The weekly Ottumwa courier. [volume] (Ottumwa, Iowa) 1857-1872, 1870-06-02
ORDERS SOLICITED.

! bow secured, and when payable,
what lands remain unsold, whero
situated, and their appraised value if
appraised, or their estimated value if
not appraised. His books shall also
show how the permanent fund of tho
University has been invested, the
amount Of each kinds of stocks, if
any, with the date thereof and whom
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 So
cured aud at what interest, and when
and where payable. When any fur
ther sales Of lands or further instru-
ments shall be made. the secretary
shall enter the same upon his books
as above set. forth. The secretary
shall countersign and register all or
ders for money on the treasurer, and
the treasurer shall not pay any order
on him for money, unless the samo
be countersigned by the secretary.
Sec. 9. The bosrd of Regents shall
elect treasurer who shall hold his
Office at the pleasure of the Board
1t shall..be his duty as treasurer to
keep q true and faithful account all
moneys received and paid out by
him, and before entering upon tho
duties of his Office he shall take and
subscribe an OATH that he will faith.
fully perform the duties of treasurer;
and he shall also give bond in the
penalty of fifty thousand dollars,
conditioned for the faithful discharge
of his duties as Treasurer, and that
he will keep and render:a true ac-
count Of monies received by him as
such Treasurer, and ofthe disposition
he has made of the same, and that
he will at all times be ready to dis
charge himself of the trust, and to
pay over when required; which bond
shall have two or more good sureties
and shall be approved as to its form,
and the sufficioncy OF its surotios by
the board of Regents and also tho
Auditor and Secretary of State, and
shall be filed in the Office Of tho
latter. .,.
500. 10. The Treasurer Of thou
versity shall have q set of books, in
which he shall keep an accurate
account of all transactions relative
to the sale and disposition of Univor-
sity lands, and the management of
the fund arising therefrom which
books shall exhibit what parts and
portions of land have boon sold, at
what prices and to whom, and how
th Q proceeds have been invested, and
in what securities, and what lands
still romain. ..unsold, wherc situated,
and of what value respectively.
Sec. IL. The treasurer shall, on
the first day Of June and December
of each year, notify in writing each
person in default of payment Of either
principal or interest Of funds loaned
by or due to the University, and
shall cause suit to be commenced
agoinst such dclinqpcnta, when in
his judgement the best interests OF
the institution requires.
Sec. IL. The board OF Regents
shall enact laws for tho government
of the University, and shall appoint
a president and requisite professors
and tutors. together with such other
officers as they may deem expedient,
and shall determine the salaries OF
officers, the compensation Of tho
secretary and treasurer, and tho
amount of fees to be paid for tuition.
They shall remove; any officer. con-
uected with the University, whom in
their Judgment the good Of the insti-
tuition requires it.
Sec. 13. The Board Of Regents is
authorized to expend such portion OF
the income of the University fund,
as it may deem expedient in the pur.
chase Of apparatus, library, and
cabinet of natural history, in provid-
ing suitable means to keep and pre-
serve the same, and in procuring all
other necessary facilities for giving
instruction.
Sec. IA. All specimens of natural
history and geological and mineralo
pical specimens, which are or here
after may be collected by the State
of Iowa, or by any Others appointed
by the State to investigate it's natural
resources, shall belong to and be the
property of the State University, and
shall form part Of its cabineTof ma
tural history which shall be under
the charge of the professor OF that
department.
Sec. Is. No sales of land belonging
to the University shall hereafter
take place unless tho same shall be
decided upon at q regular meeting
of the board Of Regents, or at one
called for that particular purpose,
and then only in the manner upon
the notice and on the terms which
the board shall prescribe; and no
member of the board shall be either
directly or indirectly interested in
any purchase ofsuch lands upon sale,
nor shall the secretary or treasurer
be 30 interested. 1t shall be lawful
for the board to invest any portion
of tho permanent endowment fund
not otherwise invested, as well as
any surplus income which is not i'm
mediately required for other pur-
poses in United States stocks or
stocks of the State Of Iowa, or by
note and mortgage on unincumbered
real estate the value Of which after
deducting the value of all perishablc
improvement thereon, shall DO
double the amount of the SUM loaned,
and hold the Same for the Universe.
ty. either as . permanent fund or as
an income to defray the current ex-
penses as said board Of Regents
may deem expedient. 1t shall not
be lawful for the Board to use any
portion of the permanent fund for
the ordinary expenses Of the institu-
tion.
Sec. 16. The president Of the Uni
versity shall make q report on the
fifteenth day Q September, proceed
ing tho meeting Of the General As.
sembly, to the board of Regents,
which shall exhibit tho condition
and progress of the institution in its
various departments, the different
courses study pursued therein, the