Repository: UIHistories Project: Book - History of Illinois Land Grant Endowment [PAGE 37]

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I ami Ctrant Endowment hund

37

ordered: And Provided further, That any election heretofore held in any county, city, or town, for the purpose aforesaid, is hereby legalized and made valid. SKC. 3. The county, city, or town authorities, as aforesaid, are hereby invested with full power to make any and all need fid orders and regulations to carry into effect the foregoing provisions; and in case of an election being applied for. a^ aforesaid, it shall be the duty of said authorities to give the usual and seasonable notices, required by law, according to this act, and the end in view and to conduct and report the same in the usual way. Such election to be conducted and return made according to the law governing elections: Provided, That the registry of votes used at the last general (election) shall be the registry for any election to be held under this act. SFC. 4. This act shall be a public act, to take effect and l>e in force from and after its passage. (Public Lazes of Illinois, 1867, pp. 122-23) SEC. 18. The bond required to l>e given by said Treasurer shall be conditioned for the faithful discharge of his duties as Treasurer of the "Illinois Industrial University," and for any breach thereof suit may be instituted in the name of the "Illinois Industrial University"; and it shall be deemed a criminal offense for any person or persons holding in trust any part of the funds of said university knowingly or negligently to misapply or misappropriate the same, indictable in any court and injurisdiction in the same manner as other crimes are punishable, by fine or imprisonment, at the discretion of the Court, according to the nature of the offense. SEC. 19. This act shall be a public act and take effect and be in force from and after its passage. (Public Lazes of Illinois, 1867, pp. 128-29)

Ax ACT SUPPLEMENTAL TO " A N ACT TO PROVIDE FOR THE ORGANIZATION, ENDOWMENT AND MAINTENANCE OF THE ILLINOIS INDUSTRIAL UNIVERSITY."

SEC. 1. He it enacted by the People of the State of Illinois, represented in the General Assembly, That if the legal authorities of the County of Champaign shall not, by or before the first day of June, 1867, convey or cause to be conveyed, to the board of trustees of the Illinois Industrial University, by a good and unencumbered title, in fee simple, all the real estate mentioned and contained in the propositions of said county, and which real estate is described and set out in the act to which this act is supplemental, amounting to nine hundred and eighty acres of land, and if said County shall not also pay over and deliver to said trustees by said day, all the bonds and other property so offered by said County, mentioned in said act, then said board of trustees or a majority of them shall proceed without delay to permanently locate and establish said Illinois Industrial University in McLean, Logan, or Morgan County; such countj so selected shall in like manner be required in all things to fulfill and comply with the conditions and provisions of the offer heretofore made by such county, as an inducement for the location of said university in such county. SEC 2. This act shall be deemed a public act, and be in force from and after its approval (Public Laws of Illinois, 18o7, p. \M))

TRANSI I R or THE ENDOWMENT FUND TO THE STATE

SEC 2. The State hereby charges itscli with liability for the endowment fund tb I 'diversity, amounting to $456,712.^1 and for so much in addition as tnay be re*' ived in the future ii>m the sale of lands as aforesaid and will pa\ the University interest thereon at the rate of five per cent per annum.