University of Virginia Library

1895-96.

Chapter 136. An Act to enable the rector and visitors of the
University of Virginia to repair the loss sustained by that institution
by the fire of October 27, 1895. Approved January 23, 1896.

"Whereas the principal buildings of the University of Virginia
were nearly destroyed, and many thousand volumes of its library,
together with much valuable furniture, apparatus, and other of its
property totally destroyed, by the fire of October 27th, 1895; now,
therefore, for the purpose of restoring the university to its original
efficiency by repairing the old buildings or erecting new, and by
providing necessary books, apparatus, and furniture:

1. Be it enacted by the general assembly of Virginia, That the
rector and visitors of the University of Virginia be, and they are
hereby, authorized at any meeting at which a majority of said
visitors shall be present, to borrow money, and to issue bonds therefor,
to an amount not exceeding $200,000, either registered or with
coupons for interest, or in part of one class and in part of the other,
and convertible from one class into the other at the pleasure of the
holder, in sums of one hundred dollars, or any multiple thereof,
bearing date on some day in the year 1896, payable forty years
after date, with interest from date at a rate not exceeding six per
centum per annum; but containing on their face the reservation of
right to the said rector and visitors to pay the whole or any part of
said bonds at any time after ten years from their date.

2. The bonds authorized hereby to be issued shall be exempt
from taxation in any manner by the state of Virginia, or by any
county, city, town, or other corporation exercising powers of taxation
under the authority of this commonwealth.

3. For the purpose of securing payment of said bonds, the said
rector and visitors are hereby authorized to convey by deed of

trust all the property belonging to or held to the said University,
subject to any previous pledge thereof which heretofore has been
made.

4. The sum of $10,000 per annum, in addition to the $40,000
provided for by section fifteen hundred and fifty-four of the code
of Virginia, shall be paid to the rector and visitors of the University
of Virginia, in equal semi-annual installments, at such times as they
may fix. The said sum of $10,000 per annum shall be used by the
said rector and visitors for the sole purpose, and no other, of paying
the interest as it shall accrue on the bonds authorized by this act to
be issued, and of providing a sinking fund for the payment of the
principal thereof.

5. This act shall be in force from its passage." Acts 1895-6,
p. 159.

Chapter 414. An ACT to allow the joint library committee
and the general librarian of the commonwealth to permit the transfer
of duplicate volumes in the State library to the library of the
University of Virginia. Approved February 24, 1896.

"Whereas, there are a number of duplicate volumes in the state
library, a single set of which will meet all the demands for the
same; and whereas application has been made by the rector and
visitors of the University of Virginia that such duplicate volumes
as can be spared from the state library, without detriment to the
same, may be transferred to the library of the University of Virginia,
remaining the property of the commonwealth;

1. Be it enacted by the general assembly of Virginia, That such
volumes as are duplicate in the state library, and in the judgment
of the joint committee on the library and the general librarian, may
be spared therefrom without detriment to said library, be delivered
to the rector and visitors of the University of Virginia, at their cost
and charges, for the transfer, for deposit in the library of the
University, to be and continue, however, the property of the commonwealth,
and subject to recall by the library committee of the
legislature at any future time.

2. This act shall be in force from its passage." Acts 1895-6,
p. 444.