Case Information
*1 am-uary 20, 1929 25,ooo.QO lotea purpofma?” for road . . Tb;o~aeQtachoolfuQdibpawldeJd& 200t1oM 2 and 6 or ~tlole Yxx or the 0oMt1ttlt1oa Mus. 5aatioa 2, Art. vff. rea.aa.as rollowm
. . 'All funds, 10zlds end otbrm property ht~9t0fora th9t apart and a2proprfetctd ror support oi? publlo.aohaole; 833 the ultaraate seat¶..c~ of lmnd raawved by the St&o out of g%%nts herctofora mde or that zwy hermftar be aada to rallro.las ar other aorporatlana of aty nature srfrstsoever; czie-hslf of the Tublio r;oinrllzl or the swita; irnd Ull' Dums or .zoJley that zmy cicmo to the Stste from the ~420 of my prtial uf tha oa.a, 6hd.1 oonrtitute a parpetucrl pe.110 SChWi fund."
sao. 6. A-t. VSI. rwda in part ‘9s follow4t
-All LArt;Ls horotofora, or bersdtsr ~~ant+d to the bemmal o.untioa or #%a 3ta:ed , *2 ;.,..
,... .‘\ I‘
!i,,& * . . . -_ i c- . ,’ . . _ : . .:
. Hon. .%fllan C. Wikmsld, februsry~20, 1939, 5%~ 2 for aduoatliursl pu~oaea, are ot rlpht tbo . . F-m Oi aald O-t%88 l'88~OtlV8ly, to
uhloh theyorora mtiod and tltlo therato is veatecl Su 8aSd awutiaa, and uo rdrerae paawasou or 1lmltat1oll ahall avor k avsil- able abydaat tha title 0r say uouaty. xaob 00my 338~ 8di 0r as8p080 0t it8 land8 in whole or iti part, in maaaec to be provided by the ooannlaslonara' mul!t of the aouuty i . ;.
aald lamla, au6 tha proowda thoraos, wlmn aou,; shall bu bald By aald aountlaa aloaa a trust ior tb8 b8wrst OS pubii0 aohaa tomb: 8Jia proowla to bs lmoatad la boada of tha United statea, stata of 2axoa, or oowtlaa su acid atats, or in auah othar aaourltlar, axd under suoh reatrictloua as wy.lm preaorSbed by law; aad tba ootmtitfa aJmll ba rauponalbla ior all Savaatawnta; tlia lntaraat theram, and .j: other ravauua, axoept the Frluolpd shall ba aralXabla fluid.*
Thsa last quoted pra&ion or tha aondltaw weeadopted 08ana~mWntSa tlou,2eo.6,ntLVII, lB&5. Irr.tha aaao OS Boydatua ve 8oolarall Gown*, 86 2~. , oowaruad oulytha lnT48taKdOS 234,24ss,lL272,whioh a Uouat~*apqrnm~nt 8dhoalSuuU iotR& boadaof wothar oamuty,. th8 alpram aourt OS 2awa aowauto(L 011 ws pro- s 7l6loa or tha mBatltutioli aa followa: . To al-8 of o*lnsoi, thamfora that tha
I'awuded 8eotSou was lntamlad to ooker authorl~ '
. Vhi6er auoh 0th~~ roatrlotlona .
aa~y~.preaoribeJ,~lsrr'~~thrrtths ls~m.ature nlrht throw raotrlatloM - Invoatwnt, and not that it ~88 bound to do so before t&e powr .oould b8 oxaroiaed.*
The 1aa&o(ys of 900. 6, Art. VXI. la plain and anonbf@ou8. It aaya that the pracaadn trcm the 8.10 or sohool lands, -nhioh Is pexmaent rohool fund monoy,we "to be invested lr; land8 of . . . aouIltloo in said Stete. . . under suah rastrlotiana ns my ba preuorlbed by 13~". That olaarlp zwilas thnt a oouaty say lnveat its permanent lwogo *3 Hon. :'llliw C. 203xmld, F'obruory 2C, 3939, Porn S school funil 3a tba 8onda of say and all oouu~loa or ths la Eoydatun 9. Rookamll
wlaua [no atu~d County, the Lqdolatum has thrown rebatrlotlona wound the Tha only krwucufa that ** 04n tlnd in the stieatos whomin the ~oaialattm hns suld how aad where thla mxley shall ba illreSt& la hrtlole 2aa4 or tho Ra- viaad Civil statutoa ot.Toxuo, viblob aafar Taob oounty zany sell or 4'~s~ of the
lfmla .-ranted to it ror eduoatioml purpowa lnauohzmnaoraa~y~#ldedbytbotbe
misolowra' oourt of. auob oouuty lma tha pro- _ *. oaeCaofauyauoha3lo ahall- imeatad in _’ bon08 of tha UuSta6 states, tho State OS Taxoa, th4 bonds OS tba oountlsa of tha 3tnt0, curd tho
oomm aohool dlstriOt8, road iador-t Or
pro0 0t, &alna~, IrrlcatSoo, natlmtion mrd
lOma Untriota in thla Stata, and tha boado of lnoorporatoaoltlos aadtownE,mld holcrby auoh oouuty alouo so a trust for tha bofmflt ,: at publlo traa aahMb therob, sly the bitarC :. aattharoouto bausod ati orL"pood annually." -_ .- . .
ml8 it.atute nltarfstoa tbia mousy ah& ba Suvwto& ‘. . su oertalu bouds lnolua~ "tba bon48 of tha oumtloe OS tha stnta"~ ha oartn%nLy no'reatrlotlan or lid- tatlonaatouhatommtybon4armybe~t. %bmlSmO tto~imoatthlambnoylnltaown to%i% kthaaa t h+ the rl@t lutoat St lu bw68 v of otbor ooulltlel. Ia~&tp thfa opinion w act ~ooutroatod with lo 37 To%. Jur. 86l, as tollowar
the stat*& -?han pmasada oi tho aala ot wuuty lands ar0r0oolro4bytheoomPi~lonere~ 00urt it io duty.ol.tha oourt thaxmf'ter to la- vest tbe~asme ao.direotod by the Conatltution. ' It 1s provldod (art.7, boo. 0). tbot the pro- ooeda still 'bo lnvcstcd ?n botis oS.ths lsnitcd Stntea, tho 2t3tt3 of Tezm. or oountlea io aela rhnte, or In 3uoh other soourltioa and tnxlor nuab rcatrlotlom 38 my bo pmcor bod 1 by lm; MC oountloo shall bo miponolble Sor 3ll ~voatmnta; tho intorost thoreon, and other zzmv&y': oxoopt tbo prlnoipal shall be =milubl.
.xthwlty to invitst the jxoooeda 8houU _ be exerulsod by the oo”mio~ionora~’ oourt . . . WA otnmty hso no gor.or to invast. thb plXI- o0oda la It22 oxu bonds.-
t3ohQol rmla la oertaln co~ohe t?ounty baaa was ottaokoa, eml~~aCoart ot Civil ApP?mls held that the babd~ wra .* . . . ror Kllnt of any allthortty for thalr lssu- _a enoo'; end asauondsr?ltaad lttboooorti#Ld that itweu :
lmpropet tar the cowlsalow~ lnvoet ooaat~‘6 gomenont aoboo2 fun6 in thoso Invalid bonds or wy 0th~' lanuid hondo hoomu~e of the faot of tholr lnvell6ltT. C' ._. Thorefortt, 1~0 do not tlxlnk oaao of Cowwohg county Vb
stattlrpsnt ia