Title. Condition, 1903 CHAPTER XIX IDAHO PUBLIC SCHOOL FUND * The permanent common school fund of Idaho, officially known as the Public School Fund,113 consisted in 1903 of an invested principal of $1,241,968,114 and of unsold school land worth about $10,000,000, estimated as follows: 57,584 acres of leased lands estimated at $575,840,114 and 942,416 acres of unleased lands estimated at $9,424,160,114 making a total estimated prospective fund of over eleven million dollars ($11,241,968). It is estimated that the state up to the present time has borrowed about $500,000 from the principal of the Public School Fund.115 This is secured by four per cent state bonds and six per cent state warrants, the interest on which is paid chiefly out of state taxes.115 These bonds and warrants are dependent for their credit and final payment upon the will of the state. They are not negotiable.115 The principal is invested chiefly in state bonds and warrants, school district, county and municipal bonds and first mortgage farm loans at one-third their appraised value.115a In 1902, $67,615, or approximately ten and two-tenths per cent (.102) 116 of Idaho's total public school revenue was derived from the income of the Public School Fund.117 The title used in the treasurer's report is General School Fund. The management of this fund is entirely with the State Land Board. It consists of principal derived from the school lands of the state, the interest of which goes to the common school fund. Treasurer's Report, 1901, p. 10. 113 Constitution of Idaho, 1890, Art. IX, Sec. 4, Report U. S. Commissioner of Education, 1892-93, p. 1406. 114 Report U. S. Commissioner of Education, 1904, I, p. lxxxii. 115 Answers given by Idaho State Treasurer to questions, Nov. 20, 1906. 115a Elliott, E. C., St. Sch. Sys. Leg., p. 42, No. 195, and note 120. 116 Report U. S. Commissioner of Education, 1902, I, p. lxxxiv. 117 Ibid., therefore often rejected, and oftentimes diverted from its legitimate use. All permanent common school funds were lost during the Civil War, 1860-65.111 111 O. A. Thaxton's unpublished Report on School Funds in Georgia, given in Seminary, History of Education, Columbia University, 1903-04; U. S. Bureau of Education, Circular of Information, 1888, No. 5, II, p. 26; Report U. S. Commissioner of Education, 1875, p. 72. The per as the ProL Title. Condition, lows: 942,416 acesser ing a total estimate E ($11,241,968. I = time has borrowed I School Fund six per cent state a out of state tares for their credit and are not negotiable. bonds and warrants, and first mortgage farm. In 1902, $67,615, (.102) 116 of Idaho's total monar the income of the Public *The title used in the treasure ment of this fund is entirely wh rived from the school lands of sewa school fund. Treasurer's Report.. GL 113 Constitution of Idaho, 1890 Education, 1892-93, p. 1406. 114 Report U. S. Commissioner of Educat Answers given by Idaho State Treasar1154 Elliott, E. C., St. Sch. Sys. Les Report C. S. Commissioner of Education 11 Ibid., p. hai. 251 253 that "the ine schools of the ing in and respect d in the laws, but struction. It was Upon her admission into the Union in 1890, Idaho received from the United States, sections numbered sixteen and thirty-six in each township, previously reserved for the support of Origin common schools by Act of Congress, March 3, 1863.10 The total area of the sixteenth and thirty-sixth section lands amounted to 3,063,271 acres. In 1890 the state, by her first constitution, provided that these lands be devoted to the establishment of a permanent school common fund, the interest only of which should be expended in the maintenance of the schools of the state.1 Sources of 118 Five sources are provided by law for increasing the principal of the Public School Fund. They are the same as those provided for originally by the constitution as follows: 119 (1) the proceeds of all school lands granted by the general government; (2) lands acquired by gift, or grant from any person or corporation under any law or grant; (3) all other grants of land or money made to the state for general educational purposes or where no other special purpose is indicated in such grant; (4) all estates escheating to the state; (5) all unclaimed shares and dividends of any corporation incorporated under the laws of the state.1 Present 113 Management Apportionment. The State Land Board is the custodian of the Public School Fund. The State Superintendent of Public Instruction apportions the revenue semiannually among the counties on the basis of their school population.120 No requisitions laid upon districts nor any conditions are stated in the laws relating to schools for sharing in the Public School Fund revenue. The County Superintendent is fined if he fails to make the reports to the State Superintendent of Public Instruction as required by law.121 The law is almost as silent regarding the objects to which the revenue may be applied. It 118 Constitution of Idaho, 1890, Art. IX, Sec. 3. 119 General School Laws of the State of Idaho, 1897-98, Sec. 72. 120 Ibid., Art. VII, Sec. 73. 121 Ibid., Art. III, Sec. 34. names none, but simply provides in general terms that "the interest shall be expended in the maintenance of the schools of the state." " 122, 122a 122 Ibid., Art. VII, Sec. 73. 122a In some states provisions respecting the conditions for sharing in and respecting the lawful uses of the public school moneys are not contained in the laws, but in the "Regulations" of the State Superintendent of Public Instruction. It was impossible to learn whether any such exist in Idaho. |