acres set apart for the
support Of common schools and $4,000
acres deslgnted for the support of
charitable and educational institutions,
making i'll all, about 3.OGO,OOO acres to be
disposed Of for educational and charitable
purposes in the state.
OF the two and one half million acres of
land for the support of the common schools,
the Legislative Assembly has authorized
the sale of 100000 acres. OF this amount
the board of university and school lands
has sold and approved the sale of S9.S7S.53
acres, realizing therefor 81, 744. 75O.62, MI
average of 1888 per acre. Tho board
has also authorized the sale of all addi-
tional 10000 acres during the month of
July. the proceeds of which will increase
the value of all sales to nearly two million
dollars.
The state receives six per cent interest
ON all deferred payments of the purchase
price of lands sold, payable on the first
day of January of each year. The deferred
payments constitute four tifths of the
total purchase price. One-ffth of the
purchase price of the land is paid to the
state by the purchaser upon the day of
sale. These cash payments, constituting
tho permanent school fund, now amounts
to $34S, 95O.1O and after the next sales,
will probably reach 100000.
The permanent school fund is being in
vested by the board of university and
school lands from time to time as OppOr-
tunity offers and at Il rate hat will net the
state about four per cent per annum. ac-
cording to tho last published report of the
department of public instruction, the total
moun of school district bonds issued by
common school districts and special dis
tricts in the state and outstanding on June
Both, 1880, was only $3.50, 293.44. Com
pairing these figures with the amount of
the permanent school fund it is evident that
the state can purchase and hold nearly one
half of the total amount of outstanding
school district bonds issued in the state,
and that from one-tifth of the proceeds of
One-twenty-ffth of the lands for the sup
port of common schools.
1t is evident from the figures given
above, that the interest from these two
sources, investments M deferred partial
payments, o the sales already made or
provided for. will amount to about $l12,-
600 annually, after January LIST, next.
Five per cent of the net proceeds of all
public lands sold in North Dakota by the
United States from year to year, is appro-
priated by congress to our permanent
school fund, and will add materially to
that fund.
41,86S.43 acres of indemnity school lands
and 1853 ,929.21 acres for public, educational
and charitable institutions have already
been selected and filings have been re-
corded i'll the land Offices. About $4,000
acres i'll addition thereto have been select
ed and are ready for filing. The balance
Of the land appropriated for these pur-
poses is being selected as rapidly rs the
nature of the work will allow. A consid-
cradle revenue from these sources will
accrue to the state. These selections will
nr0hol,1v En nfforol fnv oolo "a, 1o,,o .,-.k
year.
Rental on school lands for the year 1891,
not including lands sold during that year.
amounted to $44.4G2.9 81. After deducting
lands sold during 1892, and adding thereto
the probable rental to be derived from in
demnity school lands to be leased next
spring, it is probable that the annual
rental will be upwards of $;35, 900.
The interest and income fund will thus
amount to at least $147,OOO annually after
the present year.
The assessed valuation of taxable prop
erty i'll the state in 1891 was 81. 1893, 464
and the two mill general tax thereon fur
nishes S175, $4,000 for school purposes.
The probable assessment of one hundred
million dollars this year will realize a
general tax of two hundred thousand dol
lars for the state tuition fund.
The poll list of 34.36O qualified electors
in the state who are subject to poll tax
furnishes a basis for the collection of an
equal number of dollars for the state tut
ton fund. Thirty five thousand dollars
from the poll tax for the ensuing year is
a conservative estimate.
The net proceeds of all fines, penalties
II fOrfeitures i'll the state during the year
ending November l, 1891. amounted to 3d.
O27.96. We may safely estimate an equal
amount of revenue from this source for
the following years.
The apportionment of the state tuition
fund made August 81, 1891, for the nine
months ending June 30, 1891, was at the
rate of $3.50 per capita; the apportion
ment made December %, 1891, for tho
three months ending September 80, 1891,
was at the rate of 65 cents per. capita; the
apportionment made March ~, 1892, for
the three months ending December 81,
1891, was at tho rate of $1.65 per capita;
and that made June 6. 1892, for the three
ending March 81, 1892, was at the
of 81 IS per capita, making a total
per capita apportionment of $7,45 for
months, The total amount of