Publisher's Synopsis
Excerpt from Special Report Concerning Common School Funds
Briefly, I desire to direct your attention to the statute governing -the school funds of the State and the duty you owe to your county in the safe and businesslike management of this fund. The statute provides that every board of commissioners shall ap point men for appraisers who have had experience in real estate matters and know the value of real estate in their respective districts. The sum loaned shall not exceed one-half of the appraised value of the premises to be mortgaged. Perishable improvements may be accepted as a part of the security. If perishable-improvements are accepted, the borrower is required to procure tornado and fire insurance, from a company duly authorized to transact business in this State, in a sum equal to sixty - six and two-thirds per cent. Of the appraised value of su'ch improvements (sections 6232-6248 Burns, The total amount of school funds charged to the several counties of the State and under the direct control of county auditors is nearly all of which is kept loaned at all times. Would a private corporation handle this enormous sum carelessly? Certainly not. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
