The Omaha guide., 1944-11-04

of the Permanent School Fund, from it's inception in
1867 to June 30, 1914, was made in order to deter
mine the amount of loss sustained by the fund. The
audit, showing a loss of $685,566.83 was submitted
to the Legislature. $181, 637.73 Of the amount was
acknowledged as rental from saline lands which had
been enormously credited to the Temporary School
Fund. Legislative Bill IS was therefore enacted as
a corrective measure, and the loss to the Permanent
School Fund definitely established in the amount of
$500, 929.10 Following the recognition of a definite
loss, Legislative Bill lat was passed, providing for
a one-tenth Of one mill levy to be imposed upon all
taxable property in the state, except intangibles, for
the purpose Of reimbursing the Permanent School
Fund for losses sustained therein. The records Of
the office of the State Treasurer show a collection
of $145, 1865 under the provisions of this law.
Upon the recommendation of the Board of Edu-
~cational Lands and Funds the legislature approved
and declared $145, 100000 North River Irrigation Dis
trict bonds held by the state, a loss to the Perma-
nent School Fund. This loss, in addition to the proven
loss Of $500, 1929. 10, denotes a grand total loss to the
Permanent School Fund Of $648,929.10.
All personal property which has escheated to
the State of Nebraska during the past three years
has been sold under the provisions of Legislative Bill
IL and the proceeds from the sales deposited with
the State Treasurer for the benefit Of the Permanent
School Fund.
It was brought to the attention Of the Legis-
lature that the records Of this office show consider
able land has been taken by public power and irriga-
ton districts and railroad companies; also, a large
amount of land was taken for highway purposes
IIllO OOluPCl1oCIOu W ClC SCdJO. "A SpCCldl dppIU-
priation of $13,90000 was therefore made to cover
the expense of investigation and litigation necessary
to recover the loss sustained thereby to the Perma-
nent School Fund. The help Of Mr.. Robert A. Nelson,
Assistant Attorney General, and legal adviser for
this department, has been Of tremendous value during
this biennium.
| wish to direct your attention to the report
on the reappraisement of school lands which shows
a total of 772,954.06 acres of school land mapped,
classified and reappraised during the biennium. AS
a result Of this reappraisal the total appraised valua-
ton Of school land has been increased $685., 203.92
with an increase Of $49,992.24 per annum in the reve-
nue. from the land.
There are 1,636,3O7.29 acres Of state educa-
tional lands held under $3.50 school land leases. All
land is under lease or contract with the exception of
30 acres. The records of the office show 38,864.27
acres of educational lands under 452 sale contracts.
During the biennium, all accounts forfeited because
Of the failure OF lessees and contract holders to pay
their delinquent rentals or interest have been rein
stated with the exception Of four accounts. The
state stands to lose more than $174.05 in delinquent
rentals by reason Of these delinquent accounts. The
total rental collection for the biennium is $875, 809.97.
the end of this biennium it was necessary to send
delinquent notices to 1859 of the $3.50 lease holders,
and to 3 Of the 452 sale contract holders. These lessees
and contract holders have ninety days before for
fixture date in which to reinstate their accounts. 1t
is my opinion that no more than five Of the accounts
will remain unpaid and thus necessitate their sale
at public auction.