The statue of Minerva, the work of Arturo Martini, is made of bronze and placed atop a pedestal inside a pool of water. The statue stands in front of the Rector's Palace, the work of Marcello Piacentini. The Minerva was also in the university's logo; it has now been replaced by a cherub. The 'STUDIUM URBIS' was founded thanks to Pope Boniface VIII in 1303.