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Board of Visitors minutes
February 9, 2007

 
RESOLUTIONS ADOPTED BY THE BOARD OF VISITORS
 
SUBJECT TO THE APPROVAL OF THE BOARD OF VISITORS
 
APPROVAL OF THE MINUTES OF THE SEPTEMBER 29-30, 2006 MEETING OF THE BOARD OF VISITORS
 
RECTOR REMARKS
 
RESOLUTION FOR ADDITIONS TO THE AGENDA
 
INTRODUCTION OF THE 2006-2007 MARSHALL SCHOLAR
 
THE CROCKETT AWARD
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CENTENNIAL OF THE COLONNADE CLUB
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THE PRESIDENT REPORT
 
NON-VOTING FACULTY MEMBER OF THE BOARD
 
EXECUTIVE SESSION
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PROFESSORSHIPS AND NAMINGS
 
EXECUTIVE SESSION CONTINUED
 
COMMITTEE BUSINESS
 
FINAL SESSION
 
DEMOLITION OF 409 VALLEY ROAD, 411 VALLEY ROAD, 503 VALLEY ROAD AND 1512 JEFFERSON PARK AVENUE
 
DEMOLITION OF COPELEY GAS HOUSE
 
APPROVAL OF A PERMANENT EASEMENT FOR RELOCATION OF OVERHEAD ELECTRICAL WIRES FOR RUFFIN HALL (DOMINION VIRGINIA POWER)
 
APPROVAL OF PROPERTY RESTRICTION FOR GILMER HALL LABORATORY SPACE
 
APPROVAL OF PROPERTY RESTRICTION FOR BIOMEDICAL RESEARCH BUILDING (MR-5) LABORATORY SPACE
 
APPROVAL OF STUDENT MEMORIAL PLAQUE AT THE UNIVERSITY OF VIRGINIA
 
APPROVAL TO REQUEST PERMANENT EASEMENTS FOR THE UNIVERSITY OF VIRGINIA ON JEFFERSON PARK AVENUE IN THE CITY OF CHARLOTTESVILLE
 
APPROVAL OF A PERMANENT EASEMENT FOR RELOCATION OF OVERHEAD ELECTRICAL WIRES FOR THE SOUTH LAWN PROJECT (DOMINION VIRGINIA POWER)
 
APPROVAL OF PERMANENT EASEMENTS FOR ACCESS TO EXISTING PUBLIC UTILITIES AND A RELOCATED BUS STOP (CITY OF CHARLOTTESVILLE)
 
APPROVAL TO ESTABLISH A NEW DEGREE PROGRAM: MASTER OF SCIENCE IN COMMERCE FINANCIAL SERVICES/MARKETING AND MANAGEMENT IN THE MCINTIRE SCHOOL OF COMMERCE
 
APPROVAL TO CHANGE THE NAME OF THE MASTER OF SCIENCE IN HEALTH EVALUATION SCIENCES DEGREE PROGRAM TO THE MASTER OF SCIENCE IN CLINICAL RESEARCH IN THE SCHOOL OF MEDICINE
 
APPROVAL TO CHANGE THE NAME OF THE DEPARTMENT OF CIVIL ENGINEERING TO THE DEPARTMENT OF CIVIL AND ENVIRONMENTAL ENGINEERING IN THE SCHOOL OF ENGINEERING AND APPLIED SCIENCE
 
APPROVAL OF TEXTBOOK POLICIES AND PROCEDURES
 
APPROVAL OF NEW LEVELS FOR LECTURESHIP AND LIBRARY FUNDS ENDOWMENT AND FOR A CHANGE OF NAME IN THE LIBRARIES
 
BUDGET AMENDMENTS AND CAPITAL PROJECT SCOPE CHANGE FOR THE UNIVERSITY OF VIRGINIA
 
AMEND THE COMMERCIAL PAPER PROGRAM TO CONFORM WITH THE RESTRUCTURING ACT
 
APPROVAL OF WTJU 2005-06 ANNUAL REPORT
 
APPROVAL OF CHANGE IN THE NAME OF THE DEPARTMENT OF SOCIAL AND BEHAVIORAL SCIENCE AT THE UNIVERSITY OF VIRGINIA COLLEGE AT WISE TO THE DEPARTMENT OF SOCIAL SCIENCE
 
APPROVAL OF A MAJOR IN MUSIC AT THE UNIVERSITY OF VIRGINIA COLLEGE AT WISE
 
APPROVAL OF BIOCHEMISTRY MAJOR AT THE UNIVERSITY OF VIRGINIA COLLEGE AT WISE
 
APPROVAL OF CHANGE IN THE NAME OF THE COLLEGE MAJOR TO THE INTERDISCIPLINARY STUDIES MAJOR AT THE UNIVERSITY OF VIRGINIA COLLEGE AT WISE
 
APPROVAL OF 2008-14 SIX YEAR CAPITAL OUTLAY PLAN
 
APPROVAL OF ACQUISITION OF ADVANCED RESEARCH AND TECHNOLOGY (A.R.T.) LIFE SCIENCES ANNEX
 
APPROVAL OF PROJECT BUDGET INCREASES IN EXCESS OF 10 PERCENT AND PROJECT SCOPE DECREASE IN EXCESS OF 10 PERCENT
 
APPROVAL OF STUDENT HOUSING RATES FOR 2007-2008
 
MOUNTAIN LAKE BIOLOGICAL STATION RATES/NEW DAILY RATES
 
APPROVAL OF 2007-2008 TUITION AND FEES FOR CERTAIN PROGRAMS
 
APPROVAL OF FINANCIAL PLANS FOR CAPITAL PROJECTS IN THE FIRST BIENNIUM OF THE PROPOSED SIX YEAR CAPITAL PLAN (2008-2014)
 
POLICY ON LEADERSHIP IN ENERGY AND ENVIRONMENTAL DESIGN (LEED)CERTIFICATION FOR NEW BUILDINGS AND MAJOR RENOVATIONS
 
ESTABLISHMENT OF A DIALYSIS FACILITY IN ALTAVISTA AND JOINT VENTURE
 
TRANSFER OF REAL ESTATE FROM THE UNIVERSITY OF VIRGINIA TO THE UNIVERSITY OF VIRGINIA FOUNDATION FOR CONSTRUCTION OF THE NORTH PARKING GARAGE
 
APPROVAL OF INTENT TO ISSUE TAX EXEMPT DEBT
 
ESTABLISHING THE GROUNDS IMPROVEMENT FUND
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APPROVAL OF REVISIONS TO THE BYLAWS OF THE UNIVERSITY OF VIRGINIA COLLEGE AT WISE BOARD
 
APPROVING CHANGES TO THE PAVILION ASSIGNMENT POLICY
 
MEMORIAL TABLET TO BUILDERS OF THE UNIVERSITY
 
APPOINTMENT OF NON-VOTING STUDENT MEMBER TO THE BOARD OF VISITORS
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REPORT ON ACTIONS OF THE EXECUTIVE COMMITTEE
 
MEMORIAL RESOLUTION ON RAY C. HUNT, JR.
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FACULTY PERSONNEL ACTIONS
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THE UNIVERSITY OF VIRGINIA'S COLLEGE AT WISE
 
ADDENDUM TO THE OFFICIAL MINUTES OF THE MEETING OF THE BOARD OF VISITORS OF THE UNIVERSITY OF VIRGINIA
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RESOLUTIONS NOT REQUIRING ACTION BY THE FULL BOARD
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ATTACHMENT A (TEXTBOOK POLICIES AND PROCEDURES)
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ATTACHMENT B (COMMERCIAL PAPER GENERAL REVENUE PLEDGE NOTES)
 
AMENDED AND RESTATED RESOLUTION ADOPTED ON FEBRUARY __, 2007 THE RECTOR AND VISITORS OF THE UNIVERSITY OF VIRGINIA COMMERCIAL PAPER GENERAL REVENUE PLEDGE NOTES SERIES A (TAX-EXEMPT) and SERIES B (TAXABLE) _____________________ TABLE OF CONTENTS _____________________
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[resolution]
 
RECITALS
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ARTICLE I DEFINITIONS
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ARTICLE II AUTHORIZATION, FORM, EXECUTION, DELIVERY, REGISTRATION AND PAYMENT OF THE NOTES
 
ARTICLE III [RESERVED]
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ARTICLE IV CUSTODY AND APPLICATION OF PROCEEDS OF THE NOTES
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ARTICLE V REVENUES AND FUNDS
 
Section 5.1 Debt Service Fund.
 
Section 5.2 Payments to Noteholders.
 
Section 5.3 Pledge of Funds and Accounts.
 
Section 5.4 Moneys Held in Trust.
 
Section 5.5 Cancellation of the Notes Upon Payment.
 
Section 5.6 Investment of Moneys.
 
Section 5.7 No Risk to Issuing and Paying Agent Funds.
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ARTICLE VI PARTICULAR COVENANTS
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ARTICLE VII EVENTS OF DEFAULT AND REMEDIES
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ARTICLE VIII EXECUTION OF INSTRUMENTS BY NOTEHOLDERS AND PROOF OF OWNERSHIP OF THE NOTES
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ARTICLE IX SUPPLEMENTAL RESOLUTIONS
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ARTICLE X DEFEASANCE
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ARTICLE XI MISCELLANEOUS PROVISIONS
 
EXHIBIT A
 
EXHIBIT B REQUISITION VOUCHER
 
EXHIBIT C FORM OF PROGRAM ORDER
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ATTACHMENT C RESOLUTIONS FROM THE MEETING OF THE BUILDINGS AND GROUNDS COMMITTEE DECEMBER 11, 2006
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ATTACHMENT D RESOLUTIONS FROM THE MEETING OF THE MEDICAL CENTER OPERATING BOARD DECEMBER 11, 2006
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ATTACHMENT E RESOLUTIONS FROM THE MEETING OF THE MEDICAL CENTER OPERATING BOARD FEBRUARY 8, 2007

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AMENDED AND RESTATED RESOLUTION

ADOPTED ON FEBRUARY __, 2007

THE RECTOR AND VISITORS OF THE
UNIVERSITY OF VIRGINIA
COMMERCIAL PAPER GENERAL REVENUE PLEDGE NOTES
SERIES A (TAX-EXEMPT) and SERIES B (TAXABLE)

_____________________
TABLE OF CONTENTS
_____________________

                                     
Page 
ARTICLE I
DEFINITIONS 
Section 1.1   Definitions.................................................................................................  2 
Section 1.2  Rules of Construction/Use of Words and Phrases...........................................  9 
ARTICLE II
AUTHORIZATION, FORM, EXECUTION, DELIVERY,
REGISTRATION AND PAYMENT OF THE NOTES  
Section 2.1  Authorized Indebtedness; Authorization of the Notes; Establishment of
Programs....................................................................................................... 		 9 
Section 2.2  Details of the Notes..........................................................................................  9 
Section 2.3  Conditions Precedent to Delivery of Notes....................................................  12 
Section 2.4  Execution of the Notes...................................................................................  13 
Section 2.5  Transfer of the Notes.....................................................................................  14 
Section 2.6  Exchange of the Notes...................................................................................  14 
Section 2.7  Note Register; Notices; Persons Treated as Owners......................................  14 
Section 2.8   Temporary Notes...........................................................................................  14 
Section 2.9   Notes Mutilated, Lost, Destroyed or Stolen...................................................  15 
Section 2.10  The Establishment of New Programs. ...........................................................  15 
Section 2.11  Book Entry Provisions...................................................................................  16  
Section 2.12  Liquidity Facility...........................................................................................  18 
Section 2.13  Payment of Maturing Notes...........................................................................  19 
ARTICLE III
[RESERVED]  

McGuireWoods LLP Draft of February 26, 2007

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ARTICLE IV
CUSTODY AND APPLICATION OF PROCEEDS OF THE NOTES  
Section 4.1  Custody and Application of Proceeds of the Notes.......................................  20 
Section 4.2   Construction Fund..........................................................................................  20 
Section 4.3  Items of Cost of the Projects..........................................................................  21 
Section 4.4  Payments from Construction Fund................................................................  21 
Section 4.5   Disposition of Balance in Construction Fund................................................  22  
ARTICLE V
REVENUES AND FUNDS 
Section 5.1  Debt Service Fund..........................................................................................  22 
Section 5.2  Payments to Noteholders...............................................................................  23 
Section 5.3  Pledge of Funds and Accounts......................................................................  23 
Section 5.4  Moneys Held in Trust....................................................................................  23 
Section 5.5  Cancellation of the Notes Upon Payment......................................................  23  
Section 5.6  Investment of Moneys....................................................................................  23 
Section 5.7   No Risk to Issuing and Paying Agent Funds.................................................  24 
ARTICLE VI
PARTICULAR COVENANTS 
Section 6.1  Payment of Principal and Interest; Pledge of Pledged Revenues..................  24 
Section 6.2  Reserved.......................................................................................................  24 
Section 6.3  Additional Indebtedness and Encumbrances.................................................  25 
Section 6.4  Disposition of Assets.....................................................................................  26 
Section 6.5  Insurance........................................................................................................  27  
Section 6.6   Rights of Noteholders Not to Be Impaired....................................................  27 
Section 6.7  Further Instruments and Actions....................................................................  27 
Section 6.8  Accurate Records and Accounts....................................................................  27 
Section 6.9   Recognized Accounting Principles................................................................  27 
Section 6.10   Tax Covenants..............................................................................................  27 
ARTICLE VII
EVENTS OF DEFAULT AND REMEDIES 
Section 7.1  Events of Default...........................................................................................  28 
Section 7.2   Remedies........................................................................................................  29  
Section 7.3   Pro Rata Application of Funds.......................................................................  30 
Section 7.4  Effect of Discontinuance of Proceedings.......................................................  31 
Section 7.5   Proceedings for Equal Benefit of All Noteholders........................................  31  
Section 7.6  No Remedy Exclusive....................................................................................  31 
Section 7.7  No Delay or Omission Construed to Be a Waiver.........................................  31 

McGuireWoods LLP Draft of February 26, 2007

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ARTICLE VIII
EXECUTION OF INSTRUMENTS BY NOTEHOLDERS
AND PROOF OF OWNERSHIP OF THE NOTES 
Section 8.1   Execution of Instruments; Proof of Ownership.............................................  32 
ARTICLE IX
SUPPLEMENTAL RESOLUTIONS 
Section 9.1   Supplemental Resolutions..............................................................................  32 
Section 9.2   Modification of Resolution with Consent of Holders....................................  33 
Section 9.3   Supplemental Resolutions Part of this Resolution.........................................  35 
ARTICLE X
DEFEASANCE 
Section 10.1  Defeasance. If the University shall pay or provide for the payment of
the entire indebtedness on all Notes outstanding in any one or more of
the following ways:........................................................................................ 		 35 
Section 10.2  Liability of University Not Discharged.........................................................  36  
Section 10.3  Provision for Payment of Particular Notes....................................................  36 
ARTICLE XI
MISCELLANEOUS PROVISIONS  
Section 11.1  Effect of Covenants......................................................................................  37 
Section 11.2  Issuing and Paying Agent; Dealer..................................................................  37 
Section 11.3  Manner of Giving Notice...............................................................................  37 
Section 11.4  Alternative Notice..........................................................................................  38 
Section 11.5  Effect of Partial Invalidity.............................................................................  38 
Section 11.6  Governing Law..............................................................................................  38 
Section 11.7  [Reserved]......................................................................................................  38 
Section 11.8  Amendments to Resolution; Approval, Execution and Delivery of
Necessary and Appropriate Documents..................................................................... 		 39 
Section 11.9  Note Delivery.................................................................................................  39 
Section 11.10   Repeal of Inconsistent Provisions..................................................................  39  
Section 11.11   Issuing and Paying Agent Reliance...............................................................  39 
EXHIBIT A - Form of the Notes  
EXHIBIT B - Requisition Voucher  
EXHIBIT C - Form of Program Order  

McGuireWoods LLP Draft of February 26, 2007

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