Section 1st. Be it ordained by the City Council of the City of , that , , , and such others as may be associated with them, are hereby incorporated, to be known by the name of the Seventies’ Library and Institute Association, with perpetual succession, and shall have all corporate powers to sue and be sued, to plead and be impleaded, to defend and be defended, to purchase, hold, sell, or lease estate real or personal to any amount, to have a common seal, which they may alter or renew at pleasure, and shall have, exercise and enjoy, all powers, rights, & privileges which appertain to like corporate bodies.—

Section 2d. That the capital stock of said Association shall amount to $10.000 which may be increased to any amount by a vote of a majority of the Stockholders present, at a meeting called for that purpose by the President of the Association, who shall give at least one month’s thereof <​notice​> thereof; which capital stock shall be divided into shares of five dollars each.—

Section 3d That the Books of the Association shall be opened for subscription on the 20th. day of December A.D. 1844; and when two hundred dollars shall have been subscribed, the Stockholders shall elect a board of seven Trustees, who shall elect one of their number President of the Association, to hold their office during good behavior; said board of Trustees shall constitute the Law-making department of said Association, with full power and authority to make, ordain, establish, and execute all such laws and ordinances, as they my deem necessary for the benefit, government, and regulation of said Association, not repugnant to the Constitution of the or the Constitution of this .— [p. [1]]