The University of Arkansas was created through the Morrill Act of 1862 which provided means for states to establish universities for the purpose of teaching agricultural and mechanical arts. In 1871, Arkansas passed legislation to enable the realization of this act and created Arkansas Industrial University. The name changed to the University of Arkansas in 1899. The act of 1871 called for the creation of a Board of Trustees consisting of the State Superintendent of Public Instruction as ex-officio president and ten members, one from each judicial circuit, elected by the state legislature. During 1871, cities bid for the location of the university through the sale of bonds. Fayetteville won the bid, and a 160 acre farm was bought for $12,000 from William McIlroy for the permanent location of the university. The university opened on January 22, 1872, and eight students, all from Fayetteville, showed up to register for classes. The students began attending classes in a wooden building, which has long been gone. It was not until 1873 that a contract was awarded to Oliver and Mayes to construct the first permanent building, known today as Old Main. It was completed in 1875 and for many years was used not only for classrooms but also for dormitories, library, museum, bookstore, chapel, gymnasium, and office space. In addition to the required agricultural and mechanical studies, the university also taught classics and military tactics. Some students were not prepared to enter as college freshman and took classes in the Preparatory Department before entering university level classes. In addition there was the Normal Department for the education of teachers. Tuition for the normal department was free to those willing to commit to teach for two years. The first bachelor’s degree was awarded in 1876.

The Board of Trustees had three major reorganizations during this time period, appointing all new members each time. In 1874, the General Assembly revoked the authority of the Board and established a new Board of reduced size, consisting of the Governor, the President of the university and seven other members. The Board was reorganized a second time by the General Assembly in 1883. The new Board consisted of the Governor, the State Superintendent of Public Instruction, the President of the university and six other members, one member from each Congressional District. Members were appointed by the Governor. The General Assembly reorganized the Board for a third time with an act in 1887. The new Board consisted of seven members: the Governor and one member from each congressional district.