Pennsylvania Act 1858-165 — GRADUATING LANDS MONEY DUE COMMONWEALTH - INTEREST CHARGES

Act text

GRADUATING LANDS MONEY DUE COMMONWEALTH - INTEREST CHARGES
                 Act of Mar. 19, 1858, P.L. 132, No. 165              Cl. 68
                                  AN ACT

     To Revive and Continue in force the law Graduating Lands upon
        which purchase money is due the Commonwealth, and regulating
        the mode of charging interest thereon.

        Section 1.  Rates of interest to be charged
        From and after the passage of this act, it shall be the duty
     of the surveyor general, on the settlement of any account for
     moneys due the Commonwealth on lands which may have been
     surveyed, on proprietary office rights, or warrants issued by
     this Commonwealth, or on actual settlement and improvement, to
     charge the following rates of interest, namely: On all lands
     where the original purchase money is twenty pounds, (fifty-three
     dollars and thirty-three and one-third cents,) per hundred
     acres, one per cent, per annum; on lands issued at the rate of
     fifteen pounds ten shillings, (forty-one dollars and thirty-
     three and one-third cents,) two per cent, per annum; on lands
     issued at the rate of ten pounds, (twenty-four dollars,) three
     per cent, per annum; on lands issued at the rate of five pounds
     sterling, (twenty-two dollars and twenty-two and one-fourth
     cents,) and that issued at the rate of twenty dollars, three and
     one-half per cent, per annum; on land issued at the rate of five
     pounds, (thirteen dollars and thirty-three and one-third cents,)
     four per cent, per annum; on lands issued at the rate of fifty
     shillings, (six dollars and sixty-six and two-third cents,) six
     per cent, per annum; no interest to be charged on lands issued
     at eighty cents per acre: Provided, That in no case, either of
     warrant, location or improvement, or any other office right,
     shall interest be charged on the purchase money of any of the
     aforesaid lands, for the time which elapsed between the second
     day of December, 1776, and the second day of December, 1783:
     Provided further, That no interest be charged on any lands north
     and west of the Rivers Ohio, Allegheny and Conewango Creek,
     previous to the third day of April, 1797, and in all cases where
     patents are issued upon the actual settlement and improvement,
     to any actual settler, no interest shall be charged for five
     years after such improvement and settlement was commenced:
     Provided nevertheless, That the owner of any unpatented tract of
     land, who is actually occupying same, shall have the benefit of
     the act, passed April 10, 1835, the Commonwealth of
     Pennsylvania," and the supplement thereto, passed May 4, 1855,
     until the first day of December, 1859, and this proviso shall
     also extend and apply to laws embraced in the second section of
     this Act. 1858, March 19, P.L. 132, Sec. 1.
        Section 2.  Rate of interest on unpaid purchase money for
     lands situate in the seventeen townships
        All lands situate within the seventeen townships, formerly in
     the County of Luzerne, now in the Counties of Luzerne, Wyoming
     and Bradford, which have been certified to the Connecticut
     claimants, by the commissioners appointed in pursuance of an act
     of Assembly, entitled "An act for offering compensation to the
     Pennsylvania claimants of certain land within the seventeen
     townships in the County of Luzerne, and for other purposes
     therein mentioned," shall pay the following rates of interest,
     namely: All lands classed by the said commissioners as numbers
     one, two and three, to be charged interest at the rate of two
     per cent per annum; all lands classed as number four, to pay six
     per cent per annum.  1858, March 19, P.L. 132, Sec. s.
        Section 3.  Rates of interest on unpaid purchase money on
     "in-lots" and "out-lots," and reserved tracts
        All the in-lots and out-lots, and reserved tracts in and
     adjoining the towns of Beaver, Erie, Waterford, Franklin and
     Warren, which have heretofore been sold in pursuance of an act
     of Assembly, and upon which there is any of the original
     purchase money due, shall pay at the rate of two per cent per
     annum, from the time mentioned in the act for the sale of such
     lots or tracts; and that all laws requiring an actual settlement
     on any of the above mentioned reserve tracts, be and the same
     are hereby repealed: Provided, That the in-lots, out-lots, and
     reserved tracts mentioned in this section, which upon
     appraisement in the manner provided for in the act relative
     thereto, approved April 13, 1838, (P.L. 343, Sec. 8.) shall have
     been or may be rated in the fourth class as number four, may be
     patented on the payment of the original purchase money due
     thereon, with the patenting fee, without interest, until the
     aforesaid first day of December, 1859. 1858, March 19, P.L. 132,
     Sec. 3.