purpose, the proceeds of said sale shall be divided, pro rata, among the stockholders. 8 10. BY-LAWS.-The trustees shall have power to make suitable by-laws for the regulation of the business of the incorporation, and the proper conducting of the said academy;" by which they may designate the number and names of the necessary officers of the incorporation, also the number and qualification of the several professors and teachers, and regulate their compensation, and the amount of the tuition fees to be charged, and the course of study to be pursued; also provide for the dismission or other punishment of refractory students. § 11. EXEMPTION.-The property, both real and personal, belonging to the incorporation, shall be forever exempt from taxation: Provided, that this section shall not extend to more than twenty five thousand dollars in value of personal property, nor to more than forty acres of real estate. APPROVED February 20, 1861. In force February AN ACT to amend an act and the amendments thereto, entitled "An act to in21, 1861. corporate the Illinois Liberal Institute," approved February 15th, 1851. Endowments. Conferring of degrees. SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That any property which may hereafter be donated to Lombard University, either real or personal, by gift, grant, bequest or otherwise, for the endowment of professorship, or for any specific purpose, in connection with the objects of said university, shall be by the board of trustees faithfully so applied and appropriated, as in their judgment will most ef fectually carry out the conditions of such gift, grant or bequest. § 2. The president of the university shall have power to confer such degrees and grant diplomas, in such form as may be approved by a majority of the faculty and of the board of trustees; and such diplomas shall be signed by the president of the university and by the secretary of the trus tees, and shall have affixed thereto the seal of the university; and that all the acts of the body heretofore acting as a board of trustees of said university or of the Illinois Liberal Institute be and the same are hereby legalized and declared valid in law. §3. That section five of amendment to the aforesaid act, approved January 26th, 1853, and section six of amendment to the aforesaid act, approved February 14th, 1857, be and the same are hereby repealed; and anything in the act to which this is an amendment, conflicting herewith, is here by repealed, and this act shall be a public act, and be read in evidence, without being specially pleaded; and shall be in force from and after its passage. APPROVED February 21, 1861. AN ACT to incorporate the Lockport Seminary at Lockport, Will county. In force February 22, 1861. SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That Hiram Norton, William Gooding, Geo. B. Martin, Robert Milen, Corporate name. Geo. Gaylord, John Heck, Chas. E. Boyer, Chas. Gass, and John B. Preston, and such persons as are or may hereafter be associated with them, and their successors, are hereby constituted a body corporate, by the name of "The Lockport Seminary," for the purpose of establishing and maintaining a seminary of learning in or near Lockport, Will county, Illinois, for males and females; with power to have a seal; to sue and be sued, plead and be impleaded; to take and hold real estate and other property, by purchase, gift, grant, devise or otherwise; to lease, convey and dispose of the same, for the effecting and furthering of the purposes aforesaid. § 2. The estate, property and financial concerns of said Amount of procorporation shall be managed and transacted by a board of perty. not less than five nor more than [nine] 9 trustees, to be elected by the stockholders hereinafter mentioned. § 3. The persons named in the first section of this act Board of trustees. shall constitute the first board of trustees; and they shall continue in office until their successors shall be elected by the stockholders. Said trustees shall appoint the teachers and officers and arrange the course of instruction in said institution, and determine the general manner of conducting said school. § 4. On the second Wednesday of August, 1861, and on Annual election. the same day of each year thereafter there may be an election of five trustees, who shall hold their offices until their successors are elected. Such election shall be by ballot and by a majority of stockholders present. § 5. Said corporation may have a capital stock of Capital stock. $20,000, divided into shares of $50 each; and the subscription to the same shall become binding, when $5,000 shall be taken; and shall be payable in installments, as said trustees may, from time to time, direct. And any subscriber failing to pay any installment or installments required shall, at the option of said trustees, forfeit his claim to said stock and all payments thereon. Said trustees may increase the capital stock to $100,000, if deemed by them necessary to carry out the purposes of this corporation. Seading of pupils by stockholders. Annual report. Taxation. Lease of school house. 86. Any person holding one or more shares of said capital stock shall be a member of this corporation, and entitled to one vote for each share of stock by him held, on which all installments required by said trustees shall have been paid. Each stockholder sending a pupil to said institution shall be allowed a deduction of ten per cent., annually, from the established prices of tuition, to be deducted, pro rata, from the tuition for each term. Said stockholders shall be, also, entitled to such dividends on their stock as the trustees may, from time to time, declare thereon. 87. The trustees shall choose their own officers and make their own by-laws, and may fill any vacancy in their body, by appointment of qualified persons, unti! the next election. 8. The trustees, at each annual election, shall make and submit a report to the stockholders of the state of the institution and its finances, with an inventory of its property, and declare such dividends, from the net proceeds and profits of its receipts or business, as the state of the finances of said institution may warrant: Provided, that no such dividend shall ever be declared or made where its payment would embarrass the finances or efficiency of the institution. $9. The property of said corporation, both real and personal, shall forever be and remain free from taxation. § 10. The board of directors of school district No. 6, town 11. This act is hereby declared to be a public act and force April 24, AN ACT to amend and additional to the act entitled "An act to incorporate the Lind University," approved February 13th, 1857. 1961. SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That the Establishment of board of trustees of said university be and they are hereby legal and medi- authorized to establish and carry on a legal and medical cal department. department, or either of them, at their option, in the city of Chicago, in Cook county, or at Lake Forrest, in Lake coun ty, as may in their judgment best subserve the public inte rest and convenience. § 2. The said board are also authorized to increase their Board of trustees. own number so as to constitute a board of 24 trustees, with the right to elect the additional members from any of the states adjoining the states of Illinois or Wisconsin; but the removal of any member of the board from the state of his residence, when elected, shall be deemed equivalent to a resignation of his trust, and the board may proceed regularly to fill such vacancy. tions. § 3. The following rules and regulations shall become Rules and regula parts and parcel of the constitution of the theological department of said university: First-Any presbytery, in connection with the body generally known and designated as "The New School General Assembly of the Presbyterian Church," in the states of Michigan, Indiana, Illinois, Iowa, Missouri and Minnesota, together with the territories adjacent thereto, shall be entitled to send their commissioners to meet in consultation and to co-operate with the trustees of said university in the affairs and management of the theological department thereof as follows: Presbyteries. Second-The presbyteries aforesaid designing and intend. Representative of ing, in good faith, to co-operate in this enterprise or theological school, may select, appoint, commission and send, each year, commissioners, on the principle of representation observed in the election of commissioners to their own gen. eral assembly. tion. Third-Such commissioners, together with the aforesaid Board of instrucboard of trustees, shall constitute a board of theological instruction, to which shall be committed all matters pertaining to the conducting of the theological department aforesaid, except the control and management of the property belonging to the same. This property shall be in the hands of the trustees alone, and shall be used exclusively for the benefit of the theological department, for which purpose it shall be kept entirely separate from the funds and general property of the university or other departments thereof. fessors. Fourth-No professor in the theological department Theological preaforesaid shall be elected or determined without a vote of two-thirds of the members of the board of theological instruction, who shall be present at an annual meeting or at a special meeting, duly called, the business of which shall have been explicitly stated in the call. ciation. 4. The seventh section of the act hereby amended shall Lake Forest asso be amended by striking out the following words or clause thereof: "A majority of the owners in the Lake Forrest association had, at any regularly called meeting of said association, and of," the effect of which amendment is designed to be in accordance with a resolution of the stockholders of the Lake Forrest association, adopted March 24th, 1857, whereby said association approved of the location of the theological department of Lind University on the Lake Forrest ground, or at or near Chicago: whichever place shall command a vote of three-fourths of the trustees of the university. APPROVED February 18, 1861. In force February 22, 1861. Trustees. Term of office. Officers of the institution. Capital stock. AN ACT to incorporate the Metropolis College. SECTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That R. A. Peter, W. R. Brown, J. C. Willis, Wm. McBean, W. P. Brenner, J. S. Armstrong, W. C. Munson, Wm. H. Green, John W. Carmicheal and John Ferrell be and they are hereby constituted a body corporate and politic, to be styled "The Trustees of Metropolis College," for the purpose of establishing and maintaining a male and female school, for educational purposes. $ 2. That said trustees and their successors, by the above style, shall have perpetual succession, with powers to contract and be contracted with, to sue and be sued, and to receive, purchase, hold and transfer real estate. § 3. The persons named in the first section of this act shall hold their offices until the first Monday in July, A. D. 1862, at which time their successors shall be elected by a vote of the stockholders. § 4. Said board shall, at its first meeting in July, of each year, elect, of its members, a president, a secretary and treasurer. They shall have power to fill any vacancy in the board until the next ensuing election after the occurring of such vacancy. $ 5. The board of trustees shall have power to select and employ a principal or president, and such professors and tutors as may be necessary; to fix their compensation, and dismiss any one of them, when required by the interests of the school; to establish separate male and female departments; to erect suitable buildings for the school and to provide the course of study, and to confer graduating diplomas and such other evidences of literary attainments as shall tend to encourage thoroughness of scholarship. § 6. Said corporation shall have a capital stock of fifty thousand dollars, divided into shares of fifty dollars each; and subscriptions to the same shall be binding when twenty thousand dollars shall have been subscribed, said subscriptions to be paid in installments of ten per cent. as often as may be directed by a majority of the trustees, at any regular meeting. § 7. Any person having a certificate for one or more shares of said stock shall be a member of this corporation, |