Made possible by President Lincoln's signing of the Morrill Act in 1862, the University of California was founded in 1868 as the state's first land-grant university by inheriting certain assets and objectives of the private College of California and the public Agricultural, Mining, and Mechanical Arts College. Although this process is often incorrectly mistaken for a merger, the Organic Act created a "completely new institution" and did not merge the two precursor entities into the new university. The Organic Act states that the "University shall have for its design, to provide instruction and thorough and complete education in all departments of science, literature and art, industrial and professional pursuits, and general education, and also special courses of instruction in preparation for the professions".