CONSTITUTION. O 



tees shall organize by selecting one of their number as President of the 

 Board, and shall appoint a Secretarj- to keep the record of their proceed- 

 ings and perform siich other duties as they may require. 



Sec. 3. The Trustees shall have power to adopt such Bj'-Laws and 

 Rules as shall not be inconsistent with the provisions of this Constitu- 

 tion, for the management and regulation of the affairs and property in- 

 trusted to them and under their control; the times and manner of con- 

 ducting their meetings and of transacting business thereat; and the gov- 

 ernment and conduct of the persons appointed by them to fill any office 

 or position. They shall require from the Treasurer, Librarian, and 

 Director of the Museum, and from any person who may be appointed by 

 them to any position of trust, such bonds as in their opinion shall be a 

 security to the Society for the faithful discharge by him of his duties. 



Sec. 4. The Trustees shall select some bank in the City of San Fran- 

 cisco as a depository of the funds of the Academy, and shall cause all 

 moneys received 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 se- 

 lected by them as such depository may be changed whenever the Trustees 

 shall deem it expedient. No moneys shall be withdrawn from said bank 

 except i;pou the written order and direction of the Trustees, and no dis- 

 bursement shall be made except upon demands 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 suit- 

 able books of accounts to be kept, which shall at all times clearly show all 

 their transactions, receipts and disbursements. At the annual meeting 

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

 actions, during the preceding year, together with vouchers for all pay- 

 ments 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 iu 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 iu the name of the Corporation 

 i;pon such terms as they may deem advisable. 



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

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

 the amount, terms, and security, and the person to whom the loan is 



