 | Board of Visitors minutes October 3, 1939 |  |
McCUE AND WILSON LOAN: AUTHORITY TO REFINANCE:
Application was made to the Board by E. O. McCue, Jr., and Jesse B. Wilson to refinance their
indebtedness to the University secured by deed of trust upon an office building on Fifth Street,
Charlottesville, by allowing said parties to pay $1000.00 of the principal of $6000.00 now owed by them,
and to deliver to the University, in evidence of the remaining $5000.00, their seven bonds, one of which
shall be for $500.00, the remaining bonds to be for $750.00 each, all of said bonds to be payable five
years after date, with interest at 4% per annum payable semi-annually, leave being reserved to anticipate
payment of any of said bonds at any date when interest is payable, provided sixty days prior notice in
writing has been given the University of such anticipation.
It was-
RESOLVED that the Attorney for the University advise Mr. McCue and Mr. Wilson that the
University is willing to refinance this loan upon the terms above set out, provided five per
cent is paid upon said bonds instead of four per cent.
| Board of Visitors minutes October 3, 1939 | |