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APPROVAL OF CONVERSION OF CAPITAL ADVANCE TO CONTRIBUTION FOR VIRGINIA AUXILIARY SERVICES-FOUNDATION
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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APPROVAL OF CONVERSION OF CAPITAL ADVANCE TO CONTRIBUTION FOR VIRGINIA AUXILIARY SERVICES-FOUNDATION

The following resolution was adopted:

  • WHEREAS, the Rector and the Visitors of the University of Virginia authorized a $500,000.00 non-interest bearing capital advance to the Virginia Auxiliary Services Foundation on January 29, 1987; and
  • WHEREAS, the Virginia Student Aid Foundation has used these funds to support the Birdwood Golf Course and facilities, providing discounts and services to faculty, staff and students of the University of Virginia;
  • RESOLVED that the non-interest bearing capital advance from the general funds of the University to the Virginia Auxiliary Services Foundation in the amount of $500,000.00, be converted from an operating loan to a contribution to the operating costs of the Birdwood Golf Course and facilities.