DONATIONS TO THE UNIVERSITY OF VIRGINIA.
Under an act of the Legislature, entitled "A bill to encourage donations to the University
of Virginia, and to constitute the State of Virginia the trustee thereof," "any
person may deposit in the treasury of this State, or bequeath money, stock, or public
bonds of any kind, to be so deposited, or grant, devise, or bequeath property, real or
personal, to be sold, and the proceeds to be so deposited, in sums not less than one
hundred dollars, which shall be invested in certificates of debt of the State of Virginia,
or of the United States, or any other State thereof, for the benefit of the University of
Virginia; and in such case the interest or dividend accruing on such stock, certificates
of debt, or bonds, shall be paid to the Rector and Visitors of the University, to be by
them appropriated to the general purposes thereof, unless some particular appropriation
shall have been designated by the donor or testator, as hereinafter provided. . . . . .
The State of Virginia is hereby constituted the trustee for the safe-keeping and due application
of all funds which may be deposited in the treasury in pursuance of this act."
