Repository: UIHistories Project: Board of Trustees Minutes - 1873 [PAGE 175]

EXTRACTED TEXT FROM PAGE:

171 trustees—three in each of the three grand divisions of this State—who, together with the Governor and the President of the State Board of Agriculture, for the time being, shall constitute the Board of Trustees of the Illinois Industrial University, and shall succeed to and exercise all the powers conferred by the act entitled u An act to provide for the organization and maintenance of the Illinois Industrial University,'7 approved February 28, 1867, except as is herein or may be hereafter provided by law. The said appointments shall be subject to approval or rejection by the Senate, at its present or next session thereafter, and the appointees shall be and are hereby authorized to act as Trustees of the said University from the time of such appointment, unless* in case of rejection by the Senate, until their successors shall be appointed by the Governor, and such appointment shall be approved by the Senate. § 2. The members of the Board of Trustees, and their successors, shall hold their office for the term of six years each: Provided, that at the first regular meeting of said Board, after such appointment, the said members shall select by lot three of their number to hold office for two years, three to hold office for four years, and three to hold office for six years, from the time of convening of the present General Assembly. The Governor, by and with the advice arid consent of the Senate, shall fill all vacancies which may at any time occur by expiration of term of office or otherwise in said Board, by appointment of suitable persons resident in the respective grand divisions in which such vacancies may occur. Said Board of Trustees may appoint an executive committee of three, chosen out of their own number, who, when said Board is not in session, shall have the management and control of the said University and of its affairs, and for that purpose shall have and exercise all the powers hereby conferred on said Board, which are necessary and proper for such object, except in so far as the said Board may and does reserve such powers to itself; and any powers granted at any time, by said Board to said Executive Committee, may be by them at any time revoked. § 3. Ko member of said Board shall hold or be employed in or appointed to any office or place under the authority of the Board, of which he is a member, nor shall any member of said Board be directly or indirectly interested in any contract to be made by said Board for any purpose whatever. § 4. The fiscal year of the said University is hereby declared and required to terminate on the thirty-first day of August, in each year, and all reports of ihe University, except catalogues and circulars, shall be addressed to the Governor, and the annual reports shall contain a full account of the financial and other transactions of the University to the close of the fiscal year as aforesaid, together with a full statement of the