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University of Virginia Library

Board of Visitors minutes
January 31, 1986

OFFICIAL MINUTES - TENTATIVE Subject to the Approval of the Board of Visitors THE RECTOR AND VISITORS OF THE UNIVERSITY OF VIRGINIA January 31, 1986

MOTIONS FOR EXECUTIVE SESSIONS

ELECTION OF PART-TIME FACULTY

ELECTION OF NON-SALARIED FACULTY

CHANGE IN THE EFFECTIVE DATE OF THE ELECTION OF DR. RAVINDER K. MITTAL

ACTIONS RELATING TO CHAIRHOLDERS

LEAVES OF ABSENCE

CORRECTION IN THE EFFECTIVE DATE OF THE LEAVE OF ABSENCE OF MR. JAMES A. NORTON

CHANGES OF TITLE

RE-APPOINTMENTS

RE-ELECTION OF MR. MARION B. PEAVEY AS VICE PRESIDENT FOR DEVELOPMENT AND UNIVERSITY RELATIONS

DEATH OF MR. RICHARD H. HENNEMAN

ESTABLISHMENT OF THE JOHN S. BATTLE PROFESSORSHIP IN LAW

ESTABLISHMENT OF THE WILLIAM CLAY PARRISH, JR., PROFESSORSHIP IN EDUCATION

RENAMING OF THE DISTINGUISHED PROFESSORSHIP IN PAIN MANAGEMENT THE HAROLD CARRON PROFESSORSHIP IN ANESTHESIOLOGY

REPORT ON CONSTRUCTION

REPORT OF THE HOSPITAL ACCOUNTS COMMITTEE

APPROVAL OF THE FIRM OF HENNINGSON, DURHAM AND RICHARDS, INC., AS ARCHITECTS FOR THE MEDICAL RESEARCH BUILDING MR-4 ADDITION/CLINICAL RADIOLOGICAL RESEARCH PROJECT

APPROVAL OF CONSTRUCTION MANAGER FOR MEDICAL RESEARCH BUILDING MR-4 ADDITION

INCREASE IN SUMMER SESSION TUITION AND FEES FOR 1986

INCREASE IN STUDENT HOUSING RATES FOR 1986-1987

RENTAL RATES FOR HOUSING FACILITIES FOR THE SUMMER 1986

APPROVAL OF AMENDMENT TO FACULTY MORTGAGE LOAN PROGRAM

APPROVAL OF CONTRACT FOR HOUSEKEEPING SERVICES EXCEEDING $250,000

GIFTS, GRANTS AND CONTRACTS

STATUS REPORT ON THE POST CAPITAL CAMPAIGN DEVELOPMENT PLAN

RESOLUTION REJECTING THE STATE TIAA/CREF OPTIONAL RETIREMENT PLAN

APPROVAL OF SUMMARY OF AUDIT REPORTS

APPROVAL OF UNIVERSITY AND HOSPITAL FINANCIAL REPORTS

APPROVAL OF 1986 INTERNAL AUDIT SCHEDULE

APPROVAL OF OMB CIRCULAR A-110 AUDIT REPORT

RESOLUTION AUTHORIZING THE PRESIDENT TO ENTER INTO A MEMORANDUM OF UNDERSTANDING BETWEEN THE UNIVERSITY, THE CITY AND THE COUNTY

AUTHORIZATION FOR ALUMNI PATENTS FOUNDATION TO CREATE REAL ESTATE FOUNDATION AND FOR CAPITAL ADVANCE TO THE NEW FOUNDATION

REPORT ON LEGISLATIVE MATTERS

REPORT BY THE RECTOR ON THE ACTION OF THE EXECUTIVE COMMITTEE REGARDING A SERIES RESOLUTION AUTHORIZING THE ISSUANCE OF $37,200,000 OF THE RECTOR AND VISITORS OF THE UNIVERSITY OF VIRGINIA VARIABLE RATE DEMAND HOSPITAL REVENUE REFUNDING BONDS (SERIES D) TO PAY A PORTION OF THE COST OF ADVANCE REFUNDING CERTAIN OUTSTANDING HOSPITAL REVENUE BONDS; PROVIDING FOR ADJUSTMENTS IN THE INTEREST RATES ON SUCH BONDS; PROVIDING FOR CONVERSION TO A FIXED INTEREST RATE; DETERMINING THE CONDITIONS UNDER WHICH SUCH BONDS MAY BE TENDERED FOR PURCHASE BY THE HOLDERS THEREOF; CREATING CERTAIN FUNDS AND ACCOUNTS AND APPOINTING THE PAYING AGENT AND THE REMARKETING AGENT

REPORT BY THE RECTOR ON THE ACTION OF THE EXECUTIVE COMMITTEE REGARDING THE EXERCISE OF OPTION FOR THE AUTOMOBILE CLUB OF VIRGINIA REAL ESTATE

CLINCH VALLEY COLLEGE MATTERS

Attachment A COMPARISON OF EXISTING AND PROPOSED FACULTY MORTGAGE LOAN PROGRAM

ATTACHMENT B CUSTODIAL SERVICES FOR UNIVERSITY OF VIRGINIA

ATTACHMENT C ARTICLES OF INCORPORATION UNIVERSITY OF VIRGINIA REAL ESTATE FOUNDATION

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ATTACHMENT C BYLAWS OF UNIVERSITY OF VIRGINIA REAL ESTATE FOUNDATION

ARTICLE I. OFFICES

ARTICLE II. DIRECTORS

ARTICLE III. COMMITTEES

ARTICLE IV. OFFICERS

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ARTICLE V. CONTRACTS, CHECKS, DRAFTS, BANK ACCOUNTS, ETC.

Section 5.1. Execution of Contracts and Other Documents.

Section 5.2. Loans.

Section 5.3. Checks, Drafts, Etc.

Section 5.4. Deposits.

ARTICLE VI. MISCELLANEOUS

ARTICLE VII. AMENDMENTS

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2940

AUTHORIZATION FOR ALUMNI PATENTS FOUNDATION TO CREATE REAL ESTATE
FOUNDATION AND FOR CAPITAL ADVANCE TO THE NEW FOUNDATION

Following the Urban Land Institute's visit to Charlottesville, the President received the Institute's report which summarized its findings and recommendations. The report recommended that a real estate foundation be established which would be responsible for managing certain real estate assets and meeting the overall mission and educational goals of the University as they may be reflected in the acquisition and development of real estate. The Alumni Patents Foundation, with the encouragement and direction of the University administration, developed proposed articles of incorporation and by-laws for the University of Virginia Real Estate Foundation, which will be organized and operated exclusively for exempt purposes under Section 501 (c) (3) of the Internal Revenue Code of 1954 and which will at all times be operated solely in connection with, and exclusively for the benefit of the University.

The following resolution was adopted:
RESOLVED that the action of the Alumni Patents Foundation to create a non-stock, tax exempt foundation with the name of "University of Virginia Real Estate Foundation" (UVREF), including the proposed articles of incorporation and by-laws of UVREF, which were exhibited to the meeting, (Attachment C) be, and it hereby is, approved;
BE IT FURTHER RESOLVED that the Vice President for Business and Finance be, and he hereby is, authorized to enter into such transactions and agreements with UVREF as he may deem appropriate, including a working capital advance to UVREF not to exceed $800,000, on such terms as he may negotiate.