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Caption: Book - History of the University (Powell)
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Arguments of Three Counties 489 A FEW REASONS FOB THE LOCATION OF THE INDUSTRIAL UNIVERSITY AT LINCOLN The citizens of Logan county, under the provisions of the general act passed at the present session of the Legislature, have voted a subscription of $300,000 to secure the location of the Industrial University in their midst. The County Court of said County, in furtherance of this movement have caused to be entered of Record an order for the issuance of the Bonds of the County in the said sum of $300,000—payable to the State of Illinois for the use of the University in ten years, with annual coupons bearing 10 per cent interest, provided the University shall be located in said county. The citizens of Lincoln, at an independent election held under the provisions of the same act, have voted an additional sum of $50,000 to secure the location of said University at or near Lincoln, and in pursuance of said election the City Council of Lincoln have caused to be entered of Record an order for the issuance of the bonds of the City of Lincoln in the sum of $50,000 payable to the State of Illinois for the use of said University, one-half in five years, and one-half in ten years, with ten per cent annual interest, upon the condition that said University shall be located at or near the City of Lincoln. These elections were held, (as is believed) in strict conformity with the law, and the evidences of the respective action of said City and County authorities in the premises in the nature of authenticated copies of their Public Records have been placed in the hands of your Special Committee who were charged with the investigation of our offer. In addition to the foregoing, the President and Directors of the Chicago and St. Louis Rail Road, with great liberality have proposed in uniting to donate in freights to the State, an amount equal to $50,000, should said University be located at Lincoln, which proposal is also in the hands of the same Committee. GASH VALUE OP THE BID As an evidence that these bonds will be equivalent to cash, we rely upon the following facts: Logan County is entirely
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