The Birmingham age-herald., 1903-10-03

section lands, which coHtaiA ot S @ believed to contain minerals De le enacted by the Legislature oi Aia- bama -.
 o, trnstees of any township may Wlth tha annrovel of the State Superintendent os Eaucatlon. as hereinafter provided sell a,,9 si~teenth section school lands or .their resnectfye townships, which contain ar ara believed to contain minerals, in inc following manner: Upon the request af +hraa or more inhabitants of such ta,,,,,sbtn the township trustee or trus- +aas shall hold an election to ascertain u,bather the lands of such township shall
 ha sold. such election shall be under the 1 oontrol and supervision of the toWnshp l trustees or trustee and shall be held after fen days notice has been given thereon by nesting notices at three public places Tn the township. If in such electioh ma {or,tv of the qualified electors of such tounshin who are the parents of children attandins the public schools of such t,n,nshIn vote for sale of such lands suob township trustee or trustees shall oause to be published once week for 1 tbrea successive weeks, in some news naper published in the county where such lands are situated notice that sealed hids will be received by said trustee or trustees at time and place specified in such notice from persons desiring to purchase all or any part of such lands of such township. And such uus- tee or trustees shall, at the time and place named In said notice, receive sealed bids of all persons who may desire 10 pnr- chase any of such lands. Such bids shall state whether the bidder desires to pur- chase all or a part of such lands. the price he proposes to pay for the same, how much if any of such purchase money IS to De paid in cash. and the security he pro- poses to give for any unpaid purchase money the rate of interest such unpaid purchase money shall bear and the time and lnstallments. if any, such unpaid pur- chase money shall be paid in. and if such lands have been previously leased. such bids may be for the rent as well as Tor the reversion of such lands; and such bids may contain any other proposal with reference to the purchase of such lands and the security to be given for unpaid purchase money If such trustees or trustee approve any of such bids, the same shall be by them or him forwarded to the State Superintendent of Education. If such bid is approved by the State Superintendent of Education. he shall mark 1t approved. If disapproved by him. he shall mark 1t disapproved; and
 in either event he shall file it with the records in his office. In the event of the approval of such bids by the Superin- tendent of Education. the bidder shall execute his obligation or obligation with two suretles 10 be approved by the Superintendent of Education. for the un- piad purchase money Of such lands and the interest thereon, which obligation or obligations shall be payable to the town ,tt c.. ts xt. ,,a1. Ia. lnc which shall be kept by the Superlnten- dent of Education. The bidder shall also pay any cash provided by his bid to be paid In cash and thereupon the Superintendent of Education shall issue to such purchaser a certificate of pur- chase which shall describe the land sold and shall fully set forth price, terms and conditions of the sale as set forth in the accepted bid; such certificate shall be prima facie evidence that all the prerequisites to valid sale of such lands have been complied with If default Is made in the payment of any installments, interest or principal agreed to be paid by such purchaser and such default con tinues for one year or more, all title to the land sold shall revest absolutely in such township Upon payment in full of the purchase money with any interest agreed to be paid, there shall issue to such purchaser patent to be signed by the Governor and attested by the Sec retary of State. which shall be conclusive evidence that all title to the lands therein described has vested in the purchaser named therein. In the event of the aboh- ton by law of the office of township trustees the duties herein provided to be performed by them shall be performed by the County Superintendent of Educa- ton.
 Sec. ?. That all purchase money for such lands. cash and deferred and all interest such unpaid purchase money shall be paid to the Superintendent of Education by whom it shall be reported to the Auditor and paid into the State Treasury. And the principal of all such purchase money paid into the State Treasury and any money paid as a sink ing fund shall bear interest in the same manner as other school funds in the treasury bear interest, which shall be used exclusively for the public schools of the township to which such lands be- long And all interest paid annually or oftener by the purchaser on the deferred payments of purchase money. shall not. after being paid into the State Treasury bear interest, but shall be annually ap- portioned to and used exclusively in the maintenance of the public schools of such township.
 sec. 5. lnat TOT tnelr serViceS m con- nection with any sale made under the provisions of this act the township trus- tees or trustee shall receive one-half of one per cent of the amount of the pur- chase price named in any accepted bid, which shall be paid to such trustees or trustee by the Superintendent of Educa- ton out of the first payment of the prin- cipal of such purchase money received by him.
 Sec. {. That all laws and parts of laws. general and local. in conflict herewith be and the same are hereby repealed.
 Approved Sept 22, 1903.
 Official
 J. Thomas Hefiin,