Michigan Compiled Laws, Chapter 322. State Lands § 322.369

Sec. 69. The whole amount of such notes and warrants which may be received under the provisions of the preceding section, shall not exceed the residue of the sum of 100,000 dollars, which shall remain after deducting the full amount of all sums which shall have been credited to the regents of the university, or to the university fund, on the principal of the “Michigan university state stock,” in pursuance of “An act authorizing the receipt of obligations of this state in payment of university lands,” approved February twenty-eighth, 1844, and of “An act for the relief of the university of Michigan,” approved March eleventh, 1844,  1 and 156,000 dollars in addition thereto.