University of Virginia Library

LOAN AGREEMENT WITH GENERAL SERVICES ADMINISTRATION

The President reported that the Research Laboratories for the Engineering Sciences (RLES) has negotiated a draft of a loan agreement with the United States General Services Administration (GSA) under the terms of which GSA will make a long-term loan of certain machine tools to be used in research projects conducted by RLES. The estimated value of the equipment to be acquired under this agreement is $50,000.

In order that this loan agreement may be executed, the President reported that it will be necessary to have a resolution adopted by the Board authorizing the Comptroller of the University to sign the agreement. 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 execute a loan agreement between the United States General Services Administration and the University of Virginia under the terms of which the University will receive on a long-term loan certain machine tools to be used to support research projects carried on in the Research Laboratories for the Engineering Sciences; and
• BE IT RESOLVED FURTHER that the Comptroller of the University be and he is hereby authorized to execute any amendments and supplements to the agreement and to perform all things necessary in connection therewith.