Board of Visitors minutes January 26, 1990 | ||
Section 1. The Board of Visitors of the University of Virginia (the "Board") (a) covenants to fix, revise, charge and collect rentals, fees and charges for or in connection with the use, occupation and services of the Project and (b) pledges such rentals, fees and charges to the payment of the principal of, premium, if any, and interest on the bonds issued to finance the Project; provided that the current expenses of operating the Project (the "Current Expenses") shall be a first charge on such rentals, fees and charges. The Board further covenants that such rentals, fees and charges will be fixed, revised, charged and collected so that the revenues therefrom, after payment of Current Expenses,
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Board of Visitors minutes January 26, 1990 | ||