an indiana university alumni convention convened in january 1883 in order to promote interests of the university. the most immediate success of this convention was the passage of a bill by the 1883 legislature giving a tax of one-half cent on each $100 of appraised value in order to create an endowment for the university. this tax was scheduled to last for thirteen years; at its enactment, it was estimated to produce over a half a million dollars.