Pennsylvania Act 1887-56 — PENNSYLVANIA STATE COLLEGE - SALE OF LANDS

Act text

PENNSYLVANIA STATE COLLEGE - SALE OF LANDS
                  Act of May 13, 1887, P.L. 115, No. 56               Cl. 24
                                  AN ACT

     To authorize the sale of the eastern and western farms belonging
        to The Pennsylvania State College.

        WHEREAS, The Pennsylvania State College is now required by
     law to maintain three experimental farms,
        And whereas, The trustees of said college have found that the
     maintenance of such farms, at great distances from the college,
     involves a large and wasteful increase of expense, without
     corresponding advantage, and renders judicious oversight
     difficult or impossible, therefore,

        Section 1.  Sale of east and west experimental farms and
     disposition and investment of proceeds
        The trustees of the said, the Pennsylvania State college, are
     hereby authorized to sell the farms commonly known as the
     eastern and western experimental farms, or either of them, at
     the highest price at which they can be sold, at public or
     private sale, as a whole or in parcels, after at least sixty
     days' notice of such sale being given weekly in two of the
     newspapers, published in the county where such farm is located.
     The proceeds of such sale shall be paid by said trustees into
     the state Treasury, with satisfactory evidence to the State such
     sale was conducted in good faith, according to the requirements
     of this act, and shall there be held as a special fund, to be
     invested in the bonds of the State, or otherwise, the interest
     on which, at six per centum per annum, shall be paid by the
     State Treasurer, in equal quarterly instalments, on the first
     day of January, April, July, and October in each and every year,
     to the said trustees of the State college, to be used by them
     for the sole and exclusive purpose of maintaining a mechanical
     workshop and chemical laboratories, and of conducting
     educational and scientific experiments on the experimental farm
     located at the state college and laboratory tests and
     investigations connected therewith; and the principal of said
     proceeds is hereby inviolably appropriated and set apart as, and
     for the uses, herein prescribed: Provided, That, before any
     portion of the income thereof shall be paid to the said
     trustees, they shall execute and file with the Secretary of the
     Commonwealth an agreement to expend the whole of such income in
     the manner, and for the purposes, herein designated, and shall
     annually make to the Governor a full statement of their income
     and expenditures under this head: And provided further, That
     nothing contained in this act shall be construed to release the
     said trustees from the obligation to maintain a well equipped
     experimental farm near the college, as now required by law, or
     to impair or modify any other obligation or agreement now
     existing between the State of Pennsylvania and said state
     college, except as herein expressly provided.  1887, May 13,
     P.L. 115, Sec. 1.