Supplement to Public Land Laws 11 



SEC. 124-c. CONTRACT IN LIEU OF DEED. 



In lieu of a deed as provided for in section 2 hereof, a con- 

 tract may issue to the applicant, by the terms of which one- 

 fifth of the purchase price may be paid to the Commissioner, 

 and the remainder in four equal annual installments, with in- 

 terest on the deferred payments at the rate of six per cent, per 

 annum, and if such applicant shall comply with the terms of 

 said contract and make the payments herein provided for, a 

 deed as herein provided for shall issue to him from the state: 

 Provided, That said contract shall contain the covenant or con- 

 dition of defeasance as is provided in the case of deeds issued 

 under the provisions of this act : Provided further, That such 

 contract shall be subject to cancellation by the Commissioner 

 of Public Lands for failure to comply with its provisions : And 

 provided further, That whenever an installment shall mature, 

 the applicant may, if he, they or it so elect, pay more than 

 one installment. Laws '15, p. 24, Ch. 10, Sec. 3.) 



SEC. 124-d. OYSTER RESERVE FUND. 



There is hereby created a fund to be known as the "state 

 oyster reserve fund," and all moneys received from the disposal 

 of oysters on the reserves, or any of the products thereof, or 

 for licenses to operate thereon, or for the sale of the rights of 

 the state in the lands herein referred to, shall be paid into said 

 fund, and all expenses incurred on account of said reserves shall 

 be paid from said fund by warrants drawn thereon after appro- 

 piration by the legislature of the state. (Laws '15, p. 24, Ch. 

 10, Sec. 4.) 



SEC. 128. APPLICATIONS TO LEASE. 



All school and granted lands of the State of Washington 

 may be leased for a term of five years or less to the highest 

 bidder at public auction in the following manner : Any person 

 or persons desiring to lease any of such lands shall make ap- 

 plication in writing to the Commissioner of Public Lands of this 

 state ; each application shall be accompanied with a deposit of 

 ten dollars, such deposit to be in the form of a draft on some 



