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We had something similar in my home state of Iowa. A couple of brothers who owned a T-shirt shop in a tiny town next to the resort lake of Okoboji, Iowa dreamed up the University of Okoboji. The motto: In God We Trust, All Others Cash. It was an immediate hit.
Ownership was clear, however, and the brothers have had a blast thinking up more and more uses for their University. Click on the title to read about the Czech kingdom of Wallachia. Even George Bush had a passport from there!