University of Virginia Library

MILITARY PROPERTY BOND

The bonding agreements entered into with the Department of the Army in 1948 and in 1951 and
the revised requirements of 1954 having been reviewed, the Board resolved as follows

WHEREAS, The Rector and Visitors of the University of Virginia by resolution dated 9 July
1948 bound itself to the extent of $100,000 to the United States Government at the time of
establishment of a Transportation Reserve Officers Training Corps, and

WHEREAS, in 1951 a Signal Reserve Officers Training Corps, and an Air Reserve Officers
Training Corps were established and the value of the military property furnished to the University
of Virginia for the use of the three ROTC units was substantially increased, and

WHEREAS, The Rector and Visitors of the University of Virginia by resolution dated 8 June
1951, bound itself to the extent of $225,000 to the United States Government as required, and

WHEREAS, Section 47 of the National Defense Act was amended in 1954, reducing the amount
of bond which ROTC institutions must furnish to a maximum of $25,000.

NOW, THEREFORE, KNOW ALL MEN BY THESE PRESENTS: That said The Rector and Visitors of the
University of Virginia hereby cancels the previous bond in the amount of $225,000 and in lieu
thereof is held and firmly bound unto the United States of America in the just and full sum of
twenty-five thousand dollars ($25,000) lawful money of the United States, for which payment, well
and truly to be made, it binds itself, its successors and assigns, firmly by these presents.

THE CONDITION OF THIS OBLIGATION IS SUCH that if the above-bounden The Rector and Visitors of
the University of Virginia shall take good care of the property covered by this bond and shall
when required by the Secretary of the Army, duly return the same in good order to him, or to such
persons as he may designate to receive the same, within thirty (30) days from the receipt of
notice so to do, except uniforms, expendable articles, supplies expended in operation, maintenance
and instruction, such property as has been worn out in the service for which it was intended,
and/or property lost or destroyed without negligence of said The Rector and Visitors of the
University of Virginia, or its agents, including students under its jurisdiction, then this
obligation to be void and of no effect, otherwise to be and remain in full force and virtue.

It was, thereupon,

RESOLVED, that Colgate W. Darden, Jr., President of The Rector and Visitors of the University
of Virginia, be and he is hereby authorized and requested to execute said bond in the name and
on behalf of said The Rector and Visitors of the University of Virginia, and that Francis L.
Berkeley, Jr., Secretary of The Rector and Visitors of the University of Virginia, be and he is
hereby authorized and requested to affix the corporate seal of said corporation to said bond,
attesting the same and delivering the said bond to the Judge Advocate of the United States Army.