Repository: UIHistories Project: Board of Trustees Minutes - 1869 [PAGE 87]

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At our November meeting, the Treasurer and Finance Committee were authorized to sell 50,000 acres of land scrip at ninety-five cents. As yet we have not been able to effect a sale, and would suggest that the limit be removed, and authority to sell without limit be granted. The location of the 25,000 acres of scrip will probably be attended to at as early a date as possible the coming spring and summer, by the Treasurer and Mr. Goltra, in whose hands it was put at our November meeting. The sale of lands already located should receive attention as soon as practicable; and with a view of furthering the same, the Treasurer was authorized, at our November meeting, to procure books, classifying said lands, with such other information as could be obtained in relation to them. The interest-bearing securities in the hands of the Treasurer remain the same as at our November meeting. The Treasurer and the Chairman of the Finance Committee are doing their utmost to obtain county bonds ^issued for other than railroad purposes) bearing a rate of interest at least eight per cent., into which we may convert most or all our Illinois bonds, bearing six per cent. The estimates cf expenditures for the coming year will have to be made after the Board, through the various committees, have signified their wishes in regard to improvements, etc. In regard to our expected appropriation from the State, we WG uld recommend that the Board, before its adjournment, should signify its wishes as to the expenditure of the same, as much in detail as possible, and would recommend that it should be put in substantial improvements, economically as may be, and strictly for the purposes appropriated. Respectfully submitted. EMORY COBB, H. C. BURCHARD. On motion, the report was accepted and approved. It was moved that the report of the Regent be taken up in detail, and allotted to the appropriate committees. On motion, the first or introductory portion was referred to the Committee on Faculty and Course of Study; so much as relates to the farm, to the Committee on Agriculture ; so much as relates to buildings and grounds, to the Committee on Buildings and Grounds; so much as relates to Horticulture, to the respective committee; so much as relates to Library and Cabinets, to the committee on same ; so much as refers to the Mechanical Department, to the committee on this department; so much as relates to Finances, referred to the Committee on Finances; so much as relates to warrants drawn, to the Auditing Committee; so much as relates to honorary scholarship, to the Committee on Faculty —**10