University of Virginia Library

The word "Board" shall mean the Rector and Visitors of the University of Virginia
or, if said Board shall be abolished, the board or body succeeding to the principal
functions thereof

The word "cost", as applied to the Project, shall embrace the cost of construction
and all obligations and expenses and all items of cost which are set forth in Section
303 of this resolution

The term "Current Expenses" shall mean the Board's reasonable and necessary
current expenses of maintenance, repair and operation of the Project and shall
include, without limiting the generality of the foregoing, all ordinary and usual
expenses of maintenance, repair and operation, which may include expenses not
annually recurring, premiums for insurance, and any other expenses required or
permitted to be paid by the Board under the provisions of this resolution or by
law, but shall not include any reserves for extraordinary maintenance or repair, or
any allowance for depreciation, or any general administrative expenses of the Institution,
or any deposits or transfers to the credit of the special fund hereinafter
created in the State Treasury and designated "The Rector and Visitors of the University
of Virginia Field House and Gymnasium Revenue Bonds (Series 1964) Interest
and Sinking Fund" (hereinafter sometimes called the "Sinking Fund").

The term "fiscal year" shall mean the period commencing on the first day of
July and ending on the last day of June of the following year