Board of Visitors minutes October 9, 1992 | ||
4545
AUTHORIZATION TO EFFECT CAPITAL ADVANCES TO THE UNIVERSITY
OF VIRGINIA REAL ESTATE FOUNDATION
The following resolution was adopted:
- WHEREAS, the University of Virginia Real Estate Foundation intends to respond to the Office of Personnel Management's Request for Proposal dated August 7, 1992, to construct, lease and operate a training facility on the Foundation's research park; and
- WHEREAS, a commitment to provide financing is required as part of this proposal; and
- WHEREAS, the Board of the University of Virginia Real Estate Foundation has requested that the Board of Visitors of the University of Virginia provide such a commitment from its endowment funds;
- BE IT RESOLVED that the Finance Committee of the Board of Visitors of the University of Virginia approves and hereby authorizes the Senior Vice President and Chief Financial Officer to effect capital advances to the University of Virginia Real Estate Foundation in an amount not to exceed thirteen million dollars ($13,000,000.00) for a period of fifteen (15) years for use by the Foundation consistent with the purpose as state herein. The interest rate on such loan shall be equal to the interest rate established by the Finance Committee in its Executive Session on October 8, 1992.
Board of Visitors minutes October 9, 1992 | ||