Repository: UIHistories Project: Book - History of Illinois Land Grant Endowment [PAGE 38]

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38

University

of

Illinois

SEC. 3. The amount of interest due on said fund shall be paid to the Treasurer of the University semi-annually, on the first day of January and July in each vear. on the order oi the Chairman and Secretary of the Hoard of Trusteev SEC 5. The Governor, Auditor of Public Accounts and State Treasurer shall have, and they are hereby given, full power and authority to collect from any and all persons from whom any of said funds herein above named may \x: due, to receive any bond or other securities hereto belonging to the University, or which may be turned over to the Hoard of Trustees in payment of said endowment fund, or as a part thereof, and to sell and to dispose of the same and to carry into full force and effect all the provisions of this act. And it shall be their duty to take any steps they may deem proper to protect the interests of the University of the State of Illinois in reference to the funds aforesaid. (Public IMWS of Illinois, 1897, pp. 72 73)

DEFALCATION OF CHARLKS W. SPALDING

AN* ACT TO ADJUST AND SETTLE SUITS AND CLAIMS GROWING OUT OF A DEFALCATION OF CHARLES W. SPALDING

(House Bill No. 913—Approved June 26, 1913) AN ACT in relation to the adjustment and settlement of suits and claims growing out of the failure of Charles W. Spalding, late treasurer of the University of Illinois, to account for certain moneys and securities of the said University of Illinois, and making an appropriation to carry into effect the provisions of this Act. SEC. 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly: That the commission, consisting of the Governor, Auditor of Public Accounts, and State Treasurer, created by an Act, entitled "An Act to make appropriations for the University of Illinois and providing for the management of the funds of said university, and for the protecting the interests of the State in connection therewith," approved and in force June 11, 1897, and to collect from any and all persons from whom any of the funds and other securities not accounted for by Charles W. Spalding, late treasurer of the University of Illinois, may be due, to receive any bond or other securities belonging to the University or which may be turned over to the Board of Trustees in payment of said endowment fund, or as a part thereof, and to sell and dispose of the same, be, and the same is hereby authorized and empowered to settle, adjust, compromise, and discharge all actions and suits at law or in equity, whether now pending and undetermined or in judgment, whether brought or pending in the courts of this State, or in courts of other states or of the United States, commended, prosecuted, or defended either by or on behalf of such commission or by the University of Illinois, the trustees of the University of Illinois, the People of the State of Illinois for the use of the University of Illinois, or the People of the State of Illinois on account of the failure of the said Charles W, Spalding to account to the University of Illinois for moneys and to deliver certain securities belonging to the University of Illinois or n account of the management, custody, control, disposition, or sale of am and all securities and property, both real and personal, assigned and deliver*<1 h> th said Charles W. Spalding to the trustees of the University oi Illinois < - nriiy for his said indebtedness. Said commission is farther authorized and empowered, in its discretion, to irtth adjnet, compromise, and discharge the indebtedness of the said CharK W. Spalding to the University of Illinoi . and t<» mak such disposition at th securities and other property assigned and delivered l>\ the said Charles \\