Year: 1870




! where payable, the amount. Of each
loan, ifzany,= land when made, and.


payable to whom. aud how secured


and at what interest, and =wheh.aul


where. payable. When any further
sales Of lands or further Instruments,
shall be made, Tie secretary sl'allcn-'


ter the same upon bis books as above
set forth. Tie secretary shall ccun-


tersign aud register all orders for
money on the treasurer, and the
treasurer shall not pay any order on
him for money, unless the same Le
countersigncd by the secretary.
Sec. 8. The board of Regents
shall elect treasurer who shah hold
bis Office at the pleasure Of the board
1t shall be his duty as treasurer to
keep true and faithful account Of
all moneys received and paid out by
him, aud before entering upon tn"
duties Of his office he shall take d
subscribe an oath that he will fait.-
fully perform the duties of treasurer;
and he shall also give bond in tho
penalty of fifty thousand dollars.
conditioned for the faithful discharge
of his duties as Treasurer, and that
he will at all times keep and render
a true account Of monies received by
him as such Treasurer, and Of the
disposition he has made of the same.
aud that ho will at all times be ready
to discharge himself Of tho trust,
and to pay over when required; which
bond shall have two or more good
sureties, and shall be approved as t,
it's form, and the sufficiency of its
sureties by the beard of Regents and
also the Auditor and Secretary Of
state, and shall be fled in the office
of the latter.


Sec. 10. The treasurer of d q
University shall have = set Of books.
in which he shall keep an accurate
account of all transactions relative
to the sale and disposition of Univ.r-
sity lands, and the management #
the fund arising therefrom; which
books shall exhibit what parts and
portions Of land have been sold, ut
what prices and to whom, and how
the proceeds have been invested. and.
on what securities, and what lands
still remain unsuld, where situated.
and Of what value respectively.


Sec. II. The treasurer shall, on
the first day of June and December
Of each year, notify in writing each
person in default Of payment OF 9th
er principal or interest Of funds loan
ed by or due to the University, and
shall cause suit to be commenced
against such delinquents, when in his ]
judgment the best interest Of the in-
terest of the institution requires


Sec. II. The board Of Regents
shall enact laws for the government
Of the University, and shall appoint
a president and requisite professors
and tutors, together with such other
officers as they may deem cxpcJient,
and shall determine the salaries Of
such officers, the compensation of the
secretary aud treasurer, and the
amount Of fees to be paid for tuition.
They shall remove any officer con-
nected with the University, when in
their judgment the good of the iusti.
tuition requires it.. ....


Sec. 13. The Board of Regents
is authorized to expend such Fortion
of the income Of the University fund,
as it may deem expedient in the pur-
chase of apparatus. library, and cab-.
met Of natural history, in providing
suitable means to keep and preserve
the same, and in procuring all other
necessary facilities fee giving in.trnn--
tion. .........


Sec. II. All specimens Of natural
history and geological and mineralog-
ical specimens, which are or hcreaf-
ter may DO collected by tire state
geologist Of Iowa, or by any others
appointed by the state to investigate
it's natural history and PHYSICAL re-
sources, shall belong to and be tho
property Of the state University, aud
shall form a part of its cabinet Of
natural history which shall be under
the charge Of the professor of that
department.. ...... ......


Sec. Is. No sales Of lands be-
longing to the University shall here
after take place unless the same shall
be decided upon at regular meeting
Of the board Of Regents. or at ono
called for that particular purpose.
and then only in the manner upon tho
notice and on tho terms which tho
board shall prescribe: and no mems
Der of the board shall he either di-
rcctly or indirectly interested in any
purchase Of such lands upon sale,
nor shall the secretary or treasurer
be so interested. 1t shall be lawful
for the board to invest any portion
of the permanent endowment fund
not otherwise invested, as well as
any surplus inaome which is not i'm.
mcdiately required for other purposes
in United States stocks or stocks Of
the state of Iowa. or by note and
mortgage on unincnmbered real estate
the value Of which after deducting
tho value Of all pcrishablc improve
n elts thereon. shall be double the
amount Of the sum loaned, and hold
tho same for the University, either
as q permanent fund or as an income
to aefray curlent expenses as said
board of regents may deem cxpedi-
ent. 1t shall not be lawful Cor tho
board to use any portion of the per-
manpnt fund far tho ordinarv n~non