University of Virginia Library

ADDITIONAL LOAN FOR PURCHASE OF MICROSCOPES

The President reported that the Board of Visitors at its meeting on 9 February 1963 approved the renting of microscopes to medical students and authorized a loan in the amount of $87,500 to be used for the purchase of microscopes. The conditions of the loan were that it be repaid with interest at 4-1/2 percent; that an appropriate amount for insurance and maintenance be provided; that the costs be recovered by an annual fee of $40 per medical student; and that the plan become effective with the entering class in September 1963 and be extended to each entering class thereafter. The original loan has been reduced to a current balance of $70,520.

The President stated further that the Dean of the School of Medicine has requested authorization to purchase 35 additional microscopes which are needed for the planned increase in medical students and in graduate students in the basic science departments.

The request is that the loan authorization be increased from $87,500 to $110,000.

Accordingly, the following resolution was adopted:

• RESOLVED by The Rector and Visitors of the University of Virginia that the Comptroller of the University be and he is hereby authorized to make available to the School of Medicine, as needed, an amount not to exceed $110,000 at any one time, to be used for the purchase of microscopes, the conditions of the original loan authorization of $87,500 as incorporated in the Board's resolution of 9 February 1963 to be continued in effect.