 | Board of Visitors minutes October 8, 1960 |  |
NEWCOMB HALL ADDITION
The President reported that the Finance Committee at its meeting earlier in the morning had
approved a proposal which would authorize the Comptroller to advance from current fund surplus not
to exceed $500,000 at 4½ per cent interest for 20 years to be amortized from payments from the
revenues of Newcomb Hall. The Newcomb Hall addition is to be devoted to the expansion of eating
facilities and the President recalled to the attention of the Board its approval earlier in the
meeting of the proposal for preparing plans for this project.
The President proposed and the Board adopted the following resolution
RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia
that the Comptroller be and he is hereby authorized to advance not to exceed $500,000 from current
fund surplus for the purpose of constructing an addition to Newcomb Hall, the loan to be amortized
within 20 years at 4½ per cent interest
| Board of Visitors minutes October 8, 1960 | |