University of Virginia Library

---

(78)

1916.

Chapter 271. An ACT to authorize the rector and visitors of
the University of Virginia to enter into a contract with Dr. William
E. Hopkins of New York city, in regard to a conditional donation,
and to enter into contracts of a similar nature with others. Approved
Mrach 16, 1916. (H. B. 251.)

"1. Be it enacted by the general assembly of Virginia, That the
rector and visitors of the University of Virginia be and are hereby
authorized to enter into a contract with Dr. William E. Hopkins,
of New York city, under the terms of which the said Dr. William
E. Hopkins will deliver to the said rector and visitors of the University
of Virginia a sum of money not greater than $35,000 and
not less than $25,000, said sum to be used by said the rector and visitors
of the University of Virginia in the erection of a teaching building
at the University of Virginia. And during the whole of the natural
life of said Dr. William E. Hopkins said the rector and
visitors of the University of Virginia shall pay to him in consideration
of said donation the sum of $1200 per annum, but upon the
death of said Dr. William E. Hopkins the sum so delivered by him
shall become the absolute property of said the rector and visitors
of the University of Virginia, free from any further payment to
the estate of said Dr. William E. Hopkins by said the rector and
visitors of the University of Virginia, or any claim on the part of
said estate against said the rector and visitors of the University of
Virginia.

And said the rector and visitors of the University of Virginia are
further authorized and empowered to enter into such other contract
or contracts for the acceptance by them of sums of money upon
which the donor requires as consideration for and as a condition to
the gift that an annuity be paid by said donee during the life-time
of the donor, or for some other fixed period not exceeding beyond
the life of the donor, provided such donation or gift shall become
absolute, complete and unconditional upon the determination of the
period during which such annuity is to be paid.

Said the rector and visitors of the University of Virginia shall
fix the amount of such annuity at a sum not exceeding five per
centum upon the principal amount of the donation, and may also
impose such other conditions, limitations and restrictions with reference
to such donations as they may consider necessary." Acts
1916, p. 491.