attached shall be severally signed by the director, moderator and treasurer of the district board.

SEC. 8. [Statements by school district officers.]-It shall be the duty of the proper officers of any school district in which any bonds may be voted under the authority of any law of this state, before the issuance of such bonds, to make a written statement of all proceedings relative to the vote upon the issuance of such bonds, and the notice of the election, manner and time of giving notice, questions of submission, results of a canvass of the vote on the proposition on account of which it is proposed to issue such bonds, together with a full statement of the assessed valuation, the number of children of school age residing in the district, and total bonded indebtedness of the school district voting such bonds. Such statement shall be certified to under oath by the proper school board of the district, and be transmitted with the bonds proposed to be issued to the auditor of public accounts.

SEC. 9. [Registration by auditor.]-The auditor shall examine the statements and bonds so submitted to him, and if he be satisfied that such bonds have been voted in conformity to law, and are in all respects in due form, he shall record the statement and register the bonds in his office, and no such bonds shall be issued or be valid unless they shall be so registered and have endorsed thereon a certificate of said auditor and the secretary of state, showing that such bonds are issued pursuant to law, the data filed in the office of said auditor being the basis of such certificate.

SEC. 10. [Certificate of registry-Payment.]-Upon the registration of such bonds aforesaid, the auditor of public accounts shall certify the fact to the county clerk of the county in which the district is situated, and also to the proper officers of such school district, and whose duty it shall be to enter the same upon the proper records of such school district, and taxes for the payment of such bonds and the interest thereof shall be levied in the manner provided by section 13 of this act.

SEC. 11. [Non-registry.]—If the auditor of public accounts is not satisfied that such bonds have issued according to law, he shall return the same to the proper officers with a certificate to that effect.

SEC. 12. [Effect of act on bonds heretofore issued.]-Bonds heretofore issued under any of the provisions of any law of this state may be registered in the office of the auditor of public accounts upon compliance with the provisions of this chapter, but nothing herein contained shall affect the validity of bonds heretofore issued, and not registered under any law of this state.

SEC. 13. [Taxation for payment-Sinking fund.-It shall be the duty of the board of county commissioners in each county to levy, annually, upon all the taxable property in each school district in such county, a tax sufficient to pay the interest accruing upon any bond issued by such school district, and to provide a sinking fund for the final redemption of the same, such levy to be made with the annual levy of the county, and the taxes collected with other taxes, and when collected shall be and remain in the hands of the county treasurer a specific fund for the payment of the interest upon such bonds, and for the final payment of the same at maturity. It shall be the duty of the county clerk to furnish a copy of his register to the county treasurer.

SEC. 14. [School district defined.]--That the phrase and expression "school district," as used in the preceding section, is hereby declared to mean, intend, and refer to the school district as it existed immediately prior to and at the time of the issuance of any bonds by said school district, including all lands and property and inhabitants comprised and contained in said school district at the time of the issuance of any bonds including all and any portions of said district subsequently separated from said district, whether by formation of a new district or by any change of boundaries of said original district.

SEC. 15. [Excess of tax over payment due-Investment.]-Any money remaining in the hands of any treasurer, after the payment of interest due

on any bonds which are a valid and legal obligation against the school district to which such money belongs, and the retention of a sufficient amount to pay the accruing interest upon such bonds for the current year, shall be retained as a sinking fund for the final redemption of such bonds and shall be by the treasurer, when so ordered by the school board, invested as follows, to wit: First. In redeeming bonds of the school district issuing the same; Second. In registered bonds of the county in which the district is situated; Third. In the bonds of the state of Nebraska; Fourth. In the bonds of the United States; Provided, That the bonds thus purchased shall in all cases be purchased at the lowest market price, after twenty days notice by publication in at least one newspaper published and in general circulation at the capital city or town of the state; the cost of which advertising, at legal rates, shall be paid out of the sinking fund for the redemption of such bonds.

SEC. 16. [Payment, where and how made,]-When the interest and principal, or interest only of such registered bonds are payable in New York City, or elsewhere out of the state, payment shall be therein made at the place so designated in such bond or coupon, or at the commercial agency of the state for such purposes, and in order that the funds may not be misapplied, the treasurer shall procure a draft for the amount, to be transmitted by drawing his check on some bank in this state, and both check and draft shall be so endorsed as to show upon what bond or bonds the funds shall be applied; or, at the request of the party holding or owning said bonds, payment may be made at the office of said treasurer.

SEC. 17. [County treasurer liable.]-The tax and funds so collected shall be deemed pledged and appropriated to the payment of the interest and principal of the registered bonds herein provided for, until fully satisfied, and the treasurer shall be liable on his official bond for the faithful disbursements of all moneys so collected and received by him.

SEC. 18. [Cancellation of bonds-Fees of county treasurer.]-When any registered bonds shall mature the same shall be paid off by the treasurer, at the place where the same shall be payable, out of any money in his hands or under his control for that purpose, and when so paid the same shall be endorsed by the treasurer on the face thereof, "Cancelled," together with the date of such payment; and thereupon be filed with the clerk, who shall enter satisfaction of such bonds upon the record of such school district. In case said bonds are payable out of the state, an allowance of one-fourth of one per cent. shall be made to the treasurer for the expense attendant in making such payment, to be deducted from any money in his hands remaining after payment of such matured bonds.

SEC. 19. [Acts repealed-Bonds heretofore issued.]-That the act entitled "An act to amend an act entitled 'An act to establish a system of public instruction for the state of Nebraska," approved February 25, 1875; and, also, those portions of the act entitled "An act to provide for the registration of precinct, or township, and school district bonds," in conflict with this act, and all other acts and parts of acts inconsistent with this act be and the same is hereby repealed; Provided, That nothing in this act shall affect in any manner the validity of bonds heretofore issued.

SEC. 20. [School district bonds-Refunding.]-That any school district in the state of Nebraska, which has heretofore voted and issued bonds to build or furnish a school house, or for any other purpose, and which bonds or any part thereof still remain unpaid, and remain and on [are] a legal liability against such district, and bearing interest at ten per centum per annum, is hereby authorized to issue coupon bonds at a rate of interest not exceeding seven per centum per annum, to be substituted in place of, and exchanged for such bonds heretofore issued, whenever such school district can effect such substitution and exchange, at a rate not to exceed dollar for dollar. [1879 § 1, 176.]

SEC. 21. [Recitals in new bonds.-The new bond so issued shall have SEC. 20-2. "An act to provide for the funding of outstanding school district bonds." Laws 1879, 176. Took effect June 1, 1879.

recited therein the object of its issue, the title of the act under which the issue. was made, stating the issue to be in pursuance thereof, and shall also state the number, date and amount of the bond or bonds for which it is substituted, and such new bond shall not be delivered until the surrender of the bond or bonds so designated. [Id. § 2.]

SEC. 22. How issued and paid.]-The new bonds as issued shall not require a vote of the people to authorize such issue, and they shall be paid, and the levy be made and tax collected for their payment in accordance with laws now governing the said bonds heretofore issued. [Id. § 3.]

SEC. 23. [High school redemption bonds.]--That any school district in any city of the first class in this state be and is hereby authorized and empowered to issue its coupon bonds of such denominations as the board of education of such school district may deem best, and in an amount equal to the amount outstanding and unpaid of bonds bearing interest at the rate of ten per cent per annum, heretofore issued for the purpose of erecting a high school building, by such school district, or by any school organization or board of regents which shall have been superseded by such school district. [1879 § 1, 167.]

SEC. 24. [Condition-Description.]—Any bonds issued under the provisions of this act shall be for the payment, by the school district issuing the same, of the sum specified therein, made payable in the city of New York, in not more than twenty years, nor less than five years from the time they are issued, with interest at a rate not exceeding seven per cent. per annum, payable semi-annually; said bonds and coupons shall be required [signed] by the president of the board of education and countersigned by its secretary; Provided, That such bonds may be made redeemable at any time after five years, at the option of the board of education. [Id. § 2.]

SEC. 25. [Disposition-Avails.]-It shall be the duty of the board of education of any school district issuing bonds under the provisions of this act, to negotiate such bonds, but for not less than the par value thereof, and all the proceeds arising from the sale thereof shall be paid to the treasurer of the board of education, and shall be applied solely to the redemption and purchase of the bonds heretofore issued by such school district, or school organization superseded by it, for the purpose of erecting a high school building, and bearing interest at the rate of ten per cent. per annum; Provided, That none of the said bonds heretofore issued shall be redeemed or purchased for more than the face value thereof. [Id. § 3.]

SEC. 26. [Issuance-Payment.]-The bonds issued under the provisions of this act shall not require a vote of the people to authorize their issue, and they shall be paid, and taxes shall be levied and collected for their payment in the same manner as is now provided by law for the payment of bonds heretofore issued by such school districts. [Id. § 4.]

CHAPTER 80.-SCHOOL LANDS AND FUNDS.

ARTICLE I. GENERAL PROVISIONS.*

SECTION 1. [Board of educational lands and funds.-That the board of commissioners provided for in section one of article VIII of the constitution, consisting of the governor, secretary of state, treasurer, attorney general, and the commissioner of public lands and buildings, shall cause all school, university and agricultural college lands now owned by, or the title to which may hereafter vest in the state, to be registered, sold and leased, and the funds arising from the sale thereof to be invested in the manner provided by this act. [1877 § 1, 174.]

SECS. 23-26. "An act to authorize any school district in any city of the first class to issue bonds in certain cases." Laws 1879, 167. Took effect February 26, 1879.

*ART. I. "An act to provide for the registry, sale, leasing and general management of all lands and funds set apart for educational purposes, and for the investment of funds arising from the sale of such lands." Laws 1877, 174. Took effect Feb. 19, 1877. This act supersedes Laws 1867, 37. G. S. 990

SEC. 2. [Records delivered to commissioner.]—All records, books, and papers, appertaining to any of the lands described in the preceding section, now in the possession of any state or county officer, and all records, leases, notes given for the unpaid principal of school lands, or any other books and papers appertaining thereto, now in the possession or under the control of any county officer or commissioners in any county, shall forthwith be turned over and delivered to the commissioner of public lands and buildings, and be by him preserved under the direction of the board.

SEC. 3. [Abstracts of educational lands.]-The commissioner of public lands and buildings shall, under the direction of the board, cause suitable abstracts to be made of all the lands owned by the state for educational purposes, and entered in suitable and well bound books. Such abstracts shall show in proper columns and pages the county in which each tract is situated, the section, part of section, township and range; whether timber or prairie; whether improved or unimproved, the appraised value per acre, the value of improvements and total value; the date of sale, name of purchaser, price per acre, amount paid in cash, amount unpaid and when due, amount of annual interest, names of sureties on notes, date of lease and when recorded, names of lessee, length of lease, amount of annual rental, date of patent and when recorded, and such other columns as may be necessary to show a full and complete abstract of the condition of each tract of land from the time title was acquired by the state until final payment by the purchasers and the issuance of a deed for the land.

SEC. 4. [University and agricultural college lands-AbstractsAppraisal.]-When the title to the university and agricultural college lands shall have been perfected, it shall be the duty of said board to cause abstracts thereof to be made by counties, on blank forms prepared for that purpose, and shall forward the same to each county clerk, who shall forthwith appoint three persons, none of whom shall reside upon the land shown by such abstract, who shall subscribe to an oath before a proper officer, to carefully appraise the prairie lands in tracts not to exceed forty acres each, and the timber lands in tracts not exceeding ten acres each, and to appraise any improvements thereon, and to make due and prompt return to the county clerk. Upon the completion of such appraisal the county clerk shall return the abstract thereof to the commissioner of public lands and buildings, and the appraised value of such lands shall be entered upon the abstract provided for in the preceding section.

SEC. 5. [Re-appraisal of lands.]-The said board may, when they deem it to the best interests of the state, cause any unsold lands, the sale and leasing of which is regulated by this act, to be re-appraised, and the re-appraised value thereof entered upon the abstract hereinbefore provided for.

SEC. 6. [Indemnity school land-Appraisal.]-Whenever the title to any lands selected in lieu of sections sixteen (16) and thirty-six (36), of school lands has been confirmed, the same shall be appraised in the manner provided in section four (4) of this act.

SEC. 7. Sale of educational lands.]-In all counties where the appraised value of any portion of unsold lands shall exceed seven (7) dollars per acre, the commissioner of public lands and buildings shall, either in person or by agent, attend at such times as the board may direct, but not more than once in any one year, and offer at public auction all the unsold lands, except such as have been leased, to the highest bidder; Provided, That the agent herein provided for shall be the county treasurer of the county in which such lands shall be situated; Provided, That notice of such sale, and of the time when, and place where the same will be held, shall be given by publication in some newspaper published in the county, or in case no newspaper is published in the county, then in some newspaper of general circulation therein; Provided further, That no lands shall be sold for less than the appraised value thereof, nor offered for sale, or sold for less than seven (7) dollars per acre in addition to the improvements on the land.

SEC. 8. [Terms of payment-Notes]-Payments for lands sold under

the provisions of this act shall be made as follows: For prairie lands at least one-tenth of the price cash in hand, or such other sum more than one-tenth as the purchaser may desire; other lands, one-half cash in hand; or cash down for either at the option of the purchaser. When full price is not paid as above, the purchaser shall give a promissory note for the remainder, to mature in twenty years after date, bearing interest at the rate of six per cent. per annum, payable annually in advance; the first payment of interest being computed to the first day of January next after the date of the note; Provided, That when such note is given for timber land, it shall be endorsed by two freeholders of the county, to be approved by the commissioner of public lands and buildings; And provided also, That nothing in this act shall be so construed as to prevent purchasers from making full payment at any time during the year by computing the interest to the first day of January following such payment.

SEC. 9. [Payments, when made.]--Payments made at such sales shall be made to the county treasurer, who shall deliver to the person making such payment a receipt therefor, and any person making full payment shall, upon the presentation of his receipts therefor to the board, be entitled to receive a deed from the state. The commissioner or his agent shall report in writing to the auditor of public accounts the amount so paid to the county treasury, and payments so made shall at once be turned over by said county treasurer to the state treasurer. Notes given for deferred payments shall be kept by the land commissioner, and all payments of interest made shall be properly endorsed thereon, and when final payment is made, and a deed therefor issued by the state, the said notes shall be delivered up to the purchaser or his assigns.

SEC. 10. [Collection of interest-Receipts.]-The commissioner of public lands and buildings shall on or before the first day of December in each year, make out and transmit to each county treasurer, a statement showing the description of each tract of land, which the records of his office show have been sold in said county, with the name of the purchaser and the amount due as interest thereon on the first day of January next. The county treasurer shall keep said statement in his office and use diligence to collect the same. When payments are made he shall deliver duplicate receipts therefor to the person paying the same, one of which shall be filed in the office of the county clerk, and by him transmitted to the auditor of public accounts, and the other shall be countersigned by said clerk and returned to the party, and no such receipt shall be held valid unless countersigned by said clerk. The said county treasurer shall, on or before the first day of May following, return said statement with a note of all payments made thereon, and all lands upon which interest remains unpaid shall be forfeited to the state, and offered for sale at the next public sale of lands referred to in this act, in that county; Provided, That the purchaser or his assignee, may redeem said land upon payment of the interest due thereon, and interest thereon at the rate of six per cent. per annum from said first day of January until the time of such redemption; Provided, Such lands have not been sold to other persons. And any lands so redeemed shall not be re-sold unless again forfeited as herein provided.

SEC. 11. [Time of payment extended.]-In all cases of school lands sold prior to July 1, 1876, and any forfeiture shall have occurred by reason of nonpayment of principal, the time of payment thereon shall be extended for the term of ten (10) years from and after the aforesaid date; Provided, The purchaser of such lands shall make application for such extension on or before the first day of June, A. D. 1877, and pay all interest that may be due thereon at such date; and any party who has heretofore bought school lands and executed a note in payment thereof, and has neglected to pay the deferred payments or interest due thereon, shall, upon the surrender of said lands to the state, with all improvements thereon, be entitled to have said note cancelled and given up.

SEC. 12. [Value of improvements deducted.]-Any person purchasing lands upon which they have made improvements shall be allowed to deduct