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On motion duly seconded adopted the above report was
accepted and adopted and the persons therein named
was declared to be elected to the several positions named in
said report and at the salaries therein named until July 1,
1903.
[inserted] Election of
Treas [end inserted] On motion duly seconded and adopted A.J. Frame
was elected Treasurer of the Ohio University for the
ensuing year at a salary of 600$ per year.
[inserted] Election of
Aud. [end inserted] On motion
duly seconded and adopted L.M Jewett was elected
Auditor and Secretary of the Ohio University at a salary
of 400$ per year.
Mr Jewett offered the following
resolution to wit:
"Whereas the Act of the General
Assembly of the State of Ohio of April 2nd 1900 (94.OL-94)
authorizes the Board of Trustees of the Ohio University from
time to time to issue certificates of indebtedness in
an amount not exceeding $55.000. in anticipation of
the annual levies authorized by Section 3951- of the
Revised Statutes of Ohio, as amended March 28th 1891
88. O.L. 159), and as further amended February 26th
[inserted] O.U. Certificate [end inserted] 1896 (92- O.L Page 40), and further provided that the
whole amount of said certificates of said indebtedness
shall be paid by said Board out of the proceeds of such
levies on or before December 1916.
And Whereas it is
necessary in order to redeem and pay off said
certificates falling due on Sept 1st 1902, amounting to
the sum of $10.000.00 , and to issue and sell at not
less than the par value thereof under the authority
conferred by the Act of April 3rd 1900 $5.000.00 of the
Ohio University [inserted] Certificates [end inserted] to become due on the 1st day of September
1910, and $5.000.00 , of said Ohio University Certificates
to become due on the 1st day of September 1911.
Now
therefore be it resolved by the Board of Trustees of
the Ohio University, that the Secretary of this