University of Virginia Library

1879.

Chapter 115. An Act concerning certain state bonds donated
by William W. Corcoran to the University of Virginia for the
endowment of a professorship of natural science therein. Approved
April 2, 1879.

"Whereas William W. Corcoran, Esquire, of the City of Washington,
has made a donation to the University of Virginia for the
endowment of a professorship of natural science therein, of fifty
thousand dollars in consol bonds of the state, with coupons attached
thereto, for interest from first of July, 1878, payable semi-annually,
and receivable for taxes and public dues; and Whereas it is desired
by the authorities of the University to convert the said consols into
registered bonds of the state bearing interest from first of January,

1879, they having cut off and retained the coupons for January,
1879; therefore,

1. Be it enacted by the general assembly, That it shall be the
duty of the second auditor and the treasurer, on the application of
the rector, to convert the said $50,000 of consols into registered
bonds in the name of the rector and visitors of the University of
Virginia, bearing interest at the rate of six per centum payable semiannually
from first of January 1879. And for the payment of
such interest, the auditor of public accounts is hereby authorized
and required to place in the treasury to the credit of the second
auditor a sufficient sum to pay such interest, from time to time, as
it may fall due.

2. This act shall be in force from its passage". Acts 1878-9,
p. 378.