Chap. 69.—An ACT to Authorize the Sale of the Land Scrip donated toa
Virginia by the Congress of the United States, and Providing for the
Investment of the Proceeds thereof.

Tn force February 7, 1872.

1. Be it enacted by the general assembly of Virginia, That.
the board of edueation be and they are hereby authorized to
sell, in the manner that shall seem to them most advantageous,
the land scrip donated to the state of Virginia by act of con-
eress of the United States, approved July second, eighteen
hundred and sixty-two, and the acts amendatory thereof: and
with the proceeds of such sale the said board shall purchase
bonds of the state of Virginia or of the United States. or any
other safe bonds or stocks, not bearing less than five per cent.
interest, and shall set the same apart, and constitute them into
an educational fund, for the endowment, support and mainte
nance of one or more schools, in accordance with the provi-
sions of said act of congress; and in making sueh sale the pre-
sident or rector of any incorporated institution of learning
which may hereafter be authorized to disburse the interest upon
the proceeds of said sale, shall be admitted to consultation and
conjoint action with said board: provided, the institutions to
receive such proceeds shall be designated before the adjourn-
ment of the present session of the general assembly.

2. This act shall be in force from its passage.

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