History of the Agricultural College Land Grant of July 2, 1862: Together with a Statement of the Condition of the Fund, Derived Therefrom as it Now Exists in Each State in the Union

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Journal Book and Commercial Printing House, 1890 - 106페이지
 

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104 페이지 - State which may take and claim the benefit of this act, to the endowment, support, and maintenance of at least one college where the leading object shall be, without excluding other scientific and classical studies, and including military tactics, to teach such branches of learning as are related to Agriculture and the Mechanic Arts...
102 페이지 - Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That there be granted to the several States, for the purposes hereinafter mentioned, an amount of public land, to be apportioned to each State a quantity equal to thirty thousand acres for each Senator and Representative in Congress...
83 페이지 - SEC. 3. And be it further enacted, That all the expenses of management, superintendence, and taxes from date of selection of said lands, previous to their sales, and all expenses incurred in the management and disbursement of the moneys which may be received therefrom, shall be paid by the States to which they '-* may belong, out of the treasury of said States, so that the entire proceeds of the sale of said lands shall be applied without any diminution whatever to the purposes hereinafter mentioned.
103 페이지 - That in no case shall any State to which land scrip may thus be issued be allowed to locate the same within the limits of any other State, or of any Territory of the United States, but their assignees may thus locate said land scrip upon any of the unappropriated lands of the United States subject to sale at private entry at one dollar and twenty-five cents, or less, per acre...
v 페이지 - If any portion of the fund invested, as provided by the foregoing section, or any portion of the interest thereon, shall, by any action or contingency, be diminished or lost, it shall be replaced by the state to which it belongs...
103 페이지 - Act, land scrip to the amount in acres for the deficiency of its distributive share, said scrip to be sold by said States and the proceeds thereof applied to the uses and purposes prescribed in this Act, and for no other use or purpose whatsoever...
105 페이지 - No portion of said fund, nor the interest thereon, shall be applied, directly or indirectly, under any pretense Whatever, to the purchase, erection, preservation, or repair of any building or buildings.
105 페이지 - State shall cease; and said State shall be bound to pay the United States the amount received of any lands previously sold, and that the title to purchasers under the State shall be valid.
65 페이지 - State for like purposes, shall be and remain a perpetual fund, the interest and income of which, together with the rents of all such lands as may remain unsold, shall be inviolably appropriated and annually applied to the specific objects of the original gift, grant or appropriation.
65 페이지 - ... the interest and income of which, together with the rents of all such lands as may remain unsold, shall be inviolably appropriated and applied to the specific objects of the original grants or gifts. The principal of every such fund may be increased but shall never be diminished, and the interest and income only shall be used. Every such fund shall be deemed a trust fund held by the state, and the state shall make good all losses thereof.

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