University of Virginia Library

The Board of Visitors of the University of Virginia met on this date at 10:00 a.m. in the Office
of the President of the University, at Charlottesville, with the following present: Rector Albert V.
Bryan; President Edgar F. Shannon, Jr.; and Visitors Blanton, Camp, Faulconer, Hobbs, Johnson, Kendig,
Lantor, Lewis, Martin, Montague, Rogers, Walker, and Williams. Absent: Visitors Cross, Fenwick, and
Wilkerson. Bursar Edgar E. Woodward was present throughout the discussion of Mary Washington College
matters. Comptroller Vincent Shea was present during the consideration of the comprehensive fee and
the two resolutions relating to the University Hall revenue bond issue.

The minutes of the meeting of 18 October 1963, previously distributed, were approved as
corrected.

ELECTIONS

The President proposed and the Board adopted the following resolution:

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
the following persons be and they are hereby elected to the faculty:

Mr. Charles O. Meiburg as Associate Professor of Business Administration, for five years,
effective 1 July 1964, at a session salary of $9,600 plus 20 per cent for summer work, or a total
salary of $11,520.

Mr. Robert H. Owens as Professor of Applied Mathematics in the School of Engineering and
Applied Science, effective 1 September 1964, at a session salary of $15,000.

Mr. Stanley E. Sobottka as Associate Professor of Physics, effective 1 January 1964, at a
session salary of $9,100, of which $8,800 is to be paid from VARC funds and $300 from local funds.

Mr. Howard J. Wood as Instructor in Astronomy, for one year, effective 1 September 1964, at a
session salary of $6,900.

RESCISSION OF ELECTION OF MR. HENRY A. HARBURY

The President proposed and the Board adopted the following resolution

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
the election of Mr. Henry A. Harbury as Robley Dunglison Professor of Biochemistry, effective
1 July 1964, as approved by the Board on 18 October 1963, be and it is hereby rescinded.

RE-ELECTIONS

The President proposed and the Board adopted the following resolution

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
the following persons be and they are hereby re-elected to the faculty

Mr. Benjamin B. Graves as Associate Professor of Commerce, effective 14 December 1963

Miss Ruth V. Moran as Assistant Professor of Nursing, for three years, effective 1 February
1964

LEAVES OF ABSENCE

The President proposed and the Board adopted the following resolution

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
the following faculty members be and they are hereby granted leave of absence

Mr. Francis Duke, Associate Professor of Modern Languages (French), for one year, effective
1 September 1964, without pay, to complete certain research projects in French literature which he
has under way

Mr. Emerson G. Spies, Professor of Law, for the period 1 February 1964 through 31 July 1964,
without pay, to become Visiting Professor of Law at Australian National University in Canberra.

SPECIAL SALARY ACTIONS

The President proposed and the Board adopted the following resolution

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
the following persons shall receive the salary indicated

Mr. Edward V. Mochel, Assistant Professor of Engineering Drawing and Coordinator of Engineering
in the School of General Studies, at a salary of $3,000, effective 1 January 1964.

Mr. Walter J. Wadlington, III, Associate Professor of Law, at an additional salary of $350, for
one semester, effective 1 February 1964, to serve as Acting Director of Admissions

RESIGNATIONS

The President announced the following resignations

Dr. E. Louise Payne, Instructor in Anesthesiology, effective 1 December 1963, to enter private
practice

Dr. Thomas N. Rucker, Assistant Professor of Radiology, effective 1 January 1964, to take a
position in radiology at the Cleveland Clinic, Cleveland, Ohio

Miss Margaret G. Tyson, Professor of Nursing and Dean of the School of Nursing, effective
1 August 1964, to accept a position on the faculty of the Department of Nursing Education at
Columbia University

APPOINTMENTS

The President announced the following appointments

Mr. W. Wade Bromwell as Director of Security, effective 1 December 1963

Dr. Alto E. Feller as Assistant Dean of the School of Medicine, for one year, effective 1 July
1963

Mr. Charles O. Meiburg as Associate Director of the Bureau of Population and Economic Research,
for five years, effective 1 July 1964

Mr. Robert H. Owens as Chairman of the Department of Applied Mathematics in the School of
Engineering and Applied Science, effective 1 September 1964

RESCISSION OF APPOINTMENT OF MR. HENRY A. HARBURY

The President announced that the appointment of Mr. Henry A. Harbury as Chairman of the
Department of Biochemistry, effective 1 July 1964, has been rescinded

SCHEDULE OF BOARD MEETINGS FOR 1964

The President proposed and the Board adopted the following resolution

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
the following dates for the 1964 meetings of the Board be and they are hereby approved

         

Saturday, 8 February 1964	Fredericksburg
Saturday, 18 April 1964	Charlottesville
Friday, 5 June 1964	Charlottesville
Friday, 16 October 1964	Charlottesville
Saturday, 12 December 1964	Charlottesville

The President also reminded the Board that preliminary meetings of the Board have been scheduled
for Friday, 17 April 1964, and Friday, 11 December 1964.

CALLED MEETING OF THE BOARD

The President proposed and the Board adopted the following resolution

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that a
meeting of the Board is hereby called for Thursday, 23 January 1964, in the Office of the State Treasurer
Room 101, Finance Building, Richmond, Virginia at 12:00 noon, Eastern Standard Time

FINANCIAL REPORT OF DEPARTMENT OF ATHLETICS

The President, on behalf of the Athletic Committee, proposed and the Board adopted the following
resolution

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that the
report of the Department of Athletics entitled "Report of Receipts and Disbursements, Intercollegiate
Athletics, For the Period July 1, 1962 to June 30, 1963" be and it is hereby approved for submission to
the Director of the Budget of the Commonwealth as required by law

ESTABLISHMENT OF A COMPREHENSIVE FEE

The President reported on the results of a study by the Comptroller of the fee structure of the
University. This study indicates the need for a comprehensive fee consisting of the total of all
University-wide fees now charged students in the College and the schools at Charlottesville. He
therefore proposed and the Board adopted the following resolution

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that,
effective 1 September 1963, a comprehensive fee be and it is hereby established in the amount of
$87.00 per student, the proceeds of which shall be allocated as set forth below

             

Athletics	$26.00
Student Health	30.00
Student Activities	7.00
University Union	14.00
Class Affiliation	4.00
Library Building	6.00
	$87.00, and

RESOLVED FURTHER that the adoption of a comprehensive fee shall not be construed to eliminate or
affect in any way special school fees now charged to students in a particular school or in a particular
group

RESOLUTION AUTHORIZING THE ISSUANCE OF FIELD HOUSE AND GYMNASIUM REVENUE BONDS

Mr. Hobbs made a motion, seconded by Mr. Lewis, that the following resolution be adopted

WHEREAS, by Article 2, Chapter 9, Title 23, Code of Virginia, 1950, as amended, the Board of
Visitors of the University of Virginia is declared to be a corporation under the style of the Rector
and Visitors of the University of Virginia (hereinafter sometimes called the "Board"), and is vested
with the supervision, management and control of the University of Virginia at Charlottesville,
Virginia, and

WHEREAS, by Chapter 3, Title 23, Code of Virginia, 1950, as amended (hereinafter sometimes
called the "Act"), the University of Virginia, an institution under the name and style of The Rector
and Visitors of the University of Virginia, at Charlottesville (hereinafter sometimes called the
"Institution"), is classified as an educational institution, is declared to be a public body and is
constituted a governmental instrumentality for the dissemination of education, and

WHEREAS, by virtue of the Act the Board, with the consent and approval of the Governor of the
State of Virginia, is authorized and empowered

WHEREAS, in order to provide adequate facilities for student activities and physical education
at the Institution, the Board has heretofore determined to construct and equip a field house and
gymnasium (said field house and gymnasium being known as University Hall and being hereinafter sometimes
called the "Project"), and

WHEREAS, the Board has established and does collect from each full time student enrolled at the
Institution a comprehensive fee, a portion of which fee is available to be pledged to pay the cost
of maintaining, repairing and operating the Project and to pay the principal of and the interest on
the bonds hereinafter authorized, and

WHEREAS, the Board has determined that a portion of the comprehensive fee will be part of the
revenues derived from the Project (such portion of the comprehensive fee being hereinafter sometimes
called the "Field House and Gymnasium Fee"), and

WHEREAS, by Chapter 642 of the Acts of Virginia of 1958, Chapter 610 of the Acts of Virginia of
1960 and Chapter 640 of the Acts of Virginia of 1962 there has been appropriated and reappropriated
by the General Assembly Two Million Ten Thousand Dollars ($2,010,000) to pay a part of the cost of
constructing and equipping the Project, and

WHEREAS, additional moneys to pay a part of the cost of constructing and equipping the Project
will be made available from contributions of alumni and friends of the Institution and certain other
moneys to be designated for the purpose, and

WHEREAS, the Board has proceeded with all practicable dispatch with the construction and
equipment of the Project from the appropriated and reappropriated funds, and

WHEREAS, the Board has estimated that the Project will be completed and placed in operation in
time for the fall semester of 1965, and

WHEREAS, for the purpose of paying the remaining part of the cost of the Project, the Board
has determined to issue field house and gymnasium revenue bonds of the Institution in the aggregate
principal amount of One Million Two Hundred Thousand Dollars ($1,200,000), the proceeds of such
amount of bonds, together with the appropriations, reappropriations and other moneys referred to
above, being estimated to be sufficient to pay the cost of the Project, now, therefore,

BE IT RESOLVED by the Rector and Visitors of the University of Virginia

ARTICLE I.

Definitions.

Section 101. In addition to words and terms elsewhere defined in this resolution, the following
words and terms as used in this resolution shall have the following meanings, unless some other
meaning is plainly intended

Section 102. Words of the masculine gender shall be deemed and construed to include correlative
words of the feminine and neuter genders. Unless the context shall otherwise indicate, the words
"bond", "coupon", "owner", "holder" and "person" shall include the plural as well as the singular
number, the word "person" shall include corporations and associations, including public bodies, as
well as natural persons, and the word "holder" or "bondholder" when used herein with respect to bonds
issued hereunder shall mean the holder of bonds at the time issued and outstanding hereunder

ARTICLE II.

Authorization, Form, Execution and Delivery of Bonds

Section 201. For the purpose of paying the remaining part of the cost of the Project, there
shall be issued field house and gymnasium revenue bonds of the Institution in the aggregate principal
amount of One Million Two Hundred Thousand Dollars ($1,200,000). The bonds shall be designated "The
Rector and Visitors of the University of Virginia Field House and Gymnasium Revenue Bonds (Series 1964)",
shall consist of 240 bonds of the denomination of $5,000 each, numbered 1 to 240, inclusive, shall be
dated as of the 1st day of February, 1964, shall be stated to mature (without right of prior redemption),
in numerical order, lowest numbers first, on the 1st day of August in the following years and in the
following amounts, respectively

                                     

Year of Maturity	Principal Amount
1966	$25,000
1967	30,000
1968	35,000
1969	40,000
1970	45,000
1971	50,000
1972	55,000
1973	60,000
1974	65,000
1975	$ 70,000
1976	75,000
1977	80,000
1978	85,000
1979	90,000
1980	95,000
1981	100,000
1982	100,000
1983	100,000

and shall bear interest from their date until their payment at a rate or rates not exceeding six per
centum (6%) per annum as shall hereafter be determined by the Board and by the Treasury Board, such
interest to the respective maturities of the bonds being payable semi-annually on the 1st days of
February and August in each year. Both the principal of and the interest on the bonds shall be payable
at the office of the State Treasurer in the City of Richmond, Virginia, in any coin or currency of
the United States of America which, on the respective dates of payment thereof, is legal tender for the
payment of public and private debts

Section 202. The bonds shall bear the facsimile signature of the Rector of the University of
Virginia and shall be signed by the Comptroller of the University of Virginia and by the State Treasurer
of the State of Virginia and shall be countersigned by the Comptroller of the State of Virginia, and
the official seal of The Rector and Visitors of the University of Virginia shall be impressed on the
bonds. The interest coupons to be attached thereto shall be executed with the facsimile signatures of
the Rector of the University of Virginia, the State Treasurer of the State of Virginia and the Comptroller
of the State of Virginia. The bonds and coupons shall be, respectively, in substantially the following
forms

(Form of Bonds)

No

$5,000

United States of America
State of Virginia

THE RECTOR AND VISITORS OF THE UNIVERSITY OF VIRGINIA

FIELD HOUSE AND GYMNASIUM REVENUE BONDS (SERIES 1964)

The Rector and Visitors of the University of Virginia, for value received, hereby promises to
pay, solely from the special fund provided therefor as hereinafter set forth, to the bearer on the
1st day of August, 19..., upon the presentation and surrender hereof, the principal sum of

FIVE THOUSAND DOLLARS

and to pay, solely from said special fund, interest thereon from the date hereof at the rate of
.................................... per centum (.....................%) per annum until payment of such
principal sum, such interest to the maturity hereof being payable semi-annually on the 1st days of
February and August in each year upon the presentation and surrender of the attached coupons representing
such interest as the same respectively become due. Both the principal of and the interest on this bond
are payable at the office of the State Treasurer in the City of Richmond, Virginia, in any coin or
currency of the United States of America which, on the respective dates of payment thereof, is legal
tender for the payment of public and private debts

This bond shall not be deemed to constitute a debt of the State of Virginia or a pledge of the
faith and credit of the State, but shall be payable as to both principal and interest solely from the
special fund provided therefor as hereinafter set forth

This bond is one of a duly authorized issue of $1,200,000 field house and gymnasium revenue bonds
(hereinafter called the "bonds"), known as "The Rector and Visitors of the University of Virginia Field
House and Gymnasium Revenue Bonds (Series 1964)", consisting of bonds maturing in annual instalments
on the 1st day of August, in the years 1966 to 1983, inclusive, and issued for the purpose of paying
the cost of constructing and equipping a field house and gymnasium at the University of Virginia,
Charlottesville, Virginia (said field house and gymnasium being herein called the "Project"). The proceeds
of the bonds, together with appropriations and reappropriations by the General Assembly of the
State of Virginia and certain other moneys to be made available, are estimated to be sufficient to pay
the cost of the Project

All of the bonds are issued under and pursuant to a resolution (herein called the "Resolution")
duly adopted by the Rector and Visitors of the University of Virginia (herein sometimes called the
"Board") on December 14, 1963. Reference is hereby made to the Resolution for the provisions, among
others, with respect to the custody and application of the proceeds of the bonds, the collection
and disposition of revenues, the fund charged with and pledged to the payment of the interest on
and the principal of the bonds, the nature and extent of the security, the rights, duties and
obligations of the Board and the rights of the holders of the bonds, and, by the acceptance of this
bond, the holder hereof assents to all of the provisions of the Resolution.

This bond is issued and the Resolution was adopted under and pursuant to the Constitution and
laws of the State of Virginia, particularly Chapter 3, Title 23, Code of Virginia, 1950, as amended.
The Resolution provides for the fixing, revising, charging and collecting by the Board of fees,
rents and charges, including a field house and gymnasium fee on each full time student enrolled at
the University of Virginia, for or in connection with the use, occupation or services of the Project
in order that such fees, rents and charges will be sufficient to provide funds to pay the cost of
maintaining, repairing and operating the Project and to pay the principal of and the interest on the
bonds as the same shall become due and payable. The Resolution also provides for the deposit of a
sufficient amount of such fees, rents and charges over and above such cost of maintenance, repair
and operation, to the credit of a special fund designated "The Rector and Visitors of the University
of Virginia Field House and Gymnasium Revenue Bonds (Series 1964) Interest and Sinking Fund", to pay
the principal of and the interest on the bonds as the same shall become due and payable, and said
special fund is pledged to and charged with the payment of such principal and interest.

As declared by said Chapter 3, this bond shall be fully negotiable within the meaning and for
all the purposes of Chapter 10, Title 6, Code of Virginia, 1950, as amended.

All acts, conditions and things required by the Constitution and laws of the State of Virginia
and the rules and regulations of the Board to happen, exist and be performed precedent to and in the
issuance of this bond have happened, exist and have been performed as so required

IN WITNESS WHEREOF, The Rector and Visitors of the University of Virginia have caused this bond
to be issued in its name, to bear the facsimile signature of the Rector of the University of
Virginia, to be signed by the Comptroller of said University and by the State Treasurer and to be
countersigned by the Comptroller of the State of Virginia, the official seal of The Rector and
Visitors of the University of Virginia to be impressed hereon, and the attached interest coupons
to be executed with the facsimile signatures of said Rector, State Treasurer and Comptroller of the
State of Virginia, all as of the 1st day of February, 1964.

...............................
Comptroller of the
University of Virginia

...............................
State Treasurer of the
State of Virginia

....................................
Rector of the
University of Virginia

Countersigned

....................................
Comptroller of the
State of Virginia

(Form of Coupons)

No. ........

$................

On ........................... 1, 19...,

The Rector and Visitors of the University of Virginia will pay to bearer at the office of the
State Treasurer in the City of Richmond, Virginia, upon presentation and surrender hereof, the sum
of .................................. Dollars in any coin or currency of the United States of
America which at the time of payment is legal tender for the payment of public and private debts,
solely from the special fund referred to in, and for the semi-annual interest then due upon, its
Field House and Gymnasium Revenue Bond (Series 1964), dated as of February 1, 1964, No.........

...............................
Rector of the
University of Virginia

............................
State Treasurer of the
State of Virginia

............................
Comptroller of the
State of Virginia

Section 203. The proceeds (including accrued interest) of the bonds shall be paid into the
State Treasury and deposited to the credit of the special fund hereinafter created and designated
"The Rector and Visitors of the University of Virginia Field House and Gymnasium Revenue Bonds
(Series 1964) Construction Fund" (hereinafter sometimes called the "Construction Fund")

Section 204. In case any bond issued hereunder shall become mutilated or be destroyed or lost,
the Board shall cause to be executed a new bond of like date, number and tenor in exchange and
substitution for and upon the cancellation of such mutilated bond and its interest coupons, if any,
or in lieu of and in substitution for such bond and its coupons, if any, destroyed or lost, upon
the holder's paying the reasonable expenses and charges of the Board in connection therewith and, in
the case of a bond destroyed or lost, his filing with the Board evidence satisfactory to the Board
that such bond and coupons, if any, were destroyed or lost, and of his ownership thereof, and
furnishing the Board with indemnity satisfactory to the Board

ARTICLE III

Custody and Application of Proceeds of Bonds

Section 301. A special fund is hereby created in the State Treasury and designated "The Rector
and Visitors of the University of Virginia Field House and Gymnasium Revenue Bonds (Series 1964)
Construction Fund" (herein sometimes called the "Construction Fund"), to the credit of which there
shall be deposited the proceeds of the bonds required to be so deposited by Section 203 of this

resolution. The moneys in the Construction Fund shall be held in trust and applied to the payment
of the cost of the Project and, pending such application, shall be subject to a lien and charge in
favor of the holders of the bonds issued and outstanding under this resolution and for the future
security of such holders until paid out or transferred as herein provided

Section 302. Payment of the cost of the Project shall be made from the Construction Fund as
provided by law

Section 303. For the purposes of this resolution the cost of the Project may include, without
intending thereby to limit or restrict or to extend any proper definition of such cost under any
applicable laws or this resolution, the following

Section 304. When the Project shall have been completed, as evidenced by a certificate signed
by the President or the Comptroller of the Institution and filed with the Secretary to the Board,
any balance in the Construction. Fund not deemed by the Board to be necessary to be reserved and so
reserved by it for the payment of any remaining part of the cost of the Project shall be transferred
to the credit of the Sinking Fund

ARTICLE IV

Revenues and Funds

Section 401. The Board covenants that it will at all times fix, charge and collect fees, rents
and charges for or in connection with the use, occupation or services of the Project, and that from
time to time and as often as it shall appear to be necessary it will revise such fees, rents and
charges in order that such fees, rents and charges will at all times be sufficient to provide for the
payment of the Current Expenses and to provide for making deposits to the credit of the Sinking Fund
in each fiscal year under the provisions of Section 404 of this Article of an amount equal to one
hundred ten per centum (110%) of the principal and interest which will become due and payable on
August 1 of such fiscal year and of the interest which will become due and payable on February 1 of
such fiscal year

Section 402. The Board covenants that such fees, rents and charges shall include the Field
House and Gymnasium Fee payable by each full time student enrolled at the Institution in an amount
not less than $15.00 per student for the regular school session, comprising the fall and spring
semesters at the Institution. The Board does hereby adopt and establish the Field House and
Gymnasium Fee in said amount commencing with the regular school session beginning September, 1965

Section 403. A special fund is hereby created in the State Treasury and designated "The Rector
and Visitors of the University of Virginia Field House and Gymnasium Revenue Bonds (Series 1964)
Revenue Fund" (hereinafter sometimes called the "Revenue Fund"). The Board covenants that all fees,
rents, charges and other revenues derived from the operation or ownership of the Project will be
collected by the Board and deposited to the credit of the Revenue Fund. Payment of Current Expenses
shall be made from the Revenue Fund as provided by law.

Section 404. A special fund is hereby created in the State Treasury and designated "The Rector
and Visitors of the University of Virginia Field House and Gymnasium Revenue Bonds (Series 1964)
Interest and Sinking Fund" (herein sometimes called the "Sinking Fund"). The Board covenants that,
on or before the 20th day of July in each fiscal year, it will provide for the transfer from moneys
held for the credit of the Revenue Fund to the credit of the Sinking Fund of an amount equal to one
hundred ten per centum (110%) of the principal and interest which will become due and payable on
August 1 of such fiscal year and that, on or before the 20th day of January in each fiscal year, it
will provide for the transfer from moneys held for the credit of the Revenue Fund to the credit of the
Sinking Fund of an amount equal to one hundred ten per centum (110%) of the interest which will become
due and payable on February 1 of such fiscal year, provided, however, that if the amount so transferred
to the credit of the Sinking Fund in any July or January shall be less than the required amount, the
requirement therefor shall nevertheless be cumulative and the amount of any deficiency in any July or
January shall be added to the amount otherwise required to be transferred in each July or January
thereafter until such time as such deficiency shall have been made up, and provided, further, that when
the moneys held for the credit of the Sinking Fund shall equal the principal of the outstanding bonds
and the interest which will become due and payable thereon to their respective maturities, no further
transfer need be made to the credit of the Sinking Fund. The balance in the Revenue Fund, if any,
after making the transfer provided to be made on or before July 20 in any fiscal year under the provisions
of this Section shall be used for the purposes of the Institution as provided by law

Section 405. Subject to the provisions of this resolution, moneys held for the credit of the
Sinking Fund shall be held in trust and applied (a) to the payment of interest upon the bonds as
such interest becomes due and payable, or (b) to the payment of the principal of the bonds at their
respective maturities, and such moneys are hereby pledged to and charged with the payments mentioned
in this Section

Section 406. The moneys in the Revenue Fund and the Sinking Fund shall be held in trust and
applied as hereinabove provided and, pending such application, shall be subject to a lien and
charge in favor of the holders of the bonds issued and outstanding under this resolution and for the
further security of such holders until paid out or transferred as herein provided

Section 407. All bonds and interest coupons shall be cancelled upon their payment. Such bonds
and coupons may be cremated by the State Treasurer, who shall execute a certificate of cremation in
duplicate describing the bonds and coupons so cremated except that the numbers of the bonds to which
such coupons appertain may be omitted unless otherwise directed by the Board, and one executed
certificate shall be filed with the Comptroller of the Institution and the other executed certificate
shall be retained by the State Treasurer

ARTICLE V

Investment of Funds

Section 501. Moneys held for the credit of the Construction Fund shall, as nearly as may be
practicable, be invested and reinvested by the State Treasurer in securities which are defined as
legal investments for public funds or deposited and redeposited in interest bearing time deposits
and certificates of deposit of national banks located within the State of Virginia and of banks
organized pursuant to Chapter 2 (§ 6-5 et seq.) of Title 6, Code of Virginia, 1950, as amended, all
as provided in and subject to the terms, limitations and conditions of Sections 298, 299 of Title 2,
Chapter 17, Code of Virginia, 1950, as amended, which shall mature, or which shall be subject to
redemption or withdrawal by the holder or depositor thereof at the option of such holder or depositors,
not later than ninety (90) days after the date of such investment or deposit

Moneys held for the credit of the Sinking Fund shall, as nearly as may be practicable, be
invested and reinvested by the State Treasurer in securities which are defined as legal investments
for sinking funds in Section 297 of Title 2, Chapter 17, Code of Virginia, 1950, as amended, which
shall mature, or which shall be subject to redemption by the holder thereof at the option of such
holder, not later than August 1, 1983

Section 502. Obligations so purchased as an investment of moneys in any such Fund shall be
deemed at all times to be a part of such Fund, and the interest accruing thereon and any profit
realized from such investment shall be credited to such Fund, and any loss resulting from such
investment shall be charged to such Fund. The State Treasurer shall sell at the best price obtainable
or present for redemption any obligations so purchased whenever it shall be necessary so to do
in order to provide moneys to meet any payment or transfer from any such Fund. Neither the State
Treasurer not the Board shall be liable or responsible for any loss resulting from any such
investment

ARTICLE VI

Particular Covenants

Section 601. The Board covenants that it will promptly pay the principal of and the interest
on each and every bond issued under the provisions of this resolution at the place, on the dates
and in the manner provided herein and in said bonds and in the coupons appertaining thereto,
according to the true intent and meaning thereof. The principal and interest are payable solely
from the revenues derived from the ownership or operation of the Project, which revenues are hereby
pledged to the payment thereof in the manner and to the extent hereinabove particularly specified,
and nothing in the bonds or in this resolution shall be deemed to constitute the bonds a debt of the
State of Virginia or a pledge of the faith and credit of the State, nor shall the bonds ever be or
become a charge against the State of Virginia.

Section 602. The Board covenants that it will establish and enforce reasonable rules and
regulations governing the use of the Project and the operation thereof, that all compensation,
salaries, fees and wages paid by it in connection with the maintenance, repair and operation of the
Project will be reasonable, that it will maintain and operate the Project in an efficient and
economical manner, that, from the revenues of the Project, it will at all times maintain the same
in good repair and in sound operating condition and will make all necessary repairs, renewals and
replacements, that it will observe and perform all of the terms and conditions contained in the Act,
and that it will comply with all valid acts, rules, regulations, orders and directions of any
legislative, executive, administrative or judicial body applicable to the Project

Section 603. The Board covenants that it will not create or suffer to be created any lien or
charge upon the Project or any part thereof or upon the revenues therefrom ranking equally with or
prior to the lien and charge of the bonds secured hereby upon such revenues, and that, from such
revenues or other available funds, it will pay or cause to be discharged, or will make adequate
provision to satisfy and discharge, within sixty (60) days after the same shall accrue, all lawful
claims and demands for labor, material, supplies or other objects which, if unpaid, might by law
become a lien upon the Project or any part thereof or the revenues therefrom, provided, however, that
nothing in this Section contained shall require the Board to pay or cause to be discharged, or make
provision for, any such lien or charge so long as the validity thereof shall be contested in good
faith and by appropriate legal proceedings

Section 604. Notwithstanding any other provision of this resolution, nothing herein shall be
construed to prevent the Board from paying all or any part of the Current Expenses from any funds
available to the Board for such purpose, or from depositing any funds available to the Board for
such purpose in the Sinking Fund for the payment of the interest on or the principal of the bonds
issued under the provisions of this resolution

Section 605. The Board covenants that from and after the time when the contractors or any of
them engaged in constructing the Project or any part thereof shall cease to be responsible, pursuant
to the provisions of the respective contracts for the construction of the Project or such part, for
loss or damage to the Project or such part occurring from fire or lightning, it will insure and at
all times keep the Project or such part insured with a responsible insurance company or companies,
qualified to assume the risk thereof, against physical loss or damage caused by fire or lightning,
with such exceptions as are ordinarily required by insurers of structures or facilities of similar
type, in an amount not less than eighty per centum (80%) of the replacement value of the Project or
such part, less depreciation, provided, however, that such amount of insurance shall at all times be
sufficient to comply with any legal or contractual requirement which, if breached, would result in
assumption by the Board of a portion of any loss or damages as a co-insurer, and such insurance may
provide for the deduction from each claim for loss or damage (except in case of a total loss) of not
more than two per centum (2%) of the total amount of insurance required by the application of the
co-insurance clause, and provided, further, that if at any time the Board shall be unable to obtain
such insurance to the extent above required, either as to amount of such insurance or as to the risks
covered thereby or the deductible provision thereof, it will not constitute an event of default under
the provisions of this resolution if the Board shall carry such insurance to the extent reasonably
obtainable

The proceeds of such insurance shall be available for, and shall to the extent necessary be
applied to, the repair, replacement or reconstruction of the damaged or destroyed property. If such
proceeds are more than sufficient for such purpose, the balance remaining shall be deposited to the
credit of the Sinking Fund. If such proceeds, with other available funds, shall be insufficient for
such purpose, such proceeds shall be deposited to the credit of the Sinking Fund or shall be used
to purchase bonds, as the Board by resolution may determine.

Section 606. The Board covenants that no contract or contracts will be entered into or any
action taken by which the rights of the bondholders might be impaired or diminished

Section 607. The Board covenants that it will keep an accurate record of the total cost of the
Project, of the fees, rents, charges and other revenues collected, and of the application of such
revenues. Such records shall be open at all reasonable times to the inspection of all interested
persons

The Board further covenants that, if so requested in writing by any bondholder within the month
of July after the close of any fiscal year, it will cause the Comptroller of the Institution to make
a report from the books and accounts relating to the Project for the preceding fiscal year. Within
the next two months copies of such report shall be filed with the Secretary to the Board and the State
Treasurer and shall be mailed by the Comptroller to all bondholders who shall have filed their names
and addresses with the Comptroller for such purpose. Each such report shall set forth in respect of
the preceding fiscal year an income and expense account for the Project, the details of all bonds
paid, the amount on deposit at the end of such fiscal year to the credit of each Fund created under
the provisions of this resolution and the details of any investment thereof, a schedule of all insurance
policies which are then in effect, stating with respect to each policy the name of the insurer, the
amount, number and expiration date, and the hazards and risks covered thereby, and also the findings
of the Comptroller as to whether the moneys received by the Board under the provisions of this resolution
during such fiscal year have been applied in accordance with the provisions of this resolution and
whether the Board is in default of any of the covenants contained in Sections 401 and 402 of this resolution

Section 608. The Board covenants that it will not sell or otherwise dispose of or encumber the
Project or any part thereof and will not create or permit to be created any charge or lien on the
revenues therefrom ranking equally with or prior to the charge or lien of the bonds secured hereby on
such revenues. The Board may, however, sell or dispose or permit the sale or disposal by the Institution
of any furniture, fixtures, apparatus, tools, instruments or other movable property acquired for or in
connection with the Project or any materials used in connection therewith, if the Board shall determine
by resolution that such articles are no longer needed or are no longer useful in connection with the
construction of the Project or the operation and maintenance of the Project. The proceeds of any sale
made under the authority of this Section shall be deposited to the credit of the Sinking Fund

ARTICLE VII.

Remedies.

Section 701. In case the time for the payment of any coupon shall be extended, whether or not
such extension be by or with the consent of the Board, such coupon shall not be entitled in case of
default hereunder to the benefit or security of this resolution except subject to the prior payment
in full of the principal of all bonds then outstanding and of all coupons the time for the payment of
which shall not have been extended

Section 702. Each of the following events is hereby declared an "event of default", that is to
say. If

Section 703. Upon the happening and continuance of any event of default specified in Section
702 of this Article, then and in every such case any bondholder may proceed, subject to the provisions
of Section 705 of this Article, to protect and enforce the rights of the bondholders by a suit, action
or special proceeding in equity or at law, either for the specific performance of any covenant or
agreement contained herein or in aid or execution of any power herein granted or for the enforcement
of any proper legal or equitable remedy as such bondholder shall deem most effectual to protect and
enforce such rights

Section 704. In case any proceeding taken by any bondholder on account of any default shall
have been discontinued or abandoned for any reason, then and in every such case the Board and the
bondholders shall be restored to their former positions and rights, respectively, and all rights
and remedies of the bondholders shall continue as though no such proceeding had been taken.

Section 705. No holder of any of the bonds shall have any right in any manner whatever to
affect, disturb or prejudice the security of this resolution or to enforce any right hereunder,
except in the manner herein provided, and all proceedings at law or in equity shall be instituted,
had and maintained for the equal benefit of all bondholders

Section 706. No remedy herein conferred on the bondholders is intended to be exclusive of any
other remedy or remedies, and each and every remedy conferred shall be cumulative and shall be in
addition to every other remedy given hereunder or now or hereafter existing at law or in equity or
by statute

Section 707. No delay or omission of any bondholder to exercise any right or power accruing
upon any default occurring and continuing as aforesaid shall impair any such right or power or shall
be construed to be a waiver of any such default or an acquiescence therein, and every power and
remedy given by this Article to the bondholders may be exercised from time to time and as often as
may be deemed expedient

ARTICLE VIII.

Miscellaneous Provisions.

Section 801. All covenants, stipulations, obligations and agreements of the Board contained
in this resolution shall be deemed to be covenants, stipulations, obligations and agreements of the
Board to the full extent authorized or permitted by law, and all such covenants, stipulations,
obligations and agreements shall be binding upon the successor or successors thereof from time to
time and upon any officer, board, body or commission to whom or to which any power or duty affecting
such covenants, stipulations, obligations and agreements shall be transferred by or in accordance
with law

No covenant, stipulation, obligation or agreement herein contained shall be deemed to be a
covenant, stipulation, obligation or agreement of any present or future member, agent or employee
of the Board in his individual capacity, and neither the Governor of the State of Virginia nor the
members of the Board or of any other agency of the State of Virginia nor any officer thereof,
present or future, executing the bonds shall be liable personally on the bonds or be subject to any
personal liability or accountability by reason of the issuance thereof.

Section 802. Any notice, demand, direction, request or other instrument authorized or required
by this resolution to be given to or filed with the Board shall be deemed to have been sufficiently
given or filed for all purposes of this resolution if and when sent by registered mail, return
receipt requested, to The Rector and Visitors of the University of Virginia, Charlottesville,
Virginia

Section 803. The officers and agents of the Board are hereby authorized and directed to do all
acts and things required of them by the provisions of the bonds and this resolution for the full,
punctual and complete performance of all the terms, covenants, provisions and agreements contained
in the bonds and this resolution.

Section 804. In case any one or more of the provisions of this resolution or of the bonds or
coupons issued hereunder shall for any reason be held to be illegal or invalid, such illegality or
invalidity shall not affect any other provision of this resolution or of the bonds or coupons, but
this resolution and the bonds and coupons shall be construed and enforced as if such illegal or
invalid provision had not been contained therein. In case any covenant, stipulation, obligation or
agreement contained in the bonds or in this resolution shall for any reason be held to be in
violation of law, then such covenant, stipulation, obligation or agreement shall be deemed to be the
covenant, stipulation, obligation or agreement of the Board to the full extent permitted by law

Section 805. The Secretary to the Board is hereby authorized and directed to file a certified
copy of this resolution with the Governor and the Treasury Board

A vote being taken, said resolution was adopted by the following recorded vote. Ayes: Albert V.
Bryan, Thomas H. Blanton, William M. Camp, Hunter Faulconer, William A. Hobbs, Walkley E. Johnson,
Edwin L. Kendig, Jr., Mrs. Nathan Lantor, Lawrence Lewis, Jr., Walter B. Martin, E. Sclater Montague,
Frank W. Rogers, Lewis M. Walker, Jr., and Langbourne M. Williams. Nays: None

RESOLUTION PROVIDING FOR THE SALE OF FIELD HOUSE AND GYMNASIUM REVENUE BONDS

Mr. Blanton made a motion, seconded by Mr. Montague, that the following resolution be adopted

WHEREAS, The Rector and Visitors of the University of Virginia (hereinafter sometimes called
the "Board") has this day duly adopted a resolution authorizing the issuance of $1,200,000 The Rector
and Visitors of the University of Virginia Field House and Gymnasium Revenue Bonds (Series 1964), and

WHEREAS, the Board deems it advisable to sell said bonds at this time, now, therefore,

BE IT RESOLVED by the Rector and Visitors of the University of Virginia

Section 1. The State Treasurer of the State of Virginia is hereby authorized and directed to
solicit bids from various financial and investment banking institutions in the State of Virginia, and
from such other institutions which may express an interest in bidding for the bonds, for the purchase
of the $1,200,000 The Rector and Visitors of the University of Virginia Field House and Gymnasium
Revenue Bonds (Series 1964). Sealed bids are to be received for and on behalf of the Board at the
office of the State Treasurer in the City of Richmond, Virginia, until 12 o'clock Noon, Eastern Standard
Time, January 23, 1964, at which time and place the bids received will be publicly opened and read on
behalf of the Board.

No bid for less than all of the bonds or for less than par and accrued interest will be entertained.
Bidders are requested to name the interest rate, not exceeding 6% per annum, in a multiple of 1/8 or
1/20 of 1%. The bonds will be awarded to the bidder offering to purchase the bonds at the lowest interest
cost to The Rector and Visitors of the University of Virginia, such cost to be determined by deducting
the total amount of any premium bid from the aggregate amount of interest upon all of the bonds from
their date until their respective maturities.

Each bid must be submitted on a form to be furnished by the State Treasurer, must be enclosed in
a sealed envelope marked "Bid for $1,200,000 The Rector and Visitors of the University of Virginia
Field House and Gymnasium Revenue Bonds (Series 1964)", and should be addressed to the "Rector and
Visitors of the University of Virginia, c/o State Treasurer of the State of Virginia, Room 101, Finance
Building, Richmond, Virginia". Each bid must be accompanied by a certified or bank cashier's or
treasurer's check payable to the order of the State Treasurer of the State of Virginia in an amount
equal to $24,000. Award or rejection of bids will be made by the Board on the date above stated for
the receipt of bids, and the checks of unsuccessful bidders will be returned immediately. The award
of the bonds will be subject to the consent and approval of the Governor of the State of Virginia
and the Treasury Board of the State of Virginia. The check of the successful bidder will be held
uncashed as security for the performance of his bid, but in the event the successful bidder shall fail
to comply with the terms of his bid, the check may then be cashed and the proceeds retained as and
for full liquidated damages. The bonds will be delivered on or about February 20, 1964, in the office
of the State Treasurer in the City of Richmond, Virginia.

The unqualified approving opinion of Mitchell, Pershing, Shetterly & Mitchell, New York City, will
be furnished without cost to the purchasers. There will also be furnished the usual closing papers,
including a certificate, dated as of the day of the delivery of the bonds, stating that there is no
litigation pending or, to the knowledge of the signers of such certificate, threatened affecting the
validity of the bonds

Further information relating to the above bonds will be furnished upon application to the State
Treasurer

The right to reject any or all bids is reserved by the Board

Section 2. The form referred to in Section 1 above and on which all bids for the purchase of
the $1,200,000 The Rector and Visitors of the University of Virginia Field House and Gymnasium Revenue
Bonds (Series 1964) are required to be made shall be substantially as follows

(No addition or alteration, except as provided above, is to be made to this bid.)

Section 3. The officers and agents of the Rector and Visitors of the University of Virginia
and of the University of Virginia are hereby authorized and directed to do all the acts and things
required of them by the bonds and by this resolution, for the full, punctual and complete performance
of all the terms, covenants, provisions and agreements contained in the bonds and in this resolution

Section 4. The Secretary of the Board is hereby authorized and directed to file a certified
copy of this resolution with the Governor and the Treasury Board

A vote being taken, said resolution was adopted by the following recorded vote. Ayes: Albert
V. Bryan, Thomas H. Blanton, William M. Camp, Hunter Faulconer, William A. Hobbs, Walkley E. Johnson,
Edwin L. Kendig, Jr., Mrs. Nathan Lantor, Lawrence Lewis, Jr., Walter B. Martin, E. Sclater Montague,
Frank W. Rogers, Lewis M. Walker, Jr., and Langbourne M. Williams. Nays: None.

AUTHORIZATION OF NEW DEGREES

The President stated that the University Senate at its meeting on 3 December 1963, had given
its approval to the following new degrees. Doctor of Science in Mechanical Engineering in the School
of Engineering and Applied Science, Master of Science and Doctor of Philosophy in Marine Science in
the Graduate School of Arts and Sciences, and Master of Architectural History and Master of Planning
and Urban Design in the School of Architecture. The President stated his approval of these degrees
and recommended that the Board authorize the University to award these degrees

The Board adopted the following resolution

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
we hereby authorize the University to award the following degrees. Doctor of Science in Mechanical
Engineering in the School of Engineering and Applied Science, Master of Science and Doctor of Philosophy
in Marine Science in the Graduate School of Arts and Sciences, and Master of Architectural
History and Master of Planning and Urban Design in the School of Architecture

PROPOSED LEGISLATION AUTHORIZING ADDITIONAL DORMITORIES AND MARRIED STUDENT HOUSING

The President proposed and the Board adopted the following resolution

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
the President be and he is hereby authorized and directed to seek legislation at the 1964 session
of the General Assembly, which would enable the University of Virginia to construct additional
dormitories and married student housing

COORDINATION OF FUND-RAISING ACTIVITIES

The President reported on recent developments in the coordination of the fund-raising activities
of the University

LETTER FROM MR. HENRY S. HAIGHT

The Rector called to the attention of the Board a letter, dated 19 November 1963, from Mr. Henry
S. Haight, addressed to the Rector, a copy of which had been sent to each member of the Board. The
letter from Mr. Haight reads as follows

After due consideration, the following resolution was adopted

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
the request of Mr. Henry S. Haight be and it is hereby denied

UNCOLLECTIBLE HOSPITAL ACCOUNTS

The President proposed and the Board adopted the following resolution

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
the Hospital Accounts Committee be and it is hereby authorized to charge off as uncollectible accounts
Schedules 1178, 1179, 1182, and 1183, aggregating $101,572.54, as recommended by it, consisting of the
following

     

Bad debts, etc.	$ 16,848.83
Free service to counties and cities	84,723.71
Total	$101,572.54

ALLAN TALBOTT GWATHMEY MEMORIAL AWARD

The President presented a letter from Mr. Robert H. Kean, proposing the establishment of the
Allan Talbott Gwathmey Memorial Award and setting forth the conditions of the Award. He proposed and
the Board adopted the following resolution

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
we accept with grateful appreciation the gift by the colleagues and friends of the late Allan Talbott
Gwathmey, Professor of Chemistry at the University, of funds to establish the Allan Talbott Gwathmey
Memorial Fund, the income from which is to be used for an annual Allan Talbott Gwathmey Award to be
made to a graduate student who, in the year preceding the Award, produced outstanding evidence of
research ability in a fundamental problem of the physical sciences in the form of a paper, report,
publication, or dissertation

RESOLVED FURTHER that the Secretary be requested to send a copy of this resolution to Mrs. Gwathmey,
and to convey to Mr. Robert H. Kean, as the representative of the donors, the thanks of the Board for
this fitting memorial to a dedicated teacher and scientist of the University

GOVERNOR'S PROPOSED CHANGES IN THE SCHEDULES AND ADMINISTRATION OF THE FACULTY SALARY PLAN

The President reported on a proposed change by the Governor in the schedules and administration
of the faculty salary plan. Basically, the plan calls for the appropriation of a lump sum for
salaries and the relating of the salary plan to national averages for those institutions which are
fellow members with the University in the Association of American Universities. The President stated
that a study of the effect of this plan on the University's salary schedule was underway and that he
would have a further report on this matter for the Board at the February meeting

RENTAL CHARGES FOR COPELEY HILL APARTMENTS

The President reported that the resolution authorizing the issuance of $1,200,000, The Rector
and Visitors of the University of Virginia Student Apartment Buildings Revenue Bonds, which was
adopted by the Board on 29 September 1962 (Minutes, Board of Visitors, University of Virginia, No. 12,
29 September 1962, pp. 353-360), requires the Board to fix, charge, and collect fees, rents, and
charges in such amounts as may be necessary to provide the funds necessary to support the operating
expenses of the project and to amortize the bonds

Accordingly, the President proposed and the Board adopted the following resolution

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
the rental charges per month for the Copeley Hill Apartments be and they are hereby established as
set forth below, effective 1 September 1963

     

One bedroom apartment	$73.00
Two bedroom apartment	87.00
Three bedroom apartment	95.00

BRANCH OF THE SCHOOL OF GENERAL STUDIES IN ROANOKE

The President reported on the Roanoke Center of the School of General Studies, and the
advisability of developing it into a branch, coordinated with other institutions of higher learning
in the area

SOUTHERN ROUTE FOR INTERSTATE HIGHWAY 64

The President proposed and the Board adopted the following resolution

WHEREAS the consultants to the Virginia Department of Highways have recommended a southern
route, known as Line C in their report, for the location of Interstate Highway 64 in Albemarle
County and Charlottesville,

AND WHEREAS this route appears to be in the best interests of the University of Virginia for
its future growth and development,

NOW THEREFORE BE IT RESOLVED by the Board of Visitors of The Rector and Visitors of the
University of Virginia that we endorse the southern route as the most appropriate location for
Interstate Highway 64 and urge its selection by the Virginia Department of Highways.

VISITOR CHARLES R. FENWICK

Mr. Montague proposed and the Board adopted the following resolution

WHEREAS our fellow Visitor, Charles R. Fenwick, is unavoidably absent from this meeting,

BE IT RESOLVED that we have missed his wise and thoughtful counsel in our deliberations, his
experience and good judgment in our decisions, his warm and friendly presence in our moments of
relaxation,

RESOLVED FURTHER that the Secretary convey to him our appreciation for his always generous
share in all our tasks, our confidence in his leadership, our high regard for him as a friend, and
the lively pleasure with which we look forward to having him with us when we next meet

MARY WASHINGTON COLLEGE MATTERS

ELECTION

In the absence of the Chancellor, the Bursar proposed and the Board adopted the following
resolution

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
the following person be and she is hereby elected to the faculty of Mary Washington College

Miss Margaret Nolan as Instructor in Health, Physical Education, and Recreation, for one
semester, effective 1 February 1964, at a salary of $2,650

LEAVE OF ABSENCE

In the absence of the Chancellor, the Bursar proposed and the Board adopted the following
resolution

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
the following faculty member be and she is hereby granted leave of absence

Miss Margery Arnold, Associate Professor of Health, Physical Education, and Recreation, for one
semester, with half pay, effective 1 February 1964, to continue advanced study at the University of
Maryland toward the Ph.D. degree.

PURCHASE OF SUNKEN ROAD PROPERTY

The Bursar reported that the vacant property on Sunken Road, immediately opposite the entrance
to Brompton, has been recently sold to Mr. Russell Sullivan, who plans to construct an apartment
building on the property. This type of building, the Bursar stated, would present an unattractive
condition in this particular location because of the historic value of the property, which is
bounded on the Sunken Road side by the historic stone wall which was standing at the time of the
Civil War. The Director of the Budget was consulted to see if funds could be made available for the
purchase of the property. He authorized Mary Washington College to offer up to $15,000, to be paid
from the Governor's Contingency Fund, for the property, subject to the approval of the President of
the University and the Governor. The President of the University approved this proposed purchase

At the present time there is no definite commitment from the owner of the property that he will
sell the property. However, he has left the Bursar with the impression that he would accept $1,000
more than he had paid for the property, or about $14,200, provided he can obtain another location for
the construction of his proposed apartment building.

Accordingly, in the absence of the Chancellor, the Bursar proposed and the Board adopted the
following resolution

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
Mary Washington College be and it is hereby authorized to purchase the vacant property on Sunken
Road, immediately opposite the entrance to Brompton, for a sum not to exceed $15,000, subject to the
approval of the Governor, provided, however, that the form of the purchase agreement shall be subject
to the approval of Special Counsel of the University

CITY RESERVOIR

The Bursar reported that he has been informed by the City Attorney of Fredericksburg that the
contractual agreement for an easement to be granted to the City for the relocation of the City
Reservoir from its present location to a designated location on the College golf course was approved
by the City Council at its regular meeting on Tuesday, 10 December 1963. When the University's
Special Counsel has completed his review of the agreement, the instrument will then be ready for
the President's signature under the authority of the resolution adopted by the Board on 20 April
1963 (Minutes, Board of Visitors, University of Virginia, No. 12, 20 April 1963, p. 399).

CLINCH VALLEY COLLEGE MATTERS

CLINCH VALLEY COLLEGE DEFICIT

The President proposed and the Board adopted the following resolution:

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
the President be and he is hereby authorized to request the Governor to authorize Clinch Valley
College to incur a deficit not to exceed $15,000 for the fiscal year ending 30 June 1964.

EASTERN SHORE BRANCH MATTERS

ESTABLISHMENT OF EASTERN SHORE BRANCH OF THE SCHOOL OF GENERAL STUDIES

The Board adopted the following resolution:

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
the Eastern Shore Branch of the School of General Studies be established and that the President be and
he is hereby authorized and directed to take all necessary legal steps to secure its establishment.

PATRICK HENRY BRANCH MATTERS

PATRICK HENRY COLLEGE

The President proposed and the Board adopted the following resolution:

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia that
we approve a change in status of the Patrick Henry Branch of the School of General Studies to the
Patrick Henry College of the University of Virginia and that the President be and he is hereby
authorized and directed to take all necessary legal steps to secure this change in status.

- - - - - - - - - - - - - - - - - - - - -

On motion the meeting was then adjourned at 12:45 p.m.