The Buchanan County guardian. (Independence, Buchanan County, Iowa) 1858-1864, 1862-02-11

chase money has been paid, and when
paid on cash sale and how the same has
been invested, and on what security
how much is due on each sale by whom
and how secured, and when payable
what lands remain unsold where situate;
and It's appraised value if appraised,or its
estimated value if not appraised. His
books shall also show how the permanent
fund of the University has been invested;
the amount of each kind of stocks, if any,
with the date thereof, and when due and
the interest thereon, and when and where
payable; the amount of each loan, if any,
and when made and payable ; to whom,
and how secured and at what interest,
and when and where payable. When
any further sales of land, or further in
vestments shall be made, the Secretary
shall enter the same upon his books as
above set forth. The Secretary shall
countersign and register all orders for
money on the Treasurer, and the Treas
urer shall not pay any order on him for
money, unless the same be countersigned
by the Secretary. On the first day of
February of each year, the Treasurer
shall report to the Secretary all defaults
Of payments of either principal or inter
est, with the names and address of the
persons so in default and thereupon,
'he Secretary shall Immediately notify,
in writing, each person so in default,
urging payment.
SECTION 10. The Board Of Trustees
are authorized to expend such portion of
the income of the University Fund, as it
may deem expedient, in the purchase of
Apparatus, Library and Cabinets of Nat
ural History. in providing suitable means
to keep and preserve the same; and in
the procurement of all means and facili
tiles for giving instruction.
SECTION Ia. The Certificate or Diplo-
ma given to graduates of the Normal
department of the State University sha
be sufficient evidence of qualification, TO
enable them TO teach in any of the Public
Schools OF the State, in which their SER
vices may desire, without procuring a
Certificate from any County Supernlen.
dent: Provided, he be of good moral
character.
SECTION Is. The first meeting of the
Board of Trustees under this Act, shall
be at such time in the year 1862, as the
Secretary of this Board shall appoint, he
giving due notice in writing to each
Trustee. The Annual meeting of the
Board shall be held at such time AS may
be determined by the Trustees at any
regular or special meeting of the Board.
SECTION Is. The President Of the
Board of Education may call special
meetings when he deems it expedient-
The Board of Trustees shall have power
to fill vacancies occurring therein, except
when The Board of Education is in session;
and the person so appointed shall hold
his Office until the next session Of the
Board of Education.
SECTION 7. The Treasurer Of the I'M
iversity shall have set of books, in
which he shall keep an accurate account
of all transaction, relative to the sale and
disposition of the University lands, and
the management Of the fund arising
therefrom which books shall exhibit
what parts and portions land have been
sold, at what prices, and to whom, and
how the proceeds have been invested, and
on what securities and what land still
remains unsold, where situated, and OF
what value respectively.
SECTION Is. No sales of lands belong
ing to the University shall hereafter take
place, unless the same shall be decided
upon at regular meeting of the Board Of
Trustees, or at one called tor that partic-
ular purpose, and then only in the man
ner, upon the notice, and on the terms
which the Board shall perscribe and no
member of the Board shall be either di-
rectly or indirectly interested in any
purchase Of such lands upon sale and it
shall be lawful for the Board to invest
any surplus income, which is not imme
diatel y required for the purposes OF in
sruc ton, in the United States, or other
interest paying State Stocks, and to hold
the same for the University, either as a
perl etual fund, or as an income 10 detray
current expenses, as said Board of Trus
tees may deem expedient
SECTION 10. The Board Of Trustees
shall make report TO The General AS
sembly, and to the Board of Education,
at each oftheir respective sessions, which
shall exhibit the state, condition and pro-
gress of the University in its several de-
parlments the different courses of study
pursued therein the branches taught
the means and methods Of instruction
adopted the number of Professors, with
the compensation OF each ; and the num-
Der of students, with their names, ages,
studies, sex and residence the situation
and condition of the University Fund );
the income derived therefrom the
amount of expenditures and such other
matters as said Board of Trustees may
deem proper TO communicate.
SECTION go. All Acts, and parts Of
Acts, Inconsistent with this Act, are here
by repealed.
Dec 18th, 1861
NICHOLAS j. RUSCH.
D.. f,l,