>> On the following site...
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> Establishing.

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>>> On the following site...
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> A speedy reply. Thanks!
There might be an added nuance, since the passage goes on to speak of
vesting the library property in successive holders of public offices.
OneLook COED gives this for "settle": "9 (settle something on) give
money or property to (someone) through a deed of settlement or a
will." So the Act could have been one to settle the property, and
impose the attendant duties, on the designated functionaries.