On the second Thursday of June after the passage of this act, the board of trustees who are hereby appointed, shall meet at Harrisburg, and proceed to the organization of the institution, and selection of the most eligible site within the commonwealth of Pennsylvania for its location, where they shall purchase or obtain by gift, grant or otherwise, a tract of land containing at least two hundred acres, and not exceeding two thousand acres, upon which they shall procure such improvements and alterations to be made, as will make it an institution properly adapted to the instruction of youth in the art of farming, according to the meaning and design of this act; they shall select and choose a principal for the said institution, who with such scientific attainments and capacity, to teach as the board shall deem necessary, shall be a good practical farmer; he with such other persons as shall from time to time be employed as teachers, shall compose the faculty, under whose control the immediate management of the institution, and the instruction of all the youth committed to its care, shall be subject however to the revision and all orders of the board of trustees; there shall be a quarterly meeting of the board of trustees at the institution, and as much oftener as shall be necessary, and they shall determine; the board shall have power to pass all such by-laws, ordinances and rules as the good government of the institution shall require, and therein to prescribe what shall be taught to and what labor performed by the pupils, and generally to do and perform all such administrative acts as are usually performed by and within the appropriate duty of a board of trustees, and shall by a secretary of their appointment, keep a minute of the proceedings and action of the board.