Chap. 130.—An ACT providing for the Sale of Lands or Serip donated by
Concress for Education,

Passed January 27, 18650.
Whereas the congress of the United States did pass an
act, approved the ‘seéond of July, eighteen hundred and

sixty-two, entitled an act donating public lands to the several
states and territories which may provide colle¢es for the
hencfit of agriculture and mechanic arts, with certain con-
ditions and provisions therein mentioned : and whereas the
eeneral assembly of Virginia, by an act passed the fifth of
February, eighteen hundred and sixty-four, did accept the
said act ‘of coneress, with the conditions and provisions
therein pr esented : Therefore,

1. Be it enacted by the ceneral assembly of Virginia, That.
the governor of the commonwealth be and is hereby directed |
and. empowered to appoint an agent or commissioner, to ap-
ply to, and receive from the government of the United States,
the scrip or warrant of land to which the said state of Vir-
cinia may be entitled by virtue of the said act of congress,
and make sale thereof, as hereinafter directed.

”. Beit further enacted, That before the said commissioner
shall enter upon the duties of his office, created by this act, |
he shall enter into a bond, in the penalty of two hundred
thousand dollars, payable to the commonwealth of Virginia,
with security deamert suflicient, and approved by the cfov-
ernor, conditioned for the faithful discharge, by him, of the
duties of his office or trust created by this act: which said
bond the governor shall deposit with the auditor of tha
commonwe: ralth, and cause the same to he recorded by the
secretary of the commonwealth.

3. Be it further enacted, That the said commissioner shall
make sale of the said |: inds or scrip, or any part thereof, at a
minimum price per acre, to be fixed, from time to time, by
the board of the literary fund of the commonwealth, and
deposit, once in cach month, the proceeds of the said sale or
sales with the treasurer of the commonwealth, and shall make
a written report of his proceedings to the governor.

4. Be it further enacted, That the treasurer shall keep a
separate account of the moneys received by virtue of’ this
act; and the capital of the fund thus created shall remain
forever undiminished (except so far as may be provided. in
section five of the said act of congress).

5. Be it further enacted, That the board of the literary
fund of the commonwealth shall, from time to time, invest
the money derived from the sale of the lands or scrip afore-
said, in stocks of the United States, or in certificates of the
indebtedness of the state of Virginia, or in some other safe
stocks, yielding not less than five per centum per annum upon
the par value of said stocks or certificates; and the said
board shall issue their warrant upon the treasurer of the
commonwealth for said investments, who is hereby directed
to pay the same.

6. Be it further enacted, That: whenever any of the said
stocks or certificates shall be paid, the money thus paid shall
be reinvested, as required by the fitth section of this act.

7. Be it further enacted, That the compensation of the
said commissioner shall be one-half of one per centum on the
amount of the sales (which per centum is to Inciude all ex-
penses incurred by him in discharge of his trust); and that
the suin of two thousand dollars is hereby appropriated, out
of any money in the treasury not otherwise appropriated, to

gcwn*
pay the same; the said sum, or so much thereof as may he
necessary, to ‘be drawn by the said board of the literary
fund, by warrant on the treasury of the state.

x. Be it further enacted, That the governor of the state
shall, in the name of the commonw ealth, make, and deliv er
to the said commistioner, all proper authority and powers to
execute and discharge the duties of his oftice, In the sale and
transfer of the land or scrip mentioned in this det.

9, This act shall be in force trom its passage.

Chap. 130.—An ACT providing for the Sale of Lands or Serip donated by
Concress for Education,

Passed January 27, 18650.
Whereas the congress of the United States did pass an
act, approved the ‘seéond of July, eighteen hundred and

sixty-two, entitled an act donating public lands to the several
states and territories which may provide colle¢es for the
hencfit of agriculture and mechanic arts, with certain con-
ditions and provisions therein mentioned : and whereas the
eeneral assembly of Virginia, by an act passed the fifth of
February, eighteen hundred and sixty-four, did accept the
said act ‘of coneress, with the conditions and provisions
therein pr esented : Therefore,

1. Be it enacted by the ceneral assembly of Virginia, That.
the governor of the commonwealth be and is hereby directed |
and. empowered to appoint an agent or commissioner, to ap-
ply to, and receive from the government of the United States,
the scrip or warrant of land to which the said state of Vir-
cinia may be entitled by virtue of the said act of congress,
and make sale thereof, as hereinafter directed.

”. Beit further enacted, That before the said commissioner
shall enter upon the duties of his office, created by this act, |
he shall enter into a bond, in the penalty of two hundred
thousand dollars, payable to the commonwealth of Virginia,
with security deamert suflicient, and approved by the cfov-
ernor, conditioned for the faithful discharge, by him, of the
duties of his office or trust created by this act: which said
bond the governor shall deposit with the auditor of tha
commonwe: ralth, and cause the same to he recorded by the
secretary of the commonwealth.

3. Be it further enacted, That the said commissioner shall
make sale of the said |: inds or scrip, or any part thereof, at a
minimum price per acre, to be fixed, from time to time, by
the board of the literary fund of the commonwealth, and
deposit, once in cach month, the proceeds of the said sale or
sales with the treasurer of the commonwealth, and shall make
a written report of his proceedings to the governor.

4. Be it further enacted, That the treasurer shall keep a
separate account of the moneys received by virtue of’ this
act; and the capital of the fund thus created shall remain
forever undiminished (except so far as may be provided. in
section five of the said act of congress).

5. Be it further enacted, That the board of the literary
fund of the commonwealth shall, from time to time, invest
the money derived from the sale of the lands or scrip afore-
said, in stocks of the United States, or in certificates of the
indebtedness of the state of Virginia, or in some other safe
stocks, yielding not less than five per centum per annum upon
the par value of said stocks or certificates; and the said
board shall issue their warrant upon the treasurer of the
commonwealth for said investments, who is hereby directed
to pay the same.

6. Be it further enacted, That: whenever any of the said
stocks or certificates shall be paid, the money thus paid shall
be reinvested, as required by the fitth section of this act.

7. Be it further enacted, That the compensation of the
said commissioner shall be one-half of one per centum on the
amount of the sales (which per centum is to Inciude all ex-
penses incurred by him in discharge of his trust); and that
the suin of two thousand dollars is hereby appropriated, out
of any money in the treasury not otherwise appropriated, to

gcwn*
pay the same; the said sum, or so much thereof as may he
necessary, to ‘be drawn by the said board of the literary
fund, by warrant on the treasury of the state.

x. Be it further enacted, That the governor of the state
shall, in the name of the commonw ealth, make, and deliv er
to the said commistioner, all proper authority and powers to
execute and discharge the duties of his oftice, In the sale and
transfer of the land or scrip mentioned in this det.

9, This act shall be in force trom its passage.