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, but 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 "Mary Washington College of the University of Virginia
Dormitory Revenue 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: