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The Pamphlet Collection of Sir Robert Stout: Volume 50

IV. — That the Trustees (Subject to the Reservations and to the Rights to Alter and Amend Hereinafter Contained) Shall have Power and it shall be their duty:

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That the Trustees (Subject to the Reservations and to the Rights to Alter and Amend Hereinafter Contained) Shall have Power and it shall be their duty:

1.To meet in the city of San Francisco on the fourteenth day of November, 1885, or as soon thereafter as practicable, and then and there—a majority of their number being present—to organize as a Board by electing one of their number chairman, and to transact such other business as may be proper.
2.To manage and control the institution hereby founded.
3.To manage and control the trust property, care for and improve the same, operate or lease it, and apply the net proceeds or profits thereof to the purposes of the trust hereby created.
4.To, in their discretion, receive grants of property from others in aid of the institution founded, or to establish scholarships therein, providing the same are made upon terms and conditions in harmony with the purposes of the institution as herein declared.
5.To receive from the grantors, or either of them, by grant or devise, such other property as the grantors or either of them may hereafter elect to give, and to hold such property upon the same conditions and to the same uses and trusts as are herein prescribed.
6.To make by-laws not inconsistent with the laws of this State, or the purposes of this grant, for the Government of the institution hereby founded.page break
7.To make rules and regulations for the management of the trust property.
8.To keep a full and fair record of their proceedings.'
9.To appoint a President of the University, who shall not be one of their number, and to remove him at will.
10.To employ professors and teachers at the University.
11.To fix the salaries of the President, professors and teachers, and to fix them at such rates as will secure to the University the services of men of the very highest attainments.
12.To use the rents, issues and profits of the trust company (but no part of the principal) in the execution of their trust, and in case such rents, issues and profits, for any one year, exceed the amount necessary to execute the trust and maintain the institution for said year, then to invest the same until its use becomes necessary.
13.To establish and maintain at such University an educational system, which will, if followed, fit the graduate for some useful pursuit, and to this end to cause the pupils, as early as may be, to declare the particular calling, which, in life, they may desire to pursue; but such declaration shall not be binding if, in the judgment of the President of the University, the student is not by nature fitted for the pursuit declared.
14.To prohibit sectarian instruction, but to have taught in the University the immortality of the soul, page 16 the existence of an all-wise and benevolent Creator, and that obedience to His laws is the highest duty of man.
15.To have taught in the University the right and advantages of association and co-operation.
16.To afford equal facilities and give equal advantages in the University to both sexes.
17.To maintain on the Palo Alto estate a farm for instruction in agriculture in all its branches.
18.To do and perform all things hereinafter provided for, and all things necessary to the proper exercise and discharge of their trust.