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University of Virginia Library

Board of Visitors minutes
March 21, 1986

THE RECTOR AND VISITORS OF THE UNIVERSITY OF VIRGINIA March 21, 1986

INTRODUCTION OF NEW BOARD MEMBERS

EXPRESSIONS OF APPRECIATION TO RETIRING VISITORS

MOTIONS FOR EXECUTIVE SESSIONS

ELECTION OF FRED G. POLLARD AS RECTOR OF THE UNIVERSITY OF VIRGINIA

ELECTION OF RAYMOND C. BICE, JR. AS SECRETARY TO THE BOARD OF VISITORS

ELECTION OF ALEXANDER G. GILLIAM, JR. AS ASSISTANT SECRETARY TO THE BOARD OF VISITORS

APPOINTMENT OF STANDING COMMITTEES

ELECTION OF PART-TIME FACULTY

ELECTION OF NON-SALARIED FACULTY

ELECTION OF CLINICAL FACULTY

ACTIONS RELATING TO CHAIRHOLDERS

LEAVES OF ABSENCE

CHANGES OF TITLE

ELECTION OF PROFESSORS EMERITI

RE-APPOINTMENTS

ESTABLISHMENT OF THE FREDERICK TRACY MORSE PROFESSORSHIP IN MECHANICAL AND AEROSPACE ENGINEERING

ESTABLISHMENT OF THE BROKAW PROFESSORSHIP IN CORPORATE LAW

ESTABLISHMENT OF THE ALBERT CLARK TATE, JR. PROFESSORSHIP IN LAW

INCREASE IN TUITION AND REQUIRED FEES AND OTHER CHARGES FOR THE UNIVERSITY DIVISION

INCREASE IN TUITION AND REQUIRED FEES AND OTHER CHARGES FOR CLINCH VALLEY COLLEGE

ALLOCATION OF REQUIRED FEES

INCREASE IN CONTRACT RATES FOR DINING SERVICES, 1986-1987

ESTABLISHMENT OF LATE REGISTRATION FEE FOR THE UNIVERSITY, 1986-1987

INCREASE IN FACULTY AND STAFF HOUSING RATES FOR 1986-1987

INCREASE IN RESIDENTIAL HOUSING RATES FOR CLINCH VALLEY COLLEGE, 1986-1987

INCREASE IN THE FACULTY SALARY SCALE FOR THE UNIVERSITY

INCREASE IN FACULTY SALARY SCALE FOR CLINCH VALLEY COLLEGE

INCREASE IN CLINICAL AND PATHOLOGY FACULTY SALARY CEILINGS FOR THE SCHOOL OF MEDICINE

RESOLUTION TO ENHANCE FACULTY TIAA DISABILITY PLAN

RESOLUTION TO OFFER SUPPLEMENTAL LIFE INSURANCE TO FACULTY

RESOLUTION TO EXTEND THE UNIVERSITY OF VIRGINIA TIAA/CREF RETIREMENT PLAN TO ALL ELIGIBLE FACULTY

APPROVAL OF EASEMENT FOR VIRGINIA ELECTRIC AND POWER COMPANY TO CARRUTHERS HALL PROPERTY

REPORT OF THE HOSPITAL ACCOUNTS COMMITTEE

NAMING OF THE FOOD CENTER THE FONTANA FOOD SERVICES CENTER OF THE UNIVERSITY OF VIRGINIA

APPROVAL OF CHANGE IN INTEREST RATE FOR FACULTY MORTGAGE LOAN PROGRAM

APPROVAL OF THE FIRM OF BROWN, EICHMAN, DALGLIESH AND GILPIN ARCHITECTS FOR THE PERFORMANCE OF ARCHITECTURAL DESIGN FOR HANDICAPPED ACCESS, PHASE IV, OLD CABELL HALL

STATUS REPORT ON THE POST-CAPITAL CAMPAIGN DEVELOPMENT PLAN

SCHEDULE OF MEETING DATES FOR 1987

GIFTS, GRANTS AND CONTRACTS

APPROVAL OF SUMMARY OF AUDIT REPORTS

REPORT BY THE RECTOR ON THE ACTION OF THE EXECUTIVE COMMITTEE REGARDING THE AUTHORIZATION FOR THE VICE PRESIDENT FOR BUSINESS AND FINANCE TO ENTER INTO A LETTER OF AGREEMENT WITH THE ALUMNI ASSOCIATION WITH RESPECT TO THE FONTAINE AVENUE PROPERTY

AUTHORIZATION FOR THE VICE PRESIDENT FOR BUSINESS AND FINANCE TO EXECUTE A CONTRACT BETWEEN THE UNIVERSITY AND THE ALUMNI ASSOCIATION TO EXERCISE AN OPTION ON THE FONTAINE AVENUE PROPERTY

AUTHORIZATION TO EXECUTE THE CONTRACT BETWEEN THE UNIVERSITY AND THE ALUMNI ASSOCIATION WITH RESPECT TO THE ALUMNI ASSOCIATION ACQUISITION OF THE WESTOVER AND PARK PLACE PROPERTIES

AUTHORIZATION FOR RESTRUCTURING OF THE PORTFOLIO OF THE CONSOLIDATED ENDOWMENT

INSTRUCTION FOR THE SALE OF ALL SHARES OF THE LUBRIZOL CORPORATION

RESOLUTION FOR AUTHORIZATION TO PARTICIPATE IN COMMONWEALTH OF VIRGINIA 9-C BOND ISSUE

CLINCH VALLEY COLLEGE MATTERS

Exhibit A UNIVERSITY OF VIRGINIA Preliminary Feasibility Study for Student Health Building Prepared by The University of Virginia Budget Office December 1, 1981

Exhibit B UNIVERSITY OF VIRGINIA Feasibility Study for North Grounds Recreational Facility Prepared by the University Budget Office In Conjunction with the Vice President for Student Affairs and the Department of Athletics December 22, 1983

Exhibit C UNIVERSITY OF VIRGINIA Feasibility Study for Construction: Parking Garage and Utilities Prepared by the University Budget Office In Conjunction with the Department of Parking and Transportation University of Virginia January 16, 1985

Exhibit D UNIVERSITY OF VIRGINIA Feasibility Study for Housing for Approximately 650 Students Prepared by the University Budget Office in conjunction with the Student Housing Division University of Virginia January 20, 1981 Revised: 3/28/84

ATTACHMENT A OFFICE OF THE LEGAL ADVISER TELEPHONE (804) 924-3586 March 6, 1986

Attachment B PROXY ADVISORY COMMITTEE SPECIAL REPORT ON THE LUBRIZOL CORPORATION MARCH 18, 1986

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Attachment B
PROXY ADVISORY COMMITTEE
SPECIAL REPORT ON THE LUBRIZOL CORPORATION

MARCH 18, 1986

The Proxy Advisory Committee recommends the divestment of 15,000 shares of Lubrizol Corporation currently valued at $407,000. In reaching this conclusion the Committee considered the following issues:
1. 40 employees and 2% of sales ($19.7 million) is a significant involvement and warrants attention.
2. Lubrizol refuses to sign the Sullivan Principles or an equivalent standard which is audited externally. The Committee does not believe that President Reagan's Executive Order of September 9, 1985 addresses the same concerns for positive action in opposition to the policies of apartheid.
3. The Company's responses present no evidence of active opposition to apartheid.
4. The Company, in its letters over the past 6 years, has been unresponsive to the concerns of the University and the Committee when information has been requested. No attempt has been made by Lubrizol to substantiate its positive activities in South Africa.

Proxy Advisory Committee
Divestment Report 1
March 18, 1986
Page 2.
5. Discussions with the investment advisor revealed that the Company tends to be unresponsive to analysts' concerns in general and therefore their approach to responding to our correspondence is not uncharacteristic. Their letters, however, were deemed to be unresponsive at best and rude at worst. In 1985 the stock had a high of $28 per share and low of $20 and traded on average around $22 per share. The current price of 27 1/8 reflects the trend in lower oil prices since December, 1985 and the advisor believes that since this run has occurred already, suitable substitutes could now be found without a great deal of difficulty.
The vote on the part of the Committee was unanimous.