An Act to Establish a College in the County of Berkshire, within this Commonwealth, by the Name of Williams College, Passed June 22, 1793
And be it further Enacted by the authority aforesaid , that the clear rents, issues & profits of all the Estate, real & personal, of which the said Corporation shall be seized or possessed, shall be appropriated to the Endowment of the said College, in such manner as shall most effectually promote Virtue & Piety, & the Knowledge of such of the Languages, & of the liberal Arts and Sciences as shall hereafter be directed, from time to time, by the said Corporation.
And be it further Enacted by the authority aforesaid , that the Honourable Tompson J. Skinner, Esquire, be & he is hereby authorized & empowered to fix the time & place forholding the first meeting of the said Corporation, of which he shall give notice, by an advertizement in the Stockbridge News-papers, at least fourteen days previous thereto.
And be it further Enacted by the authority aforesaid , that the Treasurer of the said College shall, before he enter upon the execution of the duties of his office, give bonds to the said Corporation, in such sums, & with such Sureties as they shall approve of, conditioned for the faithful discharge of the said office, & for rendering a just and true account of his doings therein when required-And that all the money, securities & other property of the President & Trustees of Williams College, together with all the books in which his accounts & proceedings as Treasurer were entered & kept that shall be in his hands at the expiration of his office shall, upon demand made upon him, his executors or administrators, be paid & delivered over to his Successor in that office. And all monies recovered by virtue of any suit at Law, upon such bond shall be paid over to the President & Trustees aforesaid, & subjected to the appropriation above directed in this Act.