, 1925-01-23
UNDER The


the war and the deflation OF the
interests for whom he desires to
render aid.
The title Of Mr.. Spears, bill
shows completely its purposes and
is as follows:
IAN act providing for the Amor
tlzation Plan of payment for State
Lands; setting forth the contents
OF certificates of purchase; author
izing certificates OF purchase now
outstanding to DO converted into
now Amortization Certificates. and
amending and re-enncting Sections
729 and 1913 Of tho Wyoming Com
piled Statutes OF 1890
The body of the bill follows:
BE It enacted by the legislature
OF the state of Wyoming;
SECTION /. That Section 129 OF
tho wyoming compiled statutes of
1920, be amended and re-enacted to
read as follows:
Section 729. Terms Of payment
Tho terms OF payment for school
and state lands shall be as follows;
Not less than ten per cent of the
purchase price in cash on day of
sale. the balance IN not to exceed
thirty equal payments figured on
the amortization plan. which shall
include interest on tho deferred
part Of said payments at the rate
Of four per cent per annum and six
per cent per annum on all amounts
not paid when due. Tho purchaser
may pay in full at the time Of sale
- .--v 9fa1VDa NH II
be made at any time II interest is
paid on same to the time Of the next
annual payment"
SECTION 2. The amortization plan
f. hereby defined, when applied TO
state land contracts or ceraficates.
as being that plan under which part
of the principal is required to be
paid each time interest becomes due
and payable. and under. which this
part payment on the principal In
creases at each succeeding Install
ment in the same amount that the
Interest payment decreases, so that
the combined amoun duo on prin-
cipal and interest on each due date
remains the same until tho loan Is
paid in full.
section 8. Certificate OF Pur-
chase. Section 733 of the wyom-
ing compiled statutes OF 1920, is
hereby amended md re-enacted to
read as follows: Section 1888. when
any state land rhall have been pur-
chased according to law. the board
shall make and deliver to the pur-
chaser a certificate of purchase,
which shall contain the name of the
purchaser, n description of tho land
purchased. the sum paid. the sum
remaining unpaid. the amount of an
nual payments, which shall include
the accrued interest, upon the amor
fined. and the date on which each Of
the deferred payments falls due. All
annual payments shall be due and
payable on the first day OF Deem
Der of each year. providing that In
forest is paid on the full amount o.
the deferred payments at the rate
OF 4 per cent per annum from date
OF the sale TO tho first day of De-
cember following such date Of sale.
Section 4. Any certificate OF
purchase OF state or school land IS
sued and outstanding when this act
AAkta tAAfNA may no ANhfHAA'A ANNN
an amortization certificate on the
plan set forth In this Act at the re-
quest or tho holder Of said c%ertifi-
cato OF purchase, and with the con-
semi Of tho State board OF Land
commissioners.
Tho Commissioner OF Public Lands
shall collect IN addition TO the foes
provided by law the sum Of Two
and no-100 dollars $4,000 to be used
by him for expenses Incidental with
transfers as made optional by this
act for supplies. extra clerk hire.
etc. and any unused portion Of same
shall be paid 10 tho State Treasurer
at such time as all transfers have
been made"
Senator Spears bill was considered
IN committee OF the whole today
and certain amendments agreed TO,
Tho above IS tho corrected and
amended BIN now before the senate.