Repository: UIHistories Project: Book - History of the University (Powell) [PAGE 637]

EXTRACTED TEXT FROM PAGE:

Laws Concerning the University of Illinois

597

and control of said board as is not inconsistent with this act and the act of congress providing for the endowment of said University. 15. That all the right, title, and interest of the state of Illinois in and to said land scrip, is hereby invested in the Illinois Industrial University, for the use and purposes herein contained; and said scrip shall be assigned to said University by the governor of the State of Illinois on each certificate, and attested by the secretary of state under the seal of the state; and that the transfer of said scrip to purchasers by assignment on the back thereof, by the said officers of said University, under the seal thereof, in manner following, shall be deemed sufficient in law, to-wit: STATE OF ILLINOIS, ) Illinois Industrial University, \ For value received, the State of Illinois hereby sells and assigns to the within scrip, and authorizes to locate the same and obtain a patent on such location. Given under our hands and the seal of said University this day of . . . . . . . . A . D. 186 Countersigned by E. F., Recording Secretary, A. B., Regent, C. D., Treasurer. 16. That upon said treasurer making sale of any of said scrip, he shall at once invest the fund so received, report the same to the said board, stating amount sold, price obtained, and how the same was by him invested; which report shall befiledwith the recording secretary, who shall transmit a copy of the same to the governor of said state, and he to the congress of the United States, in accordance with said act of congress. 17. That the said board shall order upon its minutes which of the several kinds of securities mentioned in the fourth section of said act of congress said treasurer shall invest proceeds of sales in. 18. The bond required to be given by said treasurer shall be conditioned for the faithful discharge of his duties as trea-