Art. 5421f. EXTENSION OF PAYMENT OF UNPAID BALANCES OF PRINCIPAL ON PURCHASES OF SCHOOL LANDS    

The time for the payment of all notes or obligations executed prior to November 1, 1901, by purchasers of school land for the unpaid balances of principal due the State thereon is hereby extended for a period of ten (10) years from and after the passage of this Act, subject to all the pains and penalties provided in the Acts under which the purchases were made, provided that the extension of time herein granted shall apply only to installments of principal, and shall not apply to any installment of interest; and provided further that the unpaid balances of principal upon which an extension of time for payment is hereby granted shall bear interest during said period of extension at the rate provided for in the contract of purchase hereby extended, and past due installments of interest shall bear interest at the rate provided for in Section 7, Chapter 271, General Laws, Regular Session, Forty-second Legislature.