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Caption: Booklet - UI Senate Committee for Establishing UI Constitution (1915)
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PROPOSED STATUTES The following paragraphs are suggested for inclusion, not in the Constitution, bul In a supplementary set of S t a t u t e s or Regulations: THE 575 TREASURES (1) The Treasurer shall receive all appropriations mad to tl. University by the State and by the United Sta1 ind also all gifts, moneys, and securities accepted by the Board of Trustee , He shall collect, when it becomes due, the interest accruing on money and rarities, including: land contracts, of the University; shall also collect the principal of said securities when it becomes due; and shall rej rt promptly to the Secretary for record the receipt of all funds and a description of each security placed in his custody. (2) The Endowment Fund shall be kept invested by the Treasure] and the Finance Committee of the Board of Trust >. The Treasure] shall forthwith report all changes in investments to the Secretary, who sliall enter the same on his records. At each regular meeting of the Board the Committee shall report for approval its action concerning the investment of funds. (3) The Treasurer shall keep the accounts of the funds and securities in his custody in such form as shall be prescribed by the Board of Trustee and shall submit his accounts to the Board for audit. (4) At each regular meeting of the Board of Trust* s, the Treasurer shall report, in such manner as the Board may prescribe, tin transactions of his office for the fiscal quarter preceding the m. ting. and also the condition of all funds at the end of the quarter. He shall also report at any other time that the Board may direct. (5) The Treasurer shall give bond, payable to the Stat t: Illinois, for the use of the University of Illinois, in the sum of Two Million Hollars ($2,000,000), for the safe keeping of funds, for the payment o( th< same in obedience to the rides and orders of the Board of Trust and for the faithful performance of his duties as Tr usurer, THE (6) SECRETARY 580 5 •90 •95 i00 The Secretary shall colled and account for all moneys from due fees, tuitions, and all other sources, unless it is provided that thcollection shall he made by the T r e a s u r e r , lie shall remit monthly to the T r e a s u r e r the moneys received by him. At the end of every fiscal
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