7 U.S.C. § 302 — Method of apportionment and selection;

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; said scrip to be sold by said States and the pro- ceeds 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 unappro- priated 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. (July 2, 1862, ch. 130, § 2, 12 Stat. 503.) § 303. Management expenses paid by State All the expenses of management, superintend- ence, and taxes from date of selection of said lands, previous to their sales, and all expenses incurred in the management and disbursement of the moneys which may be received therefrom, shall be paid by the States to which they may belong, out of the treasury of said States, so that the entire proceeds of the sale of said lands shall be applied without any diminution what- ever to the purposes in sections 304, 305, 307 and 308 of this title mentioned. (July 2, 1862, ch. 130, § 3, 12 Stat. 504.) § 304. Investment of proceeds of sale of land or scrip All moneys derived from the sale of lands as provided in section 302 of this title 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 legisla- tures 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 there- of 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), and the interest of which shall be inviolably ap- propriated, by each State which may take and claim the benefit of this subchapter, to the en- dowment, 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 agri- culture and the mechanic arts, in such manner as the legislatures of the States may respec- tively prescribe, in order to promote the liberal and practical education of the industrial classes in the several pursuits and professions in life. (July 2, 1862, ch. 130, § 4, 12 Stat. 504; Mar. 3, 1883, ch. 102, 22 Stat. 484; Apr. 13, 1926, ch. 130, 44 Stat. 247.) Editorial Notes AMENDMENTS 1926—Act Apr. 13, 1926, substituted ‘‘bonds’’ for ‘‘stocks’’ and ‘‘a fair and reasonable rate of return, to be fixed by the State Legislatures’’ for ‘‘not less than 5 per centum upon the amount so invested’’, before pro- viso. 1883—Act Mar. 3, 1883, inserted ‘‘or the same may be invested by the States having no State stocks, in any other manner after the legislatures of such States shall have assented thereto, and engaged that such funds shall’’ after ‘‘other safe stocks’’ and substituted ‘‘yield’’ for ‘‘yielding’’, ‘‘principal’’ for ‘‘capital’’ and ‘‘unimpaired’’ for ‘‘undiminished’’. § 305. Conditions of grant The grant of land and land scrip hereby au- thorized shall be made on the following condi- tions, to which, as well as to the provisions con- tained in said sections, the previous assent of the several States shall be signified by legisla- tive acts: First. If any portion of the fund invested, as provided by section 304 of this title, or any por- tion of the interest thereon, shall, by any action or contingency, be diminished or lost, it shall be replaced by the State to which it belongs, so that the capital of the fund shall remain forever undiminished; and the annual interest shall be regularly applied without diminution to the pur- poses mentioned in section 304 of this title, ex- cept that a sum, not exceeding 10 per centum upon the amount received by any State under the provisions of this subchapter, may be ex-