University of Virginia Library

1819-20.

The only legislation in 1819-20 was Chapter XIII, Entitled,
"An Act authorizing the Visitors of the University of Virginia to
borrow money for finishing the buildings thereof". Passed February
24, 1820; See p. 14 of Acts, as follows:

"1. Be it enacted by the General Assembly, That the visitors
of the University of Virginia, shall be, and they are hereby authorized,
for the purpose of finishing the buildings thereof, to borrow
from any of the banks of this commonwealth, or from any other
person, body politic or corporate, any sum of money not exceeding
sixty thousand dollars, at a rate of interest not exceeding six per
centum per annum, and to pledge for the payment of the interest,
and redemption of the principal, of the money so borrowed, any
part of the annual appropriation of fifteen thousand dollars heretofore
made by law to the said university: Provided, That the
aforesaid pledge shall not extend to the commonwealth, or beyond
the aforesaid annual appropriation of fifteen thousand dollars.

2. This act shall commence and be in force from and after the
passing thereof." p. 14 of Acts of 1819-20. Also appears as
Chap. 29 of Supt. to Rev. Code 1819, p. 44.