Pennsylvania Act 1863-227 — AGRICULTURAL COLLEGES - LANDS GRANTED BY U.S. FOR

Act text

AGRICULTURAL COLLEGES - LANDS GRANTED BY U.S. FOR
                  Act of Apr. 1, 1863, P.L. 213, No. 227              Cl. 24
                                  AN ACT

     To accept the grant of Public Lands, by the United States, to
        the several states, for the endowment of Agricultural
        Colleges.

        Section 1.  Acceptance of lands donated
        The Act of the Congress of the United States, passed 1862,
     July 2, entitled "An Act donating public lands to the several
     states and territories which may provide colleges for the
     benefit of agriculture and the mechanic arts," be and the same
     is hereby accepted by the State of Pennsylvania, with all its
     provisions and conditions, and the faith of the State is hereby
     pledged to carry the same into effect.  1863, April 1, P.L. 213,
     Sec. 1.
        Section 2.  Surveyor General to receive and dispose of land
     scrip
        The Survey or General of the State of Pennsylvania is hereby
     authorized and required to do every act and thing necessary to
     entitle this state to its distributive share of land scrip,
     under the provisions of the said Act of Congress, and when the
     said scrip, is received by him, to dispose of the same, under
     such regulations as the board of commissioners, hereafter
     appointed by this act shall prescribe.  1863, April 1, P.L. 213,
     Sec. 2.
        Section 3.  Board of commissioners for purpose of regulating
     manner of disposing of land scrip and investment of proceeds
        The Governor, the Auditor General and the Surveyor General
     are hereby constituted a board of commissioners with full power
     and authority to make all needful rules and regulations
     respecting the manner in which the Surveyor General aforesaid
     shall dispose of the said land scrip the investment of the
     proceeds thereof in the State stocks of this state and apply
     interest arising therefrom as herein directed and in general to
     do all and every act or acts necessary to carry into full effect
     the said act of congress:  t;Provided: T: that no investment
     shall be made in any other stocks than those of the United
     States or of this Commonwealth.  1863, April 1, P.L. 213, Sec.
     3.
        Section 4.  Interest appropriated to State Agricultural
     College
        Until otherwise ordered by the Legislature of Pennsylvania,
     the annual interest accruing from any investment of the funds
     acquired under the said Act of Congress, is hereby appropriated,
     and the said commissioners are directed to pay the same to the
     Agricultural College of Pennsylvania, for the endowment, support
     and maintenance of the said institution, which college is now in
     full and successful operation and where the leading object is,
     without excluding other scientific and classical studies, and
     including military tactics, to teach such branches of learning
     as are related to agriculture and the mechanic arts.  1863,
     April 1, P.L. 213, Sec. 4.
        Section 4.1.  Bonds issued by any land grant institution of
     learning and loans secured by mortgages, their transfers and the
     income therefrom, (including any profits made on the sale
     thereof), shall at all times be free from taxation within the
     Commonwealth of Pennsylvania.
        (4.1 added Dec. 7, 1965, P.L.1052, No.399)
        Section 5.  Annual report of receipts and expenditures
        The said Agricultural College of Pennsylvania shall, on or
     before the first day of February, of each year, make a report to
     the Legislature of the receipts and expenditures of said
     institution, for the preceding year. 1863, April 1, P.L. 213,
     Sec. 5.