 | Board of Visitors minutes February 12, 1966 |  |
DORMITORY LOAN
The President presented a proposal for a loan of not to exceed $500,000 from endowment funds to supplement the $2,400,000 bond issue to make possible the construction of Observatory Houses to accommodate 600 students.
The following resolution was adopted:
- RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that the Comptroller be and he is hereby authorized to advance from endowment funds a loan in an amount not to exceed $500,000 at an interest rate of 4-1/2 per cent for the purpose of supplementing the proceeds of the $2,400,000 bond issue to provide sufficient funds to construct the Observatory Houses to accommodate 600 students.
| Board of Visitors minutes February 12, 1966 | |