University of Virginia Library

MILITARY PROPERTY BOND

The following resolution was adopted.

WHEREAS, The Rector and Visitors of the University of Virginia by resolution dated 9
July 1948 bound itself to the extent of $100,000 to the United States Government at the time of
establishment of a Transportation Reserve Officers Training Corps; and

WHEREAS, a Signal Reserve Officers Training Corps, and an Air Reserve Officers Training
Corps are about to be established; and

WHEREAS, the value of the military property furnished or to be furnished to the University
of Virginia for the use of the three ROTC units will be substantially increased, it is now
required by the United States Government to increase the amount of the previous bond to $225,000.

NOW, THEREFORE, KNOW ALL MEN BY THESE PRESENTS: That said The Rector and Visitors of
the University of Virginia hereby cancels the previous bond in the amount of $100,000 and in lieu
thereof is held and firmly bound unto the United States of America in the just and full sum of two
hundred twenty-five thousand dollars ($225,000.00) lawful money of the United States, for which
payment, well and truly to be made, it binds itself, its successors and assigns, firmly by these
presents.

THE CONDITION OF THIS OBLIGATION IS SUCH that if the above-bounden The Rector and Visitors
of the University of Virginia shall take good care of the property covered by this bond and
shall when required by the Secretary of the Army, duly return the same in good order to him, or
to such persons as he may designate to receive the same, within thirty (30) days from the receipt
of notice so to do, except uniforms, expendable articles, supplies expended in operation,
maintenance and instruction, such property as has been worn out in the service for which it was
intended, and/or property lost or destroyed without negligence of said The Rector and Visitors
of the University of Virginia, or its agents, including students under its jurisdiction, then
this obligation to be void and of no effect; otherwise to be and remain in full force and virtue.

It was, thereupon,

RESOLVED that Colgate W. Darden, Jr., President of The Rector and Visitors of the University
of Virginia, be and he is hereby authorized and requested to execute said bond in the
name and on behalf of said The Rector and Visitors of the University of Virginia, and that Vincent
Shea, Secretary of The Rector and Visitors of the University of Virginia, be and he is hereby
authorized and requested to affix the corporate seal of said corporation to said bond, attesting
the same and delivering the said bond to the Judge Advocate of the United States Army.