| | 1 | Author: | University of Virginia
Board of Visitors | Requires cookie* | | | Title: | Board of Visitors minutes (1937) January 16, 1937  | | | | Published: | 1937 | | | | Subjects: | University of Virginia::Board of Visitors | University of Virginia Library, Text collection | UVA-LIB-Text | | | | Description: | Pursuant to call of the Rector, a Special Meeting of the board of Visitors of
The Rector and Visitors of the University of Virginia was held at the office of the President
at the University, at 11:00 o'clock A.M. on Saturday, January 16th, 1937. Under authority vested in me by Section 809 of the Code of Virginia (1930),
I hereby call a special meeting of the Board of Visitor of the University of Virginia
to be held in the President's Office at the University at eleven (11) A. M., on Saturday,
January 16th, 1937, for the following purposes E. I. Carruthers, being duly sworn, deposes and says. Pursuant to call of the Rector, dated January 1937, a special
meeting of the Board of Visitors of The Rector and Visitors of the University
of Virginia will be held at the office of the President at the University at
11.00 o'clock, A. M., on Saturday, January 16th, 1937, for the following purposes: As one of the members of the Board of Visitors of The Rector and
Visitors of the University of Virginia I hereby acknowledge due and timely
receipt of the attached notice of a special meeting of said Board of Visitors,
which is to be held on Saturday, January 16th, 1937, at 11.00 o'clock,
A. M., at the Office of the President at the University. The New Buildings Committee of the Board of Visitors met on this date at 11
o'clock in the office of the President of the University to receive bids, in accordance
with their advertisement therefor, for construction of the foundation of the New Library
Building. The New Buildings Committee met at the Office of President Newcomb on this
date at 11 o'clock, A. M., to receive and open the bids on the new Library Building pursuant
to advertisement therefor. NUMBER Sealed proposals will be received by the Board of Visitors of The Rector
and Visitors of the University of Virginia, on January 29th, 1937, at eleven
o'clock A. M., in the Office of the President, at the University of Virginia, Charlottesville,
Virginia, for the purchase of $523,000.00 Library Revenue Bonds of the
Rector and Visitors of the University of Virginia, authorized pursuant to Chapter
49 of the Acts of the Extra Session of 1933, of the General Assembly of Virginia,
as amended, and by virtue of a resolution of the Board of Visitors adopted January
16, 1937, to which act and resolution prospective bidders are hereby referred.
The proceeds of said bonds, together with a proposed grant by the Federal Emergency
Administration of Public Works, estimated at approximately $427,909.00, will be
applied to financing the cost of the construction and equipment of a new Library
Building, (hereinafter referred to as the "project"), to house the general library
of the University. On December 27, 1935, we received in the Philip F. duPont Trust
No. 1-28-B, 381 45/55 shares General Motors Corporation Common stock as a
dividend on 21000 shares duPont Common stock held in that account. The
general rule is that dividends of this nature constitute income which is
properly distributable to the beneficiaries of a trust. Acting on the
theory that the general rule applied in this instance, we communicated with
you for advise as to whether you desired to have the General Motors stock
distributed to you or whether you preferred having us sell the stock and
distribute the proceeds thereform. | | | Similar Items: | Find |
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