University of Virginia Library

VINCENT ESTATE

The President proposed and the Board adopted the following resolution

WHEREAS under the Will of the late Hugh E. Vincent, which was probated April 24, 1951, in the
proceedings No. 304-985 of the Civil District Court of Orleans Parish, Louisiana, Mildred Saffold
Vincent, his widow, was named as Usufructuary, and the University of Virginia, Tulane University
and Trinity Church as Naked Owners of certain assets, including interests in certain lands situated
in the State of Louisians, and,

WHEREAS it may be deemed necessary and desirable for the Naked Owners from time to time to enter
into leasing agreements with respect to the oil or mineral rights underlying said lands or enter into
other agreements with respect to said lands, and,

WHEREAS as a courtesy to this institution the Honorable Wayne G. Borah has agreed to act for it
in the matter of giving the written approval of this institution to any such agreement upon receipt of
a telegram or letter signed by either The Rector, The President or the Comptroller of this institution,
authorizing such action

NOW THEREFORE BE IT RESOLVED that upon receipt by him of a telegram or letter signed by any one
of said officials authorizing such action, the said Wayne G. Borah is hereby authorized, empowered and
directed on behalf of this institution to give the written approval of this institution to any such
lease or other agreement affecting said lands, provided the other Naked Owners have also approved
such lease or other agreement in respect thereto.