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7 U.S.C. § 304 — Investment of proceeds of sale of land or scrip
Federal law — U.S. Code and appendices · legal_authorities
All moneys derived from the sale of lands as provided in [section 302 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section302&num=0&edition=prelim) by the States to which lands are apportioned and from the sales of land scrip provided for in said section shall be invested in bonds of the United States or of the States or some other safe bonds; or the same may be invested by the States having no State bonds, in any manner after the legislatures of such States shall have assented thereto and engaged that such funds shall yield a fair and reasonable rate of return, to be fixed by the State legislatures, and that the principal thereof shall forever remain unimpaired: Provided, That the moneys so invested or loaned shall constitute a perpetual fund, the capital of which shall remain forever undiminished (except so far as may be provided in [section 305 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section305&num=0&edition=prelim)), and the interest of which shall be inviolably appropriated, by each State which may take and claim the benefit of this subchapter, to the endowment, support, and maintenance of at least one college where the leading object shall be, 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, in such manner as the legislatures of the States may respectively prescribe, in order to promote the liberal and practical education of the industrial classes in the several pursuits and professions in life.
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Stable record: federal_law:legal_authorities:record_usc_fbb18c0184e93116b173fcd1
Source file: Laws/federal/codes/united-states-code/title-7/section-304-investment-of-proceeds-of-sale-of-land-or-scrip--ad31447a13.md
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Passage SHA-256: 62a5158982e3c03c6c230c1756fe39a0a91bc722a82589883352520d534548d6
Source location: Title 7, Chapter 13, § 304; chapter-013-agricultural-and-mechanical-colleges.md
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All moneys derived from the sale of lands as provided in [section 302 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section302&num=0&edition=prelim) by the States to which lands are apportioned and from the sales of land scrip provided for in said section shall be invested in bonds of the United States or of the States or some other safe bonds; or the same may be invested by the States having no State bonds, in any manner after the legislatures of such States shall have assented thereto and engaged that such funds shall yield a fair and reasonable rate of return, to be fixed by the State legislatures, and that the principal thereof shall forever remain unimpaired: Provided, That the moneys so invested or loaned shall constitute a perpetual fund, the capital of which shall remain forever undiminished (except so far as may be provided in [section 305 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section305&num=0&edition=prelim)), and the interest of which shall be inviolably appropriated, by each State which may take and claim the benefit of this subchapter, to the endowment, support, and maintenance of at least one college where the leading object shall be, 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, in such manner as the legislatures of the States may respectively prescribe, in order to promote the liberal and practical education of the industrial classes in the several pursuits and professions in life.
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Federal law — U.S. Code and appendices · legal_authorities
The land aforesaid, after being surveyed, shall be apportioned to the several States in sections or subdivisions of sections, not less than one-quarter of a section; and whenever there are public lands in a State subject to sale at private entry at $1.25 per acre, the quantity to which said State shall be entitled shall be selected from such lands within the limits of such State, and the Secretary of the Interior is directed to issue to each of the States in which there is not the quantity of public lands subject to sale at private entry at $1.25 per acre, to which said State may be entitled under the provisions of this subchapter, land scrip to the amount in acres for the deficiency of its distributive share; said scrip to be sold by said States and the proceeds thereof applied to the uses and purposes prescribed in said sections, and for no other use or purpose whatsoever: Provided, That in no case shall any State to which land scrip may thus be issued be allowed to locate the same within the limits of any other State, or of any Territory of the United States, but their assignees may thus locate said land scrip upon any of the unappropriated lands of the United States subject to sale at private entry at $1.25, or less, per acre: And provided further, That not more than one million acres shall be located by such assignees in any one of the States: And provided further, That no such location shall be made before July 2, 1863.
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Federal law — U.S. Code and appendices · legal_authorities
The grant of land and land scrip hereby authorized shall be made on the following conditions, to which, as well as to the provisions contained in said sections, the previous assent of the several States shall be signified by legislative acts:
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 305
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Federal law — U.S. Code and appendices · legal_authorities
There is granted to the several States, for the purposes hereinafter mentioned in this subchapter, an amount of public land, to be apportioned to each State a quantity equal to thirty thousand acres for each Senator and Representative in Congress to which the States are respectively entitled by the apportionment under the census of 1860: Provided, That no mineral lands shall be selected or purchased under the provisions of said sections.
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 301
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Expenses** Notwithstanding [section 303 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section303&num=0&edition=prelim), the State of North Dakota shall manage the land granted to the State under [section 301 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section301&num=0&edition=prelim), including any proceeds from the land, in accordance with this section.
**(b) Disposition of proceeds** Notwithstanding [section 304 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section304&num=0&edition=prelim), the State of North Dakota shall, with respect to any trust fund in which proceeds from the sale of land under this subchapter are deposited (referred to in this section as the “trust fund”)—
(1) deposit all revenues earned by a trust fund into the trust fund;
(2) deduct the costs of administering a trust fund from each trust fund; and
(3) manage each trust fund to—
(A) preserve the purchasing power of the trust fund; and
(B) maintain stable distributions to trust fund beneficiaries.
**(c) Distributions** Notwithstanding [section 304 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section304&num=0&edition=prelim), any distributions from trust funds in the State of North Dakota shall be made in accordance with section 2 of article IX of the Constitution of the State of North Dakota.
**(d) Management** Notwithstanding [section 305 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section305&num=0&edition=prelim), the State of North Dakota shall manage the land granted under [section 301 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section301&num=0&edit
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 309
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Federal law — U.S. Code and appendices · legal_authorities
Page 369
TITLE 7—AGRICULTURE
§ 305
ing of such records and information with respect there-
to as may be necessary for the proper and efficient ad-
ministration of the State unemployment compensation
laws and of title V of the Servicemen’s Readjustment
Act of 1944, as amended (58 Stat. 295).’’
GRANTS NOT TO EXTEND TO ALASKA
Land grant under Alaska Statehood provisions as
being in lieu of grant of acreage under sections 301 to
305, 307, 308 of this title (declared not to extend to Alas-
ka), see section 6(l) of Pub. L. 85–508, set out as a note
preceding section 21 of Title 48, Territories and Insular
Possessions.
Executive Documents
ADMISSION OF ALASKA AS STATE
Admission of Alaska into the Union was accom-
plished Jan. 3, 1959, on issuance of Proc. No. 3269, Jan.
3, 1959, 24 F.R. 81, 73 Stat. c16, as required by sections
1 and 8(c) of Pub. L. 85–508, July 7, 1958, 72 Stat. 339, set
out as notes preceding section 21 of Title 48, Territories
and Insular Possessions.
§ 302. Method of apportionment and selection;
issuance of land scrip
The land aforesaid, after being surveyed, shall
be apportioned to the several States in sections
or subdivisions of sections, not less than one-
quarter of a section; and whenever there are
public lands in a State subject to sale at private
entry at $1.25 per acre, the quantity to which
said State shall be entitled shall be selected
from such lands within the limits of such State,
and the Secretary of the Interior is directed to
issue to each of the States in which there is not
the quantity of public lands subject to sale at
private entry at $1.25 per acre, to which said
State may be entitled under the provisions of
this subchapter, land scrip to the amount in
acres for the deficiency of its distributive share;
sa
Source: Supplied 2024 U.S. Code historical extraction · 7 U.S.C. § 304
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