University of Virginia Library

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5171

APPROVAL OF THE UNIVERSITY OF VIRGINIA POLICY STATEMENT
GOVERNING EXERCISE OF AUTONOMY IN LEASES OF PROPERTY

The following resolution was adopted:

• WHEREAS the General Assembly of Virginia, during its 1996 session, enacted legislation ("enabling legislation") providing for a permanent delegation of autonomy to the University to be exercised on behalf of the Medical Center in relation to leases of property; and
• WHEREAS the enabling legislation further delegated to the University as a whole autonomy for leases of property, other than leases entered into on behalf of the Medical Center, which autonomy is to be exercised during a two-year pilot project concluding at the end of the 1996-98 biennium; and
• WHEREAS each of the two foregoing delegations of autonomy to the University provide that the authority delegated to the University may not be exercised until the Board of Visitors adopts an appropriate system of policies, procedures, reviews and approvals pursuant to which University officials will be guided in their exercise of the delegated autonomy; and
• WHEREAS the Board of Visitors' policies, procedures and guidelines adopted in relation to University leases of property other than leases entered into on behalf of the Medical Center are subject to a requirement in the enabling legislation that they be submitted to the Secretary of Finance and the Secretary of Administration for their approval by September 1, 1996; and
• WHEREAS the Board of Visitors finds that the proposed "Policy Statement Governing Exercise of Autonomy in Leases of Property," attached hereto, constitutes the required system of reviews, approvals, policies, procedures and guidelines prescribed by the enabling legislation and is otherwise appropriately designed to provide for the efficient and businesslike administration of leases of property;
• RESOLVED that, based upon the expressed and implied powers of the Board of Visitors to protect and preserve the University's interests and properties, the "Policy Statement Governing Exercise of Autonomy in Leases of Property," attached hereto, be approved;
• RESOLVED FURTHER that the President be delegated the authority (1) to implement the adopted and approved Policy Statement in the manner he deems most appropriate; (2) to delegate further to his designee the administrative responsibility to implement and assure compliance with the adopted Policy Statement; (3) to take such steps as he may deem necessary and reasonable to secure approval of the Secretaries of Finance and Administration for those portions of the Policy Statement relating to University leases of property, other than those entered into on behalf of the Medical Center; and (4) to approve any minor changes in the Policy Statement where necessary to secure the foregoing approvals, which changes, if any, shall be reported to the Board of Visitors.