 | Board of Visitors minutes July 14, 1950 |  |
REPORT OF FINANCE COMMITTEE
Mr. Gay, Chairman of the Finance Committee, stated that the Committee had received an application
from the Old Ivy Inn for a loan of $100,000 to remodel and increase the facilities of the
Inn. After careful consideration of the matter, the Finance Committee felt that the University was
not in a position to go into the mortgage loan business. Upon recommendation of the Finance Committee,
the following resolution was adopted.
BE IT RESOLVED that the Finance Committee be and is hereby directed to confine itself to the
present program of making real estate loans only to fraternities, faculty members, and personnel identified
with the University and/or enterprises associated with its activities
| Board of Visitors minutes July 14, 1950 | |