UIHistories Project: A History of the University of Illinois by Kalev Leetaru
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Repository: UIHistories Project: Book - History of Illinois Land Grant Endowment [PAGE 36]

Caption: Book - History of Illinois Land Grant Endowment
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University

of

Illinois

use and purposes herein contained; and said scrip shall l>c assigned to said University by the governor of the State of Illinois on cadi certificate and attested by the Secretary of State under the seal of the State; and that transfer of said scrip to purchasers by assignment on the back thereof, by said officers of said University, under the seal thereof, in manner following, shall be deemed sufficient in law, to-wit: State of Illinois, ( ss Illinois Industrial University) For value received, the State of Illinois hereby sclU and assigns to the within scrip, and authorizes 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. 1 8 6 . . . .

to

SEC. 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 Hoard stating amount sold, price obtained, and how the same was by him invested; which report shall be filed with 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. SEC. 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. (Public Laws of Illinois, 1867, pp. 123-24, 128-29)

A N ACT IN RELATION TO THE LOCATION OF THE INDUSTRIAL UNIVERSITY

Whereas, Each portion of the State is alike interested in the proper location of said University, and it is desirable to enable the public spirit in each community or section to fully compete for such location; therefore, SEC. I. Be it enacted by the people of the State of Illinois, represented in the general assembly, That any county, city, township, or incorporated town of said State, may, by taxation, as well as by voluntary subscription of its citizens, raise a fund to secure the location of said University at any point whatever; and any other corporation in this State may make bids and subscription for the purpose of securing said location at any point whatever. SEC 2. That any county, through its county courts or board of supervisors, and any township or town, through its supervisor, assessor and collector, and any city or incorporated town, through its council or board of aldermen, or other constituted authorities, as the case may be, may subscribe such sum or sums as they may deem necessary, to secure such location, and to raise the amount or amounts so subscribed by taxation, or by issuing bonds, payable at any reason* able or convenient time, and bearing any rate of interest not exceeding ten per cent per annum: Provided, however, That no tax shall be levied for such purpose until the proposition so to raise a fund together with the amount to be raised shall, after at least ten days' notice, be submitted to a vote of the people so to be taxed, and be approved by a majority of the persons voting at such election: Provided, That the < nnty clerk of such county shall ordei election in accordance with the provisions of this act: .hid p* . W . a That it shall not be obligatory on any county, city or town authorities »r count) clerk, as aforesaid, to submit any such proposition to a vote of the people. unl at least one hundred of the legal voters of said county, cit) or town shall petition for th« .on. . in which event said election or elections shall U