257B.7 - SALE ON CREDIT -- TAXATION -- WASTE.
257B.7 SALE ON CREDIT -- TAXATION -- WASTE.
When lands are sold upon a partial credit, the contract therefor
shall be at once reduced to writing, signed by the proper parties,
recorded in the county where the land is situated, and immediately
thereafter filed in the office of the county auditor. Any purchaser
or the purchaser's assigns may at any time pay the full amount for
lands with accrued interest, and receive from the county auditor a
certificate of purchase, which shall be at once transmitted to the
secretary of state and will entitle the holder to a patent for the
lands, to be issued by the secretary of state and the governor. All
school lands sold in pursuance of law shall be subject to taxation
from and after the execution and delivery of a contract of purchase.
All sales made, where the full price is not paid, shall be subject to
the law relative to the prevention or punishment of waste, and in all
such cases the township trustees in each township are charged with
the duty of preventing the commission of waste upon any school lands
lying in their township, and, if attempted, they shall apply by
petition for an injunction to stay the same, and if granted the writ
shall issue without bond, and the court issuing it may make such
order in the premises as shall be equitable and best calculated to
prevent threatened injury, and may adjudge damages for any injury
done, the costs to abide the event of the action, and the damages
adjudged shall be paid to the county treasurer and the county
treasurer shall forthwith pay the same to the state treasurer which
shall become a part of the permanent school fund. Section History: Early Form
[R60, § 1972, 1973, 1976--1978; C73, § 1851, 1852, 1856--1858;
C97, § 2843; C24, 27, 31, 35, 39, § 4475; C46, 50, 54, 58, 62,
66, 71, 73, 75, 77, 79, 81, § 302.7] Section History: Recent Form
C93, § 257B.7