| Show university LANDS be it enacted by the governor aud and legislative assembly of the territory of ef utah Sec section tin 1 the commissioners tu to locate university lands tor for the territory of utah shall complete the location of the university pity lauds as provided for in the third section of an act of congress 3 entitled an act to establish the office of surveyor general of utah and to grant lands for school and d university purposes ur poses 13 approved february wa 1856 they shall acquire aire said title to said mid lands in the name of the territory of utah and record the same in the office of the bounty bwy recorder of each county in the C territory where said lands or any of teem are situated and after the same recorded as an aforesaid they them shall deposit the same in the offles office of the secretary ecret ary of the territory of utah they shall keep a copy of ef said title in their office and dle another copy with the tee board of regents of the university of utah see sec 2 the said commissioners are hereby constituted a board of appraisers to appraise said lands the place lace of their office shall be in salt me lake city see bee 8 the said commissioners shall proceed to have said lands surveyed in the tee smallest legal aub subdivisions divisions of the united states surveys and shall cause good and substantial posts to be placed upon the corners of said cub divisions on which shall be plainly marked the proper description of said subdivision sub division as aa described in the united states survey and for this purpose they shall employ the county surveyor of the re spec tive counties in which said lands are located who shall be paid the same compensation for their services as allowed by the territorial fee bill sec 4 As soon as the said lands in any county have been surveyed the commissioners commissio nets shall procure a proper shaft inn map of said lands as platted they shall cause a copy of the same to be recorded th in the thae secretary of the territory and another in the office of the board of regents of said raid university ver sity they shall also cause a plat of the said eaid university lands lying in any county to be filed in the office of the county recorder of the county in which said eald lands are situated sec 6 5 As soon boon aasand maps of said lands have been procured and filed as aforesaid said board of appraisers appraise shall make a careful inspection of said lands and if any ny of said lands are occupied and improved they shall make and keep 9 particular description of all improvements made upon each of said subdivisions with a full and fair estimate of the value of said improvements and the name and address of the person claiming the same they shall appraise all of said lands appraising each of said subdivisions separately at a fair cash valuation and where lands have been improved as aforesaid they shall not take into consider consideration atlon any increased value of said lands by reason of said improvements they shall list said lands soad and the price at which the same are age appraised by them and file a copy of said list or lists with the secretary of the territory and with the board of regents of said university provided however that none of the said lands shall be appraised at a sum less than two and one half dollars per acre see sec 6 As soon as lists are filed as aforesaid the board of regents shall meet and prescribe the length of the period of years within which payment shall be made by the purchaser of said lands at the sales hereinafter provided when full payment is not dot made at the time of sale and conveyance as hereinafter provided the purchaser shall in all cases pay legal interest in advance on any unpaid sum and the unpaid purchase money shall be paid in equal yearly i stall ments and if a purchaser fail or neglect to pay said interest of any of said installments when they are due and payable and for six months thereafter then all payments made upon said land by sait said purchaser are forfeited as liquidated damages and said lands will be again subject to sale as hereinafter provided free and discharged from said pure purchase pase sec bee 7 As soon as appraisal of said land in any county is completed as provided for ju in section 5 said commissioner shall proceed to advertise said lands for sale at public sale by posting notices thereof in at least six public places in the county where said lands may be situated for at least sixty days before the day of sale fate aud by publishing a like notice in a newspaper printed hinted and published in salt lake gity city and having general circulation in such county or counties and also algo in a newspaper paper published in said county if there be one for at leant sixty days next preceding the day of sale said notices shall contain a description of said land according to the united states survey and the time place and terms of sale see sec 8 any person having settled upon occupied cultivated or improved any ADY of said lands may at any time after said notices shall have been published and before the day of sale men tinned in said notices purchase the same at private sale at the appraised pr sed value thereof upon the torl terms fixed x by the board of regents tut it ruch puch per son refuse or neglect to purchase such lauds lands as aforesaid within the time aforesaid then the same shall be sold at public t tale ale to the highest bidder sec bee 9 the place of public sale of all said lands shall be at the burc house of the county in which the land to be sold Is situated sec 10 it shallie shall be the duty of said commissioners one of their number to attend at such sales and make sale of the same but no lands ahall be sold at ac said sale at beag than their appraised value ten per cent of the purchase price must be paid down at the time of i sale by the purchaser and the remain remainder der of the price must be paid on such terms and at a eh ch rate of interest and at such the said board of regents may prescribe but the interest must be paid annually in 10 advance sad no deed of conveyance shall be issued to such purchaser until the full amount of the purchase price and interest thereon has been paid in full but such purchaser may at such sale pay the full amount of said purchase price and conveyance shall issue to him forthwith upon said payment see sec 11 all money for the purchase of said land shall be paid to the secretary of the board of regents whose duty it shall be to attend at said sales he shall give his bis receipt and upon full payment of the purchase price or purchase price and interest as the case may be he shall issue to the purchaser a certificate signed by the chancellor and secretary which shall state the name and residence of said purchaser the description of the land purchased the date when purchased and the date when full pa ment was wa made and that said purchaser is entitled to a 9 conveyance of said land to him in fee and said purchaser upon presentation of said certificate to the secretary of the territory shall receive a deed in the name of the territory of utah signed by the governor and secretary of the territory under the seal of the territory of utah conveying to him in fee the land as pur chased sec 12 all of said lands not sold as aft hereinbefore provided may after they have been so offered for public sale be sold at private sare sale by the board of regents kt a sum not legs left than their appraised value upon the terms prescribed by said board or they may be sold at public sale upon notice given by said board for the time and in the manner herein provided but in no case shall they be sold for less than the appraised value and said board may from time to time offer said lands for sale as aforesaid whenever they deem proper and may from time to time require said board of appraisers to make a new appraisement of said unsold lands provided that lands so again appraised shall not be sold at private sale until they have been offered at public sale as hereau before provided see sec 13 the governor and secretary of the territory of utah are hereby authorized and directed to make and deliver to the purchaser of the said lands the deed hereinbefore provided for upon the presentation of the die certificate see sec 14 the proceeds of all sales as a alor aforesaid essid shall be deposited with the treasurer ol of the university of utah Wh who shall ashall kep keep a separate account of the same see bee 15 16 the board of regents are empowered am cowered to invest the proceeds of sais ald sales in bonds issued by the territory of utah or bonds issued by counties cities and school districts in eaid aid territory all securities acquired with said laid fund shall be taken and held in the name of the un hersity of utah and nd collected discharged and released in that name av V sec bee 16 all proceeds of sales of lands aforesaid shall without dimina tion remain and costi constitute tute a fund for the benefit of the university of utah and no part of said fund sha I 1 be expended for any purpose whatever but shall be held for investment and rein vestment perpetually as a separate fund but all interests accruing from said investment of said fund may be used for the general maintenance of said 0 sec bee 17 it shall be the duty of the board of regents on the arst monday in january 4 jn n each year to report all sales in duplicate showing the lands sold for what price sold what payments have been made what credits given the investments made and the amount of cash belonging ng to said fund unhand on hand they file one duplicate lo in the office of the be secretary Beuret ary of the territory and one in the office ot of the territorial auditor of public recounts accounts sec 18 at the beginning of each regular session of the legislature the board of regents shall make the governor and legislative assembly of the territory of utah a full report showing the lauds lands sold to whom the price paid the amount paid and unpaid the amount and description of the lands unsold the disposition and investment of the money realized reali eed from sales of said aid land the amount of interest re and the general conditions of the lands and fund and they shall also make to the governor and legislative Ain assembly embly such further amended and supplemental reports as said legislature or any committee appointed appoint edby by oaid legislature to examine the transactions of the board of regents may require sec bee 19 the members of odthe the board of app appraisers misers for their services do As such appraisers shall receive compensation at the rate of five dollars per day for each beach day actually g given ivan to appraisal or other necessary service rendered in the performance or of their duties under this act they shall ateo also be allowed all other expenses actually and necessarily incurred in the performance of their duties herein imposed upon them they shall file in the office of the territorial auditor an itemized account of such services and expenditures verified by their oath upon the filing of mail account said auditor shall issue a warrant upon the territorial treasurer there or sec bee 20 the surveyors hereto herein provided for shall file an itemized account approved and allowed by the commissioners sio ners to locate university lands with the territorial auditor au aitor who shall thereupon issue a warrant upon the territorial treasurer sec 21 the chancellor and board of regents are hereby given full power and authority to make all needful rules and regulations not conflicting here with to carry out the purposes of this act ot sec bee 22 the board of regents shall dot receive any compensation for per bonal services but they may be pad actual expenses incurred in transacting the business sec bee 28 there is ig hereby appropriated from the territorial treasury the sum aum of ova thousand dollars for the purpose of defraying the expenses to be incurred in carrying carding into effect the provisions of this act to be drawn as herein provided and only so ao much thereof as admay may be necessary shall be expended exo ended sec 24 this aft act shall bein be in effect from and after its approval approved march 10 1892 1 |
