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SEC. 517. Collection of Moneys. [8949.] It shall be the duty of said board of commissioners, from time to time, as soon as may be practicable, to collect all moneys due and owing to the state permanent school, State Agricultural, State Nornal and State University funds, and make investments of the same as herein required. If any such moneys shall remain unpaid for thirty days after the same become due and payable, the commissioners shall notify the attorney-general of that fact, and it shall then be his duty to then proceed to collect the same by civil action, to be brought and prosecuted in the name of the state. (Laws 1905, ch. 472, sec. 8.)

SEC. 518. Must Sell Bonds to Board. [8950.] That the several municipal officers who have charge of the sale of any bonds hereafter to be issued, which the board of commissioners of the state permanent school fund are authorized to purchase under the law, are hereby directed to sell such bonds to said board of commissioners of the state permanent school fund, if it will pay par for the same; and it shall be unlawful for any such municipal boards, members thereof or other municipal officers to sell any such bonds without having first offered such bonds to said board of commissioners of the state permanent school fund; and every municipal board or member thereof, or other municipal officer, who shall sell any such bonds to any other person at any price, without having first. given the board of commissioners of the state permanent school fund an opportunity to purchase same, as hereinbefore provided, and every other officer violating the provisions of this act, shall be guilty of a misdemeanor, and upon conviction thereof shall be punished by a fine not exceeding $500, or by imprisonment in the county jail not exceeding six months, and shall forfeit his office. (Laws 1905, ch. 472, sec. 9.)

SEC. 519. May Purchase Below Par. [8951.] Said Schoolfund Commissioners may in their discretion agree with the parties offering bonds to take such bonds at par at a lower rate of interest than the interest stipulated in the bonds and coupons thereto attached. In case any such bonds so purchased by said board of commissioners provide for a higher rate of interest than the rate of interest at which they are purchased by said board, the rate at which they are purchased shall be distinctly noted upon such bonds and the coupons. thereto attached, and the amount of such coupons shall be reduced accordingly, and the same notation shall be made on the record of such bonds kept in the office of such board. (Laws 1905, ch. 472, sec. 10.)

SEC. 520. Office of Loan Commissioner Abolished. [8952.] The loan commissioner for the board of regents of the State Agricultural College shall, immediately upon the taking effect of this act, deliver to the state treasurer all moneys, evidences of indebtedness, securities, books and records belonging or

appertaining to the State Agricultural College fund, and shall take the receipt of the treasurer therefor. All moneys belonging to said funds and so delivered to the state treasurer shall become subject to the provisions of this act. It shall be the duty of the said board of regents and the state accountant, immediately upon the taking effect of this act, to make final settlement with the loan commissioner, to close the accounts thereof with said loan commissioner, and the office of said loan commissioner is hereby abolished. (Laws 1905, ch. 472, sec. 11.)

SEC. 521. Compensation. [7697.] Said board of commissioners shall receive such pay for their services as may be prescribed by law. (Laws 1876, ch. 122, art. 15, sec. 6.)

SEC. 522. Unclaimed Estates. [7699.] In all cases where persons die without heirs, and intestate, it shall be lawful for the superintendent of public instruction of the county where any land lies, belonging to the estate of such person dying without heir and will, after a lapse of three years from the date of letters of administration upon such estate, to file a petition in the probate court of the county granting such letters, setting forth in said petition (1) that such deceased person died without heirs, and intestate; (2) that three years have elapsed since the date of letters of administration; (3) a description of the real estate; (4) that no debts remain unpaid of this estate not barred by the statute of limitation. Such petition shall be verified by the affidavit of the county superintendent of public instruction, or by some person who has knowledge of the fact. (Laws 1876, ch. 122, art. 15, sec. 8.)

SEC. 523. Sale of Real Estate. [7700.] It shall be the duty of the probate court, on the filing of the petition mentioned in the preceding section, and being satisfied that the facts stated in said petition are true, to issue an order to the administrator to sell the real estate described in such petition, in the same manner as real estate is sold by administrators for the payment of debts due from deceased persons; and the same proceedings shall be had in confirming the sale and the execution of the deed by the administrator as are provided by law for the sale of real estate for the payment of the debts of any deceased person. (Laws 1876, ch. 122, art. 15, sec. 9.)

SEC. 524. Proceeds of Sale. [7701.] It shall be the duty of the administrator, after the payment of the costs of said petition and making said sale and six per cent commission to such administrator, to pay the county treasurer of the county where the land is situated the remainder of the purchasemoney for the benefit of the common schools of the state, and shall take duplicate receipts therefor; and it shall be his duty to file one of such duplicates with the probate court of the proper county. If, at any time within twenty-one years after

the date of payment of said money to the county treasurer, any person shall appear and claim said money as the rightful heir to said estate, and shall prove heirship satisfactorily to the probate court, the judge of said court shall so certify, and the state treasurer shall pay over to such claimant the sum so received from the county treasurer from such estate. (Laws 1876, ch. 122, art. 15, sec. 10.)

SEC. 525. Consolidation of Bonds. [7702.] It is hereby made the duty of the School-fund Commissioners to consolidate all state bonds now belonging to or hereafter coming into póssession of the permanent school fund, in the following manner, to wit: All bonds falling due on the same date and bearing the same rate of interest shall be consolidated into one bond, of equal amount to the bonds so consolidated; and coupons of interest shall be attached thereto, of equal amount to the consolidated coupons, and payable in the same manner as the coupons of the bonds so consolidated; such consolidated bonds shall be made out by the auditor of state, signed by the governor, and attested by the secretary of state, and shall be made payable to the permanent school fund of the state of Kansas, and shall have imprinted on their face the words, "Not transferable." All bonds presented by the School-fund Commissioners shall, in their presence, be canceled and destroyed by the auditor of state, after a consolidated bond shall have been issued for the same. (Laws 1876, ch. 122, art. 15, sec. 11.)

SEC. 526. Registry of Consolidated Bonds. [7703.] All consolidated bonds shall be registered by the auditor as other state bonds now are registered. (Laws 1876, ch. 122, art. 15, sec. 12.)

SEC. 527. Registration. [6392.] Immediately after the passage of this act, it shall be the duty of the auditor of state to prepare a register of all bonds belonging to the permanent school fund. (Laws 1877, ch. 172, sec. 1.)

SEC. 528. Bonds to be Registered. [7710.] That it shall hereafter be the duty of the commissioners of the permanent school fund to present to the auditor of state all bonds which may hereafter be purchased by them prior to the deposit of the same with the state treasurer, and it shall be the duty of the auditor to register all bonds so presented. (Laws 1877, ch. 172, sec. 2.)

SEC. 529. Treasurer's Statement. [7711.] That it shall be the duty of the state treasurer, immediately after collecting any interest on such bonds or the principal of the same, to file with the auditor a detailed statement or statements of the amount or amounts so collected, stating the name of the county, the number of the district, the number of the coupons or bonds paid by such district, and the amount paid;

and the said treasurer shall cancel on the register in his office all coupons and bonds so paid. (Laws 1877, ch. 172, sec. 4.)

SEC. 530. Cancelation of Bonds and Coupons. [7712.] That immediately after the filing of such statement or statements by the treasurer, the auditor shall cancel such coupons or bonds as are designated in said statement or statements upon the register in his office, and charge the treasurer with the amounts. (Laws 1877, ch. 172, sec. 5.)

SEC. 531. Bonds to be Compared. [7713.] That it shall be the duty of the auditor of state, on the first Monday in August of each year, to compare the register kept by him with the bonds in the treasurer's office, and shall at the time of comparing such register require the treasurer to produce all coupons and bonds remaining unpaid, which shall be compared with the register. (Laws 1877, ch. 172, sec. 6.)

SEC. 532. Penalty. [7714.] That any state treasurer who shall fail or refuse to comply with the provisions of section 3 and section 5 of this act186 shall be deemed guilty of having converted the same to his own use, and shall upon conviction be subject to all the penalties provided for in section 56 of chapter 102, General Statutes of the state of Kansas. (Laws 1877, ch. 172, sec. 7.)

SEC. 533. Exchange of Bonds. [7715.] The board of commissioners for the management of the state permanent school fund shall have the power to exchange any school-district or board-of-education bonds belonging to the permanent school funds now in the state treasury for other bonds of the same district or board of education bearing a lower rate of interest and running a longer time than the bonds exchanged, upon the application of the proper officers of such school district or board of education; provided, that they shall not receive any funding bonds running a less time than five years; and provided further, that the rate of interest on bonds so accepted by said commissioner shall not be less than four per cent. (Laws 1907, ch. 377, sec. 1.)

SEC. 534. Funding Bonds to be Stamped. [7719.] All bonds accepted as funding bonds by the board of commissioners shall be stamped by the auditor and deposited with the state treasurer, and the auditor shall charge the treasurer with the amount in the same manner as though said bonds had been purchased for cash. (Laws 1879, ch. 160, sec. 5.)

SEC. 535. Record of Proceedings. [7717.] The said board. of commissioners, after having examined and accepted any funding bonds as contemplated in section 1 of this act, shall make a certificate in duplicate, directed to the state treasurer,

186. Section 530 of this book.

or

stating that they have examined and accepted the funding bonds of school district No. -, of the county of board of education of the city of dollars, in lieu of bonds numbered

for the sum of

for like amount

issued by said district or board of education, now in the state treasury, and belonging to the fund, and the treasurer of state is authorized to cancel and return the bonds so funded, together with the coupons attached thereto, and not matured, to the proper officer of the county, city, or school district, which said certificate shall be signed by a majority of the said commissioners, one of which shall be filed with the auditor of state and the other delivered to the state treasurer. 1879, ch. 160, sec. 3.)

(Laws

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