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57
Annual Meeting. Thursday August 4, 1853.

and that each member of the Board act as an Agent of
the University in procuring such subscription, and report
to the Board at its next meeting
Resolved, that the Acting Committee prepare suitable
Subscription Lists, defining the mode of payment
and security of amounts subscribed etc. and furnish
the members of the Board severally with copies thereof.
On motion, Resolved, that the Treasurer be authorized
to issue a Lease to the purchaser or purchasers of the East
Subdivision of the Lot No. 18, in the Town of Athens, being
so much of said Lot as lies East of the Subdivisions now
occupied by the Presbyterian Church and Market house,
the division line commencing on the South line at the
free corner four feet East of said Church subdivision
at an annual Rent therein reserved to the University
of twenty five dollars, whenever the said East Subdivision
shall be sold by the Board of Education of the Town
of Athens under an act of the General Assembly authorizing
a sale thereof.
A Resolution authorizing the Committee on Scholarships
to make sale of perpetual Scholarships at $100, not exceeding
the number of 500, on motion was postponed to next meeting
The committee to whom was referred the memorial of
D.W. Daugherty and Joseph Michael, reported a resolution
granting the prayer of the memorialists, which on motion
was postponed to the next meeting.
The Committee of Finance made a report on
Tuesday, which was accepted in substance as follows.
The Total Receipts for the year 1852 were $5259 80
Paid out during same period 5363 26
Excess of Expenditures over Receipts $103 46
Orders drawn during the year 5363 26
Outstanding Jan. 1, 1852 187 79 = 5551 05
Redeemed during the year 5432 82
Remaining outstanding Jan 1, 1853 118 18
Reduction of outstanding orders during the year 69 61
Paid of principal of loan from State 163 88
Total paid of principal of debts 223 49
Total indebtedness as reported Jan. 1, 1852 8482 32
Reduction during the year 223 49
Total remaining indebtedness Jan. 1, 1853 $8248 83
(over)