University of Virginia Library

The word "Board" shall mean the Rector and Visitors of the University of
Virginia or, if said Board shall be abolished, the board or body succeeding
to the principal functions thereof.

The word "cost," as applied to the Project, shall embrace the cost of
construction and all obligations and expenses and all items of cost which
are set forth in Section 303 of this resolution.

The term "Current Expenses" shall mean the Board's reasonable and
necessary current expenses of maintenance, repair and operation of the
Project and shall include, without limiting the generality of the foregoing,
all ordinary and usual expenses of maintenance, repair and operation,
which may include expenses not annually recurring, premiums for
insurance, and any other expenses required or permitted to be paid by the
Board under the provisions of this resolution or by law, and shall not
include any reserves for extraordinary maintenance or repair, or any
allowance for depreciation, or any general administrative expenses of
the Institution, or any deposits or transfers to the credit of the special
fund hereinafter created in the State Treasury and designated "The Rector
and Visitors of the University of Virginia Library Building Fee Bonds
(Series 1965) Interest and Sinking Fund" (hereinafter sometimes called the
"Sinking Fund").

The term "fiscal year" shall mean the period commencing on the first
day of July and ending on the last day of June of the following year:

The term "full time student" shall mean each student registered at the
Institution for three courses of instruction during any semester of the
regular school session.