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Caption: Book - History of the University (Powell)
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Bills and Acts to Establish an Educational Institution 545 President and 12. The trustees shall elect a president and Secretary secretary of the board of trustees from among their own body, and also appoint some suitable person the treasurer of said institution to serve for the term of one year, and until his successor shall be appointed. Open to all 13. The said institution and its preparadenominations tory departments shall be open to all denominof Christians. ations of christians, and the profession of any particular religious faith shall not be required of those who become students. All persons, however, who are idle or vicious, or whose characters are immoral, may be suspended or expelled. Property 14. The lands, tenements and hereditaments to be held in perpetuity in virtue of this act by this corporation shall not exceed one thousand acres: Provided, Jiowever, that if donations, grants, or devises in lands shall from time to time be made to this corporation, over and above one thousand acres, which may be held in perpetuity, as aforesaid, the same may be received and held by such corporation for the period of ten years from the date of every such donation, grant, or devise; at the end of which time, if the said lands, over and above the one thousand acres, shall not have been sold by the said corporation, then and in that case, the said lands so donated, granted or devised shall revert to the donor, grantor, or the heirs of the devisor of the same, if the donor, grantor, or the heirs of the same shall so demand. 15. All the real and personal estate belonging to or belong to said corporation shall be exempted from taxation for any and all purposes whatever. Approved February 12, 1853. Proviso Exempt from Taxation.
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