University of Virginia Library

ARTICLE I
DEFINITIONS AND INTERPRETATION

Section 101. Short Title. This resolution may hereafter be cited, and is hereinafter sometimes referred to, as the "Note Resolution".

Section 102. Definitions. In this Note Resolution unless a different meaning clearly appears from the context:

(1) Articles and Sections mentioned by number only are respective Articles and Sections of this Note Resolution so numbered;

(2) "Act" shall mean Section 23-30.01 of the Code of Virginia (1950), as amended to the date of adoption of this Note Resolution;

(3) "Authorized Officer" means the Comptroller of the University and any other person authorized by resolution of the Board of Visitors of the University or the Executive Committee thereof to act as an Authorized Officer hereunder;

(4) "Board" means the Board of Visitors of the University acting as the governing body thereof;

(5) "Depository" means the banking institution designated as such pursuant to Section 802;

(6) "Endowment Fund" means the Endowment Fund of the University which is subject to the control of the Board;

(7) The terms "herein", "hereunder", "hereby", "hereto", "hereof" and any similar terms refer to this Note Resolution, and the term "hereafter" means after the date of adoption of this Note Resolution;

(8) "Investment Obligation" means any of the following which, at the time the investment therein is made, are lawful investments for public funds under the laws of the Commonwealth of Virginia: (i) direct general obligations of the United States of America or the Commonwealth of Virginia; (ii) obligations the payment of the principal of and interest on which, in the opinion of the Attorney General of the United States in office at the time such obligations were issued in the case of obligations of the United States or in the opinion of counsel in the case of obligations of the Commonwealth of Virginia, are unconditionally guaranteed by the United States of America or the Commonwealth of Virginia;

(9) "Note" or "Notes" means one or more than one of the notes of the University particularly authorized by Section 301;

(10) "Noteholder", or "holder" or any similar term, when used with reference to a Note or Notes, means any person who is the bearer of any Note outstanding and unpaid;

(11) "Paying Agent" and "Co-Paying Agent" means the banking institutions designated as such pursuant to Section 802;

(12) "University" means The Rector and Visitors of the University of Virginia, a public body and governmental instrumentality of the Commonwealth of Virginia;

(13) "Unrestricted Quasi-Endowment Funds" means the moneys and assets determined by the Board to be retained and held in the Endowment Fund and which are not subject to any restriction, whether imposed by the donor thereof or by the Board, on the use thereof or on the use of the income therefrom;

(14) Words importing the singular number include the plural number and vice versa and words importing persons include firms, associations and corporations.