The Montgomery advertiser., 1903-10-03

No. zo.) AN ACT. tH. sss. To provide for the sale of sixteenth
 section lands, which contain or are pe-
 believed to contain minerals Be
 enacted by the Legislature or Ala
 bama:
 Section i. That the township trustee or trustees of any township may, wtn the approval of the State Superintendent. of Fdnca lion. as hereinafter provided. sell any sixteenth section school lands or their respective townships. which contain or are believed to contain minerals m the following manner: Upon the request of three or more inhabitants or sucn township the township trustee. or trus- tees shall hold an election to ascertain whether the lands of such township snaii be sold; such election shall be under tne control and supervision of the townsnip trustees or trustee and shall be held atter ten days notice has been given thereon py posting notices at three public places m the township If in such election ma jority of the qualified electors or suon township who are the parents or cniloren attending the public schools or sucn township vote for a sale of such ianos. such township trustee or trustees shall cause to be published once week for three successive weeks, In some news paper published in the county where sucn lands are situated, a notice that sealed bids will be received by said trustee or trustees at a time and place specined m such notice from persons desiring to rurchase all or any part or sucn lands of such township. And such trus- tee or trustees shall, at the time ana place named in said notice. receive sealed bids of all persons who may desire to pur- zR ,~h 1anAa af1rh hf0Q 9nalI 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 mucn if any, of such purchase money Is to De paid in cash and the security he pro poses to give for any unpaid purcnase money. the rate of interest such unpaid purchase money shall bear and the time and installments, if any. such unpaid pur- chase money shall be paid in. and If such lands have been previously leased. sucn bids may he 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 iands 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 1t with the records in his office. Tn the event of she approval of such bids by tho Superin- tendent of Education, the bidder shall execute his obligation or obligations with two sureties to be approved by the Superintendent of Education. for the un- piad purchase money of such lands and the interest thereon. which obligation ON obligations shall be payable to the town ship in which such lands are situated and which shall be kept by the Superinten- 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 shal! be prima facie evidence that all the prerequisites to a 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 fin such township. Upon payment in full of the purchase money with any interest agreed to be paid. there shall issue to such purchaser a patent to bo 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 aboil- 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 or such unpaid purchase money, shall be paid to the Superintendent of Education, by whom 1t 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-
 
 maintenance of the public schools of such township.
 Sec. 3. That for their services in 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. 4. That all laws and parts of laws. general and local, in conflict herewith be and the same are hereby repealed.
 Approved Sept. p, 1903.
 Official
 J. Thomas Hefiin,
 Secretary of State. No. 213) AN ACT (S. 102. To armand 9acfion 1302 of fba Coda of Ala.