 | Board of Visitors minutes July 6, 1942 |  |
SAMUEL PHILLIPS MITCHELL BEQUEST:
The President stated to the Board that in order to comply with the provisions of Section
57(a) of the Pennsylvania Fiduciaries Act, it is necessary for the University to appoint an
Attorney-in-Fact in the City of Philadelphia upon whom process may be served, the necessity for
this appointment arising in the settlement of the Estate of Samuel Phillips Mitchell, deceased,
as a condition precedent to the payment by the Executors of said Estate to the University of the
sum of $63,889.06 which passes to the University under the Will of said Samuel Phillips Mitchell,
deceased.
The President recommended the appointment of the C T Corporation System, a Delaware
subsidiary of the Corporation Trust Company as Attorney-in-Fact for this purpose, advising the
Board that the charge of this Corporation for the services in question will be $15.00 per annum.
After a discussion of the conditions surrounding this situation, it was, unanimously,
RESOLVED that the C T Corporation System be and is hereby appointed
Attorney-in-Fact for The Rector and Visitors of the University, for it and in its
name, place and stead to receive all notices and service of process in connection
with the Estate of Samuel Phillips Mitchell, deceased, or growing out of the appointment
of The Rector and Visitors of the University as Trustees under the Will of said
decedent, giving and granting unto our said Attorney-in-Fact authority to act as
fully and completely in the premises as The Rector and Visitors of the University
of Virginia might do if personally present, and ratifying and confirming whatsoever
said Attorney-in-Fact may lawfully do for said The Rector and Visitors of the
University of Virginia in the premises. And J. L. Newcomb, President of this Corporation,
is hereby authorized and empowered to execute a Power of Attorney in the name and
on behalf of this Corporation granting the above powers to said C T Corporation System,
and E. I. Carruthers, Secretary of The Rector and Visitors of the University of
Virginia, is hereby authorized to affix, and duly attest the corporation seal thereto.
The President then presented to the meeting a form of bond payable to the Commonwealth
of Pennsylvania, in the sum of $127,778.12, conditioned for the faithful execution by the University
of Virginia of the uses and trusts declared by the Will of said Samuel Phillips Mitchell, deceased,
stating that he was advised that the execution and delivery of this bond was also necessary
as a condition precedent to delivery by the Executors of the funds above referred to. It,
was, thereupon, unanimously
RESOLVED that J. L. Newcomb, President of The Rector and Visitors
of the University of Virginia, be and is hereby authorized to execute said bond
in the name and on behalf of The Rector and Visitors of the University of Virginia,
and E. I. Carruthers, Secretary of this Corporation, is hereby authorized and
instructed to affix the corporate seal of the University to said bond and attest
the same, and to deliver the same.
| Board of Visitors minutes July 6, 1942 | |