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AN ACT SUPPLEMENTAL TO AN ACT ENTITLED “AN ACT TO PROVIDE FOR THE
ORGANIZATION, ENDOWMENT AND MAINTENANCE OF THE ILLINOIS INDUSTRIAL UNIVERSITY."
March 8th, 1867. SECTION 1. Be it enacted by the people of the State of Nlinois, represented in the General Assembly, That if the legal authorities of the county of Champaiga shall not, by or before the first day of June, 1867, convey or cause to be conveyed, to the board of trustees of the Illinois Industrial University, by a good and unincumbered title, in fee simple, all the real estate mentioned and contained in the propositions of said county, and which real estate is described and set out in the act to which this act is supplemental, amounting to nine hundred and eighty acres of land, and if said county shall not also pay over and deliver to said trustees by said day, all the bonds and other property offered by said county, mentioned in said act, then said board of trustees or a majority of them shall proceed without delay to permanently locate and establish said Industrial University in McLean, Logan, or Morgan county; such county so selected shall in like manner be required in all things to fulfill and comply with the conditions and provisions of the offer heretofore made by such county, as an inducement for the location of said University in said county.
AN ACT ACCEPTING THE PROVISIONS OF AN ACT OF CONGRESS APPROFED JULY 2, 1862, AND THE ACT APPROVED APRIL 14, 1864, EXTENDING THE SAME.
(Approved March 6, 1865.) SECTION 1. That the State of Indiana accepts and claims the benefits of the provision of said Acts of Congress, and assents to all the conditions and provisions in said acts contained.
§ 2. That the Governor of the State, for the time being, and Alfred Pollard, of Gibson, Smith Vawter, of Jennings, Henry Taylor of Tippecanoe, and Lewis Burke of Wayne, and their successors, are created a body corporate under the name of The Trustees of the Indiana Agricultural College.
§ 3. Said Henry Taylor and Lewis Burke shall hold said office for two years, and said Alfred Pollard and Smith Vawter shall hold the same for four years; provided they so long behave well, and at the expiration of each period of two years from the passage of this act the Governor and the remaining Trustees shall choose by ballot two citizens of this State to fill the vacancy caused by the expiration of the terms of office of such preceding Trustees, who shall hold their office for the term of four years; provided they so long behave well. And whenever any other vacancy shall occur among said Trustees, they shall, in like manner, choose some citizen of this State to fill the same, who shall hold his office during the residue of the unexpired term of his predecessor, provided he so long behave well.
$ 4. The Governor of this State, for the time being, shall be, ex officio, Pres. ident of said Trustees; and said Trustees shall, upon the first Tuesday of May, A. D. 1865, and every two years thereafter and whenever a vacancy occurs, elect, by ballot, a Secretary and Treasurer, whose compensation shall be fixed by said Trustees. The said Treasurer shall give bonds to the State of Indiana, in the sum of not less than two hundred thousand dollars, for the faithful execution of his trust, with sufficient sureties, to the approbation of said Trustees.
85. That said Trustees shall, by the and of their Treasurer, claim and receive from the Secretary of the Interior the land scrip to which this State is entitled by the provisions of said Act of Congress; and under their direction, the said Treasurer shall sell the same, in such manner and at such times as shall be most advantageous to the State, and shall invest the proceeds thereof, and any interest that may accrue thereon, in stocks of the United States or of this State, yielding not less than five per centum per annum upon the par value of the Stocks; and that the said principal and interest shall so continue to be so invested, until further provision shall be made by the General Assembly of this State for fulfilling the requirements of said Act of Congress.
$ 6. That there is appropriated, to be paid annually to said Trustees, out of the State Treasury, a sum of money sufficient to defray the actual expenses
incurred in obtaining and selling said land scrip and in investing and managing the proceeds thereof, the items of which shall be certified to by said Trustees; and the Auditor of State shall draw his warrant on the Treasurer of the State, and the Treasurer shall pay the same. And the said Trustees shall receive three dollars per day for their services while so engaged. ,
37. The Governor of this State shall report annually to Congress, all sal made of said land scrip, until the whole shall be disposed of, the amount received for the same, and what appropriation has been made of the proceeds.
8. That an emergency exists for this act to take immediate effect, and it shall take effect from and after its passage.
AN ACT RELATING TO BOARD OF TRUSTEES OF STATE AGRICULTURAL COLLEGE
(Approved March 24, 1866.) Section 1. Be it enacted by the General Assembly of the State of Iowa, That the State Agricultural College and Farm shall be under the management of a board of trustees, composed of one member elected from each judicial district. The governor, and the president of the State Agricultural College and Farm, shall be, ex officio, members of the board.
8 2. The present session of the general assembly shall elect in joint convention all of said board of trustees, six of whom shall serve for the term of two years, and the other six for the term of four years, from the first day of May, 1866; and the general assembly at each biennial session thereafter, shall elect one-half of said board of trustees, who shall serve from the first of May after their election. The board of trustees shall at their first meeting under this act, which shall be on the first Thursday of May for 1866, at the capitol of the State, determine by lot, their several terms of service, and every succeeding year, they shall hold their annual meetings on the second Monday of January, at the capitol of the State. Any vacancies in the board of trustees, caused by death, removal from the district or the State, resignation, or failing to qualify within sixty days after their election, may be filled by a vote of a majority of the members of said board.
§ 3. The board of trustees shall elect a treasurer at their annual meeting in each year, who shall receive and keep all the moneys arising from the sale of the products of the farm, and from any other source, and give bonds in such sum as the board of trustees may require. He shall pay over all moneys, upon the warrant of the president, and countersigned by the secretary. He shall render, annually, in the month of January, to the board of trustees, and as often as may be required by said board, a full and true statement of all moneys received and disbursed by him.
§ 4. Sections 1715, 1716, 1739, of chapter 67 of Revision of 1860, and section 6 of chapter 121 of the acts of the tenth general assembly, (1864,) and all acts and parts of acts in conflict with the provisions of this act, are hereby repealed.
AN ACT AUTHORIZING AND REGULATING THE SALE AND LEASE OF LANDS BELONG-
(Approved March 29, 1866.)
Territories which may provide. Colleges for the benefit of Agriculture and Mechanic Arts," approved July 2, 1862, which grant was accepted by the general assembly of the State of Iowa, Sept. 11, 1862, upon the following conditions, regulations, and restrictions, to wit. None of said lands shall be sold for a less sum than fifty per cent. above the price that each piece of said lands respectively was appraised at by the trustees of the agricultural college and farm in the year 1865, but may be sold by the purchaser paying one fourth at the time of sale, and the balance at any time within ten years from the day of sale, the purchaser to pay eight per cent, interest per annum, semi-annually in advance on the deferred payment. And a failure to pay the interest, or the prin. cipal within sixty days after it becomes due, the purchaser shall forfeit al claim to said land, as well as that portion of principal and interest he had paid, to the agricultural college.
$ 2. Any of said lands may be leased in amounts not to exceed 160 acres, to any one man, for any term not exceeding ten years, the lessee to pay eight per cent. per annum in advance upon the price of said land, which is hereby declared to be fifty per cent. additional to the price at which each piece of said lands respectively, were appraised by the trustees of the lowa State Agricultural College and Farm, in the year 1865, and the said lessee shall have the privilege of purchasing said land at or before the expiration of the lease, at the above described advance price. The lessee failing to pay the interest on said lease within sixty days from the time the same becomes due, shall forfeit his lease, together with the amount of the interest he has paid, and the improvements thereon.
3. "The money arising from the sale of said lands, shall be paid into the State treasury, which shall be invested by the State treasurer, in bonds of the State of Iowa, or United States Registered bonds, as directed by the act of congress granting said lands. And the moneys arising from the interest on the leases of said lands, shall he paid over to the trustees of the Iowa State Agricultural College and Farm, to be loaned by said board of trustees, on good and sufficient security, until needed to pay the expenses of the college.
$ 4. The trustees of the Iowa State Agricultural College and Farm, are bereby endowed with all necessary authority to appoint agents, or do any other acts to carry out the provisions of this act, as well as the provision of chapter 117 of the laws of the tenth general assembly.
As ACT TO PROVIDE FOR THE ESTABLISHMENT OF A STATE AGRICULTURAL Col
LEGE AND Farm, WITH A BOARD OF TRUSTEES, WHICH SHALL BE CONNECTED WITH THE ENTIRE AGRICULTURAL INTERESTS OF THE STATE OF Iowa.
(Passed March 22, 1858.) SECTION 1714. (1.) Be it enacted by the General Assembly of the State of lowa, That there is hereby established a State Agricultural College and Model Farm, to be connected with the entire agricultural interests of the State.
$ 1715. (2.) Said college and farm shall be under the management of a board of eleven trustees, and the governor, the president of the State agricultural society, and the president of the State agricultural college, shall be, ex officio, members of said board.