§ 93. Payments to Cornell university on account of the college land scrip fund.-The acceptance by this state of the provisions of an act of the congress of the United States, approved July second, eighteen hundred and sixty-two, entitled "An act donating public lands to the several states and territories which may provide colleges for the benefit of agriculture and mechanic arts," and which acceptance is contained in chapter twenty of the laws of eighteen hundred and sixty-three, is continued in force, notwithstanding the repeal thereof by this chapter. The money raised under chapter seventy-eight of the laws of eighteen hundred and ninety-five, by the sale or conversion into cash of the securities in which were invested the proceeds of the sales of lands and land scrip, formerly constituting the college land scrip fund, together with the money paid into the state treasury from the sale of lands or land scrip belonging to such fund, is held by the state as a part of the general fund for the benefit and use of Cornell university. Five per centum of the amount of the proceeds so transferred to the general fund shall annually be paid to the Cornell university, pursuant to a certificate issued by the comptroller to such university, by virtue of chapter seventy-eight of the laws of eighteen hundred and ninety-five, which certificate is hereby ratified and confirmed. Certificates shall also be issued by the state to such university from time to time, as the proceeds of the sales of the lands and land scrip are paid into the treasury, for the payment annually of five per centum upon such proceeds from the date of their receipt upon the same conditions as the original certificate. The comptroller in his annual estimate of the appropriations required for the expenses of the government shall include the amount required to pay the interest on these certificates. [L. 1863, ch. 20; R. S., 8th. ed., p. 596, L. 1895, ch. 78, amending § 4, repealing § 7 of the latter act. By the amendatory act the comptroller was directed to convert into cash, before October 1, 1895, all the securities belonging to the college land scrip fund, and on that day to transfer it to the general fund, to be deemed, thereafter, a part of such fund. The comptroller was required to issue certificates binding the state to pay five per centum interest on the amount transferred to the general fund and paid into such fund from time to time as a result of the sale of lands and land scrip, to Cornell university, so long as it shall comply with the provisions of the act of congress donating the public lands to this State. The effect of this amendment is to do away with the college land scrip fund, and transfer all parts thereof to the general fund.] ARTICLE V. 1 Miscellaneous Funds. Section 100. The military record fund. 101. The mariners' fund. 102. Payments on account of chancery fund. 100. The military record fund.-All moneys contributed and paid over to the treasurer of the state by towns, cities and individuals for the erection of a hall of military record belong to the military record fund. Such fund shall be invested in the same manner as other state funds and a separate account thereof shall be kept by the state treasurer. The interest arising from the investment of such fund shall be used in the maintenance of such quarters in the state capitol as shall be set apart for the safe keeping of military records, books and property, and for the display of colors, standards, battle. flags and relics, which is known as the hall of military record. [L. 1865, ch. 744; R. S., 8th ed., p. 871. All these laws have been repealed and partly re-enacted in the Military Code, § 42. It seems proper, however, to designate the military record fund among the state funds in the State Finance Law.] § 101. The mariners' fund.-The loan of ten thousand dollars made by the comptroller to the trustees of the American Seamen's Friend Society in the city of New York, pursuant to chapter one hundred and seventy-three of the laws of eighteen hundred and forty, and continued by chapter thirty-seven of the laws of eighteen hundred and forty-five, shall constitute the mariners' fund. Such loan shall be secured by mortgage satisfactory to the comptroller and may be retained by such trustees, without payment of interest, as long as they shall faithfully use and apply the same to promote the benevolent objects of the sailors' home, erected for the boarding and accommodation of seamen in such city. The trustees of such institution may mortgage the sailors' home for a term not less than seven years to secure the debts due from, or money loaned to, them for the lawful purpose of such institution, to an amount not exceeding fifteen thousand dollars. Such mortgage shall be a lien on such home prior to the lien held by the state to secure the loan mentioned in this section, provided all other liens and incumbrances on such home be discharged and canceled of record. No sale of such sailors' home upon the foreclosure of any mortgage prior to the lien of the state shall be had without, at least, six weeks' previous notice of such sale served personally upon the comptroller. [L. 1845, ch. 37; R. S., 8th ed., p. 605, without change in substance.] § 102. Payments on account of chancery fund.-All moneys, securities and real estate formerly under the control and in possession of the court of chancery, and transferred to the comptroller by the clerk of the court of appeals, pursuant to chapter one hundred and thirty-five of the laws of eighteen hundred and ninety-four, is credited to the general fund and is a part thereof. A person claiming any portion of such property, shall apply to a court of competent jurisdiction after due notice to the comptroller of the time and place of making such application, for an order directing the payment of such portion to him. Upon such order and the warrant of the comptroller the treasurer shall pay such portion to him. [L. 1894, ch. 135; L. 1894, ch. 678, and L. 1895, ch. 816. The first of these acts transferred the chancery funds to the comptroller, the second act provided that the income of such fund should be paid for the support of certain law libraries, the last act transferred this fund as a whole to the general fund and made a charge thereupon all claims against the chancery fund which might be proved. This last act practically supersedes L. 1894, ch. 678, providing for the disposition of the income of this fund.] ARTICLE VI. § 110. Laws repealed. Of the laws enumerated in the schedule hereto annexed, that portion specified in the last column is repealed. § 111. When to take effect.-This chapter shall take effect on October first, eighteen hundred and ninety-six. SCHEDULE OF LAWS REPEALED. Revised Statutes.... Part I, ch. VIII, title 3, arti Revised Statutes.... Part I, ch. VIII, title 4... All. ..... |
