University of Virginia Library

---

949

---

275

At a Called Meeting of the Board of Visitors held March
2nd 1871

Present B. Jonson Barbour, Rector, Samuel Watts, Th. J.
Pretlow, John B. Woods and W. E. M. Word.

The Board was called to order by the Rector and after discussing
the condition of the finances of the University,
adjourned till tomorrow morning at 9 oclock.

Friday March 3rd 1871

The Board met pursuant to adjournment.

Present the same members as on yesterday

An account amounting to $134.70 for repairs to the Parsonage
was laid by the Rector before the Board- the consideration
of which was on motion, postponed till the annual meeting
in June next.

Sundry recommendations and documents commendatory and in
reference to Major J. H. Whittlesey were presented by the Rector
to the Board, and ordered to be placed on file.

---

950

---

276

Resolved, unanimously, that the Rector be and is hereby
authorized to make the best possible arrangment for the funding
of the floating debt and for meeting such other debts as
are maturing- and to that end he is empowered to issue such
note or notes (based upon the resources and property of the
University) and payable at such times as he may deem most
advisable for a sum not exceeding $30,000.

Resolved, that the Proctor be instructed to prepare a
full statement of all the debts mentioned above (as a basis
for the negotiation of the proposed Loan) showing how they
were contracted and stating also the past and present relations
of the Income & Expenditure of the University together with
a reasonable estimate of its future Revenue & Expenditure.

The Board adjourned sine die.