The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1907-05-07
ARIICLE N.

Section /. The state hereby accepts al
grants Of land and donations OF money
made BY the United States under the
provisions Of the enabling act and any
other acts Of congress- for the uses and
purposes and upon the conditions. and
under the limitations for which the same
are granted or donated. and the faith
OF the state IS herc.y pledged 70 hold
such lands as o sacred trust, and %
keep the same for the uses and purposes
for which they were granted or donated
See q All proceeds VI the sale Of pub
lIs lands that have heretofore been or
may be hereafter given By the United
States for the use and benfit OF the
common schools Of this state, all such
per centum as may be granted BY the
United states on the sales Of public
lands. the sum OF five million dollars
appropriated to the state for the use
and benefit OF the common schools in
lieu OF sections sixteen and thirty-sx
and other lands Of the Indian Territory
1.-THE proceeds Of all property, that shall
fan to the state BY eacheat, the proceeds
Of ali gifts or donations to the state for
common schools not otherwise appro-
prlated By the terms Of the gifts, ara
such other appropriations, gifts or dona-
tlons as shall be made BY the legislature
for the benefit Of the common schools,
shall constitute the permanent school
fund, the income from which shall be
psed for the maintenance Of the COM
mon schools in the state. The principal
shah be deemed trust fund held BY tha
state, and shall forever remain invlolate,
1t may be increased but shall never be
diminished The state shall reimburse
said permanent school, fund for all losses
thereof which may In any manner oc-
cur. and no portion Of said fund shall
be diverted for any other use Or purpose.
Sec. g. The interest and income OF the
permanent school fund, the net income
from the scasing Of public lands which
have been or may be granted by the
United States To the state for the USE
and benefit Of the common schools. to-
gether with any revenues derived from
taxes authorized to be levied for such
purposes and any other sums which may
be added thereto BY law shall be used
and applied each year for the benefit
Of the p4blle schools Of the state, and
shall be. for this purpose. apportioned
among and between all the several COM
mon school districts Of the state in pro-
portion 10 the school population OF the
several districts and no part Of the fund
shall ever be diverted, even temporarily
from this purpose. or used for any other
purpose than the support and maInte-
nance 81 public schools for the equal
benefit Of all the people of the state
Sec, & All public lands set apart to
tbe state BY congress for charitable.
penal, educational and public building
purposes and all lands taken in lieu
thereof may be sold BY the state un-
der such rules and regulations as the
legislature may prescribe. in conformity
with the regulations OF the enabling act.
Sec s. Section IL in every portion or the
state which has been granted to the
state shall he held Cor the use and bene-
ft OF the University or Oklahoma and the
University Preparatory school one-third;
OF the normal schools now established or
hereafter to be estableshd, one-third; ana
Of the Agricultural and Mechanical coll
aege ana coiored Agricultural ana Normal
university. one-thlrd. The said lands or
fhe proceeds thereof as above appor-
tioned to be divided between the institu-
tlons as the Legislature may prescribe;
provided. that the said lands 80 reserved.
OF The proceeds OF the sale thereof or OF
any Indemnity lands granted IN lieu q
section thirteen shall be safely kept or
Invested and held by the state as a
trust. which shall never be diminished,
but may be added to, and the income
thereof, interest. rentals. or otherwise,
only shall be used exclusively for the
benefit OF said educational institutions.
Such educational institutions shall re-
main under the exclusive control OF the
state and no part Of the proceeds aris-
ing from the sale or disposal OF any
lands granted for educational purposes or
the income or rentals thereof, shall be
used for the support OF any religious or
gectarsan school, college or university,
and no portion OF the funds arising from
the sale Of sections thirteen or any in
demnity lands selected In lieu thereof,
either principal or interest, shall ever be
VIZ tf1itE'if 'itiipi tptAbVthfiJ VI lfoAHAA-
nently, from the purpose for which said
lands were granted to the state.
Sec. g. The permanent common school
and other educational funds shall be in
vested in fist mortgages upon good and
Improved farm lands within the state
(and no cash shall be more than fifty
poF centum Of the reasonable valuation
Of the lands without improvements be
loaned on any tracD. okahom astate
fpnds. county bonds OF the counties or
!. ollnhorn school district bonds Of the
school districts OF Oklahoma United
n gtates honds. preference being given to
the securities in tile order named
The legislature shall provide the man
mar Of soliciting the securities aforesaid
name the officer to make such invest
nent prescribe the rules. regulations. re.
rtricslons and conditions upon which
tAn funds aforesaid shall be loaned or
Invested. and do all things necessary for
the safety Of the funds and permanency
q saa Investment