clear space clear space clear space white space
A
 r c h i v e s   o f   M a r y l a n d   O n l i n e

PLEASE NOTE: The searchable text below was computer generated and may contain typographical errors. Numerical typos are particularly troubling. Click “View pdf” to see the original document.

  Maryland State Archives | Index | Help | Search		 search for:
clear space
white space
Supplement to the Maryland Code, Containing the Acts of the General Assembly Passed at the Session of 1864
Volume 382, Page 62   View pdf image (33K)
 Jump to  
   << PREVIOUS  NEXT >>
clear space clear space clear space white space

62 SCHOOLS. [ART. 84.

agement and superintendence, and taxes, if any, for the selection
of said lands previous to their _sale, and all expenses incurred in
the management and disbursement of the moneys which may be
received therefrom, and of all incidental matters connected with
or arising out of the management and sale of said lands, so that
the entire proceeds of the sale of said lands shall be applied
without any diminution whatever, to the purposes mentioned
in said act of Congress.

5. The moneys which may be received in the sale of said
land or scrip, shall from time to time, and as often as there shall
be a sufficient accumulation for that purpose, be invested by the'
Comptroller in stocks of the United States, or of this State, or
in some other safe stocks, yielding not less than five per centum
per annum on the par value of said stocks, and the money so
invested shall constitute a perpetual fund, the capital of which
shall remain forever undiminished, except as provided for in
and by said act of Congress.

6. The Comptroller shall keep separate books of accounts in
his office, of all matters relating to the said land scrip and lands,
and the care, management, sale and disposition thereof, and of
the investment of the moneys derived from the sale of the said
lands and land scrip, and of the manner in which the income of
the said fund may be disposed of, pursuant to an act of the
Legislature hereafter to be passed, authorizing the application
thereof, in conformity with the provisions of the act of Congress
aforesaid.

7. The Comptroller, in his annual report to the Legislature,
shall state the condition and amount of said fund, the expendi-
tures on account ,thereof, and all his proceedings and acts in
regard thereto.

8. All moneys received by the Comptroller under the pro-
visions of this act shall be forthwith deposited by him in the
Treasury of the State as a trust fund, with which a special office
and bank account shall be kept by the Treasurer, so that the
said moneys shall not be intermingled with the ordinary funds


 

clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Supplement to the Maryland Code, Containing the Acts of the General Assembly Passed at the Session of 1864
Volume 382, Page 62   View pdf image (33K)
 Jump to  
   << PREVIOUS  NEXT >>


This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.

Tell Us What You Think About the Maryland State Archives Website!

An Archives of Maryland electronic publication.
For information contact mdlegal@mdarchives.state.md.us.

©Copyright  October 06, 2023
Maryland State Archives