﻿ACADEMY 
  OF 
  SCIENCES. 
  349 
  

  

  Sec. 
  4. 
  The 
  Trustees 
  shall 
  select 
  some 
  bank 
  in 
  the 
  city 
  of 
  San 
  Francisco 
  as 
  

   the 
  depository 
  of 
  the 
  funds 
  of 
  the 
  Academy, 
  and 
  shall 
  cause 
  all 
  moneys 
  re- 
  

   ceived 
  by 
  them, 
  or 
  by 
  any 
  one 
  of 
  them, 
  to 
  be 
  deposited 
  in 
  such 
  bank 
  in 
  the 
  name 
  

   of 
  the 
  California 
  Academy 
  of 
  Sciences. 
  The 
  bank 
  selected 
  by 
  them 
  as 
  such 
  

   depository 
  may 
  be 
  changed 
  whenever 
  the 
  Trustees 
  shall 
  deem 
  it 
  expedient. 
  No 
  

   moneys 
  shall 
  be 
  withdrawn 
  from 
  said 
  bank 
  except 
  upon 
  the 
  written 
  order 
  and 
  

   direction 
  of 
  the 
  Trustees, 
  and 
  no 
  disbursement 
  shall 
  be 
  made 
  except 
  upon 
  de- 
  

   mands 
  that 
  have 
  been 
  properly 
  audited 
  by 
  them, 
  and 
  for 
  which 
  their 
  warrant 
  

   shall 
  have 
  been 
  drawn, 
  signed 
  by 
  the 
  President 
  and 
  Secretary 
  of 
  the 
  Board 
  of 
  

   Trustees, 
  and 
  countersigned 
  by 
  the 
  Treasurer 
  of 
  the 
  Academy. 
  They 
  shall 
  

   cause 
  suitable 
  books 
  of 
  accounts 
  to 
  be 
  kept, 
  which 
  shall 
  at 
  all 
  times 
  clearly 
  

   show 
  all 
  their 
  transactions, 
  receipts, 
  and 
  disbursements. 
  At 
  the 
  annual 
  meet- 
  

   ing 
  they 
  shall 
  present 
  to 
  the 
  Academy 
  a 
  detailed 
  statement 
  of 
  all 
  their 
  trans- 
  

   actions 
  during 
  the 
  preceding 
  year, 
  together 
  with 
  vouchers 
  for 
  all 
  payments 
  

   made 
  by 
  them, 
  and 
  a 
  full 
  report 
  of 
  all 
  property, 
  real 
  and 
  personal, 
  held 
  by 
  

   them, 
  and 
  of 
  the 
  condition 
  of 
  the 
  Corporation. 
  

  

  Sec. 
  5. 
  Whenever 
  the 
  Trustees 
  shall 
  have 
  in 
  their 
  hands 
  funds 
  that 
  in 
  their 
  

   opinion 
  are 
  not 
  needed 
  for 
  the 
  immediate 
  use 
  of 
  the 
  Academy, 
  they 
  shall 
  have 
  

   the 
  power 
  to 
  loan 
  the 
  same 
  in 
  the 
  name 
  of 
  the 
  Corporation 
  upon 
  such 
  terms 
  as 
  

   they 
  may 
  deem 
  advisable. 
  

  

  No 
  loan, 
  however, 
  shall 
  be 
  made 
  except 
  the 
  same 
  shall 
  be 
  secured 
  by 
  mort- 
  

   gage 
  of 
  unincumbered 
  real 
  estate 
  in 
  the 
  City 
  and 
  County 
  of 
  San 
  Francisco, 
  the 
  

   value 
  of 
  which, 
  exclusive 
  of 
  all 
  improvements, 
  shall 
  in 
  the 
  judgment 
  of 
  the 
  

   Trustees 
  be 
  twice 
  the 
  amount 
  of 
  the 
  loan 
  ; 
  or 
  by 
  a 
  pledge 
  of 
  bonds 
  of 
  the 
  State 
  

   of 
  California, 
  or 
  of 
  the 
  City 
  and 
  County 
  of 
  San 
  Francisco, 
  whose 
  par 
  value 
  

   shall 
  be 
  double 
  the 
  amount 
  of 
  the 
  loan. 
  

  

  The 
  funds 
  of 
  the 
  Academy 
  shall 
  not 
  be 
  loaned 
  to 
  'any 
  of 
  its 
  Trustees, 
  nor 
  

   shall 
  any 
  loan 
  be 
  made 
  except 
  upon 
  the 
  vote 
  of 
  not 
  less 
  than 
  five 
  of 
  the 
  Trus- 
  

   tees, 
  entered 
  upon 
  the 
  record 
  of 
  their 
  proceedings, 
  and 
  specifying 
  the 
  amount, 
  

   terms, 
  and 
  security, 
  and 
  the 
  person 
  to 
  whom 
  the 
  loan 
  is 
  made. 
  If 
  any 
  loan 
  

   shall 
  be 
  made 
  contrary 
  to 
  the 
  provisions 
  of 
  this 
  section, 
  the 
  Trustees 
  making 
  

   the 
  same 
  shall 
  be 
  individually 
  and 
  severally 
  liable 
  to 
  the 
  Corporation 
  for 
  th 
  e 
  

   amount 
  so 
  loaned. 
  

  

  Sec. 
  6. 
  The 
  Trustees 
  shall 
  have 
  power, 
  if 
  in 
  their 
  judgment 
  it 
  is 
  advisable, 
  

   to 
  invest 
  any 
  of 
  the 
  funds 
  of 
  the 
  Academy 
  not 
  needed 
  for 
  immediate 
  use, 
  in 
  

   bonds 
  of 
  the 
  State 
  of 
  California, 
  or 
  of 
  the 
  City 
  and 
  County 
  of 
  San 
  Francisco. 
  

   Such 
  investments, 
  however, 
  shall 
  be 
  made 
  only 
  by 
  the 
  unanimous 
  vote 
  of 
  all 
  the 
  

   Trustees, 
  entered 
  upon 
  the 
  record 
  of 
  their 
  proceedings, 
  and 
  specifying 
  the 
  

   amount 
  and 
  character 
  of 
  the 
  investment. 
  

  

  Sec. 
  7. 
  The 
  Trustees 
  shall 
  have 
  the 
  custody 
  of 
  the 
  corporate 
  seal 
  of 
  the 
  

   Academy, 
  and 
  shall 
  affix 
  the 
  same 
  to 
  all 
  contracts 
  entered 
  into 
  by 
  them 
  in 
  the 
  

   name 
  of 
  the 
  Corporation. 
  

  

  ARTICLE 
  IV. 
  

  

  officers. 
  

  

  Section 
  i. 
  The 
  officers 
  of 
  the 
  Academy 
  shall 
  be 
  a 
  President, 
  First 
  and 
  Sec- 
  

   ond 
  Vice-Presidents, 
  a 
  Corresponding 
  Secretary, 
  a 
  Recording 
  Secretary, 
  a 
  

   Treasurer, 
  a 
  Librarian, 
  and 
  a 
  Director 
  of 
  the 
  Museum, 
  all 
  of 
  whom 
  must 
  have 
  

  

  