Year: 1860

State Land Office, and entitle the purchaser to
a patent, which shall be issued by the Gov
ernor.


| 8 IL. In case the lands are purchased upon
n partial credit, as hereinbefore provided. the
contract shall at once be reduced to writing,
signed by the parties, and recorded in the office
of the Recorder, after which it shall he filed i'm
the office of the Clerk of the District Court, and
during the continuance of such contract it shall
be lawful for such purchaser, his heir or as
signee, at any time to pay the principle and in
terest due upon such contract, and receive a
certificate of purchase, as mentioned in the
preceding section.


| l3. When in the judgment of the Board Of
Supervisors, any school lands which they are
| about to offer for sale, are of such n character
that sale upon partial credit would be unsafe
or incompatible with the interest of the school
fund, and especially in the case of timbered
lands, the Board of Supervisors may, in their
discretion, exact the whole of the purchase mon.
ey in advance or if they sell such land upon
a partial credit, as hereinbefore prescribed, it
shall be their duty to require good collateral Sc
curity for the payment of the purchase money
upon which cr.d.t is given.


Ia. Whenever any purchaser fany school
lands sold under the prov sions of this act upon
partial credit, or any person to whom por.
ton of the school fund has been loaned, fails to
pay the interest upon the amount due the school





and such payment is not made within six
months thereafter, then, and in that case, the
entire amount both of principle and inter, st
owing to the school fund from such person,
shall be deemed to have become due, and the
Clerk of the District Court shall report the name
of the delinquent, together with the sum total
due from such delinquent to the District Attor.
ney of his Judicial District, who shall imme-
diately commence suit for the collection of the
amount thus reported. The provisions of this
section. in so far as they provide for the princi
pal owing for the purchase Of school lands, or
for money borrowed from the school fund, be-
coming due aud being collected at an earlier
day than that stipulated in the contract, upon
failure to pay the interest, are hereby declared
to be n part of every contract made under and
10y virtue of this act, whether expressed III suc,
contract or not.


10. All school lands, the sale of which
are provided for under this act shall be subject
| to taxation from and after the execution and de
livery Of the contract to the purchaser
10. All contracts relative to the sale Of
school lands provided for in this act, shall bc
subject to laws as now are, or may hereafter be
in force in this State, relative to the prevention
or punishment of waste.


IL. IL Is hereby made the duty of the
township trustees in each township, to see that
no waste be committed upon any school lands
lying in their township, aud in case any such
waste be attempted, it shall be their duty to APP
ply by petition to the District Court, or to any
Judge thereof, for an injunction to stay waste.
and the same if granted, shall be without bond
and shall stand for trial first in order upon the
court docket the same shall be tried in sum-
mary way, and upon such trial the said town
ship trustees shall be competent Witnesses
The court may make ST. h order in the premises
as shall be equitable and calculated to secure
the school lands from waste or destruc tion, and
may adjudge damages to the township trustees,
against the party for injuries done in such
ease; the costs shall abide the event of the
suit, and the damages shall be paid to the
county treasurer, and constitute u part Of the
i permanent school fund


Is. The provisions of section fourteen of
this act shall be of force as far applicable to
all cases where land is purchased, or money bor
rowed from the University Fund; and in case
of delinquency as provided for in said section,
the Treasurer of the State University shall
make the rapport therein required to the District
Attorney OF the district where the party SO pur
chasing or borrowing resides, or where the real
estate given as security for said purchase OF
loan Is situated.


l9. When, in the opinion Of the Board of
Supervisors, il may be necessary to have a por-
ton of the school lands stated in this act with
in their county surveyed they may employ the
county Surveyor for the purpose who shall le
paid out of the county treasury upon proofmlde
of the request and Performance OF the service
~. The permanent school fund shall be
loaned out. as hereinafter provided, as the same
may come into the hands of the County Treas
nrer, but no loan to any one person or company
shall exceed the sum of five hundred dollars,
nor shall any loan of the school fund be made
to the Clerk of the District Court. Treasurer, or
TO any member of the Board Of Supervisors.
Said loans shall not be made for shorter time
than one year nor for more than five wears.
II. The payment of the money thus bor
| rowed, together with the interest thereon, at
the rate OF ten per cent per annum, shall be Sc
cured by promissory notes executed by the par
! ty borrowing together with two good sureties,
and 10y mortgage on unincumbered real estate,
which, exclusive of any buildings, is appraised
by the appraisers hereinafter provided for at
/ double the value of the amount OF money leaned :
which real estate must be situated in the county
where such loan is made.


-. The value of real estate offered "a 81.
eurlty for money loaned as herein provided,
shall he fixed 10y three appraisers under oath,
who shall he selected by the Clerk of the Dis
triet Court, and in making the valuation pro.
vided for, the appraisers shall not take into con
slierauon any buildings that may be on the
land said appraisers shall be allow ed for their
services the sum of fifty cents each. To he raii
10y the party borrowing, and party borrowing
shall pay for rycording the mortgage given TO



~. When any person or persons desire 10
borrow from the permanent School Fund. he or
they shall apply to the Clerk Of the District
Court OF the county, and If in the opinion of
the said Clerk Of the District Court. it would he
10 the interest of the School Fund 10 gran such
application, he shall order the necessary papers
To be made out to secure the amount thus 10 b,
borrowed as required by section 81 and - OF
this act When the same are made ont they
shall be presented to the said Clerk Of the Dis
triet Court, who shall if he approve tho same
endorse thereon the word accepted. and sigu
his name below the same. and the Clerk shall
examine the title Ia amp real estate oil,red "a.
security, and make aud preserve an abstract el
such titles which shall be certified by him and


submitted 10 the Board Of Supervisors NJ tIeil
first meeting thereafter the Clerk may chargt
a fee not Ia exceed two dollars fur his services
IN making said abstract of,itle to be paid hy
the PARTY borrowing He shall then give Ia III,
party borrowing copy Of the promissory note
certifying over his hand and official seal that i
isa correct copy ot the same which. togethr
with a mortgage securing il has been filed ia
his office. aud upon tho parties presenting said
certificate to the Treasurer said Treasurer shal
! pay the amount specified in said copy of not,
out of tue permanent School Fund ia has pos
: session aud retain the said cyitfel copy a.


his voucher. The said Clerk Of the pissrie
III l.