Year: 1868

| SEC. |. 1t shall be the duty Of the
General Assembly to provide for tho
establishment of board, to be know,
and designated as Commissioners o
Public Lands, q winch board the Comp
troller General Of the State shall be q
member, and to define the powers anl
duties Of said board, and FIX the compen
sation Of tho members thereof, and tt
provide for the current expenses there
Of.


SEC 2. The Commissioners of Pub.
lie Lands shall have authority, under
regulations provided by law, to purchase
at public sales or otherwise, improved
and unimproved real estate within this
State, which, in the judgment Of sucl
Commissioners, shall be suitable for tho
purpose intended by the fourth section
Of this article; Prooi;ded, That the ag-
gregate amount Of purchase made IN
any fiscal year shall not exceed the par
value of the public stock Of this State
created and appropriated by the Gene.
raj Assembly for the purpose contcm-
plated in the fourth section of this arti-
Gle for such fiscal year; Ind Providcd
also, That the rate at which any such
purchase shall be made shall not exceed
sevcnty.fvc per cent. Of the value Of the
land so purchased, including the i'm
provcmeuts thereon such valuation to
be ascertaincd in the manner hereinafter
provided by law.


SEc. 3. The General Assembly shall
have authority to issue to said Commls-
sioners public stock Of this State to such
amount as it may deem cxpcdient ;
which stock. or the proceeds thereof,
tho Commissioners shall have authority
to apply in payment of all purchases
made in accordance with the second sec.
ton Of this article Provided, That such
public stock shall not bc negotiated
at a rate less than the par value there
OF.


SEC. 4. Tho said Commissioners shall
have authority, under such regulations
as shall be established by the General
Assembly, to cause tho SAID lands to be
surveyed and laid of into suitable tracts
to be sold to actual settlers, subject to
Tire condition that onc-half thereof shall
be placed under cultivation within three
years from the dtac Of any purchase !;
and that the purchaser thereof shall am
nually pay Interest upon the amount Of
such purchase money remaining unpaid
at the rate Of seven per cent. per annum.
And also all taxes imposed thereon by
or under the United States or this
State and, in addition thereto, shall in
every year after the third from the date
OF said purchase. pay snch proportion of
the principal of said purchase us shall be
required by the General Assembly
The titles to said lands shall remain in
the State until tho amount of said pur-
chase shall be paid principal and interest.
But certificate OF such purchase shall
bc issued to the purchaser, which, sub
jcct to the condition Of said purchase,
shall be assignable after three years
from the date thereof.


SEC. 8 All lands purchased by sad
Commissioners, or the proceeds of the
sales thereof shah be and remain plcdg.
ed for the redemption OF the public stock
issued under section Sd OF this Article.
But the General Assembly shall have
authority, subject to such lien and pledge
to make upon the faith and credit of
said fund further issues Of public stock !;
but the stock issued as hast aforesaid.
and the proceeds thereof, shall be used
exclusively for the redemption of the
public debt Of the State outstanding at
the date of such issues md which shall
not be funded.


SEC. G. The General Assembly shall
provide by law for The security 0! thc
funds in the hands Of the Commissioners
of Public Lands. and for the acconnta-
bility Of such officers and shall require
bonds to be given therefor.


Articles S, 6 and I Of the Judiciary
report, relating to Jurisprudence, eminent
domain, and impeachments, wero read
by sections and passed to third read
ing, rs far as the 9Th section Of the TLh
article.


Section 9 was laid on the table.


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