Tama County Republican. (Toledo, Tama County, Iowa) 1867-1872, 1870-05-12

Sec. Is. No sales Of lands belonging 10
the University shall hereafter take place
unless the same shall be decided upon at Q
regular meeting Of the beard Of Regents, or
q one called for that particular purpose,
and then only in the manner upon the mo-
tice and on the terms which the board shsll
prescribe; and % member Of The board shall
bs either directly or Indirectly interested in
any purchase Of such lands upon sale, nor
shall the secretary Or treasurer be 80 inter>
e,ted. 1t shall be lawful fos the board TO
invest any portion Of the permanent endow-
ment fund not otherwise invested ~ we'll
- any surplus income which 10 not imme-
diately required for other purposes in Unit
ed States stocks or stocks Of the State Of
Iowa, or BY note and mortgage on unincum-
bersd real estate the value Of which after
dsducting the value Of eli perishable i'm
provements thereon, shall bs double the
amount Of the sum loaned, and hold the
same fox the University, either - perma.
nent fund or ~ an income to defray current
expenses ~ said board Of Regents may deem
sxpedient It shall Aot be lawful for the
Board to use any portion Of the permanent
fund for the ordinary expenses Of the ;nsti.
tuition.
Sec. 16. The president Of the University
shall make report on the fifteenth day OF
September, preceding the meeting Of the
General Assembly, To the board Of Regents
which shall exhibit the condition and prog.
ress Of the institution in its several depa rt~
ments, the different courses Of study pur.
sued therein, the bran ches taught, the means
and methods Of instruction adopted, the
number Of students, with their names, class
es and residences, and such other matters
- he may deem proper to communicate.
Sec. II. The board Of regents shall on
the 6rst day Of October preceding each reg
ular meeting Of The General Assembly, make
. report 10 the Superintendent Of Public In
struction, which report, with that of the pres>
ident Of the University, shall be embodied
in the said Superintendent's report to the
General Assembly. The report Of the board
Of Regents shall contain the number Of pro-
fessors, tutors. and other officers, with the
compensation Of each. the condition Of the
University fund and the income derived
therefrom. the amount Of expenditures and
the items thereof, with such other informa>
ton and recommendations, as they may
deem expedient to lay before the General
Assembly.
Sec. l6. The Regents shall receive no
compensation except for mileage in travels
ing to and from the meetings Of the board;
which shall be ct the same rate, and com.
puted in the Same manner, - the mileage
allowed TO the members of the General As
sembly. The Auditor Of State il hereby
authorized to audit and allow the claims for
such attendance, for not more than three
meetings annually.
Sec. -. This act being deemed Of imme-
diste importance by the General Assembly,
shall take effect and be in fore from and
after its publication in the Daity Iswa State
Register, and the Iowa City Republican.
Approved April II, 1870.
l hereby certify that the foregoing Act
Was published in the Daily Iowa State Reg
lister April 18th, and in the Iowa City Re-
publican April 18th, 1870.
Ed WRIoHr, Secretary of State.