Year: 1862




shall exhibit what Of the University lands
have been sold when the same we're sold;
at what prices, and to whom on what
terms what portion of the purchase
money has been paid, and when paid on
each sale and how g., same has been in.
vested, 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 its
appraised value if appraised or its esti
mated 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 were pay
able, to whom, and how secured; and at
what interest, and when and where paya>
BILE When any further sales Of land, or
further investments shall be made, the
Secretary shall enter the same upon his
books as above set forth. The Secretary
shall countersig gn 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 countersisned
by the Secretary. On the first day Of
February Of each year, the Treasurer shall
report to thu Secretary all defaults of pay.
meats Of either principal or interest, with
the names ard the address Of persons SO
in default and thcreupon, the Secretary
shall Immediately notify, in writing, each
person so in default, urging payment.


Sec. l3. The Board of Trustees are au
thorized to expenI such portion of the
income Of the University Fund, as it may
deem expcdient in the purchase of Ap
| para,us, Library and Cabinets Of Natural
History, in providing suitable means to
keep and preserve the same and in the
procurement Of all other means and facii
tiles for giving instruction.


SEC. ii. The Certificate or Diploma Civ.
ell to graduates OF The Normal Department
Of the State University shall be sufficient
evidence or qualification, to enable them
to teach in any Of the Public Schools of
the State, ia which their services may be
desired, without procuring a Certificate
from any County Superintendent: Proci
dsd, he be of good moral character


Sec. lj. The first meeting Of the Board
Of Trustees under this Act. shall be q,
such time in the year lSC:2, as the Seere-
tary 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.


SEC l6 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 all vacan'
cies occurring thereon, except when the
Board Of Education is in session and the
person so appointed shall hold his office
until the next regular session Of the Board
Education.


Sec. II. The Treasurer Of the Universi.
ty shall have set of books, in which he
shall Ike ep an accurate account of all trans.
actions relative to the sale and disposition
of the University lands, and the manage
ment of the fund arising therefrom which
books shall exhibit what parts and portions
of land have been sold, at what prices,
and 20 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.


SEC. Is. No sales of lands belonging to
the University shall hereafter take place,
unless the same shall be decided upon at
regular meeting of the Board of Trus.
tees, or at one called for that particular
purpose. aud 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 Of
such lands upon sale and it shall be law
full for the Board to invest any surplus in
come, which is not Immediately required
for the purposes of instruction, in the
United States, or other interest paying
State Stocks, and 70 hold the same for the
University, either as a perpetual fund or
rs an income to defray current expenses,
as said Board of Trustees may deem ex-
pedient.


SEC. 10. The Board of Trustees shall
make report to the General Assembly,
and to the Board of Education, at each
of their respective sessions, which shall
exhibit the stale, condition and progress
Of the University in its several depart
ments; the different courses Of study pur'