 | Board of Visitors minutes January 22, 2000 |  |
TENTATIVE MINUTES —
SUBJECT TO THE APPROVAL
BY THE BOARD OF VISITORS
January 22, 2000
The Board of Visitors of the University of Virginia met, in Open Session, at 10:10 a.m., Saturday, January 22, 2000; John P. Ackerly, III, Rector, presided. Charles M. Caravati, Jr., M.D., Champ Clark, William G. Crutchfield, Jr., William H. Goodwin, Jr., T. Keister Greer, Mrs. Elsie Goodwyn Holland, Timothy B. Robertson, Terence P. Ross, Albert H. Small, Ms. Elizabeth A. Twohy, Henry L. Valentine, II, Walter F. Walker, Benjamin P.A. Warthen, James C. Wheat, III, Joseph E. Wolfe, and Robert G. Schoenvogel were present.
John T. Casteen, III, Leonard W. Sandridge, Jr., Alexander G. Gilliam, Jr., Paul J. Forch, Robert D. Sweeney, Ms. Laurie P. Kelsh, Stephen Baum, Kenneth Rodgers, and Ms. Jeanne Flippo Bailes also were present.
The Board adopted the following motion permitting it to meet in Executive Session under the terms of the Virginia Freedom of Information Act:
That the Board of Visitors of the University of Virginia go into Executive Session to discuss hedge investing the Endowment against the risk of market correction where competition and bargaining is involved, and where public disclosure at this time would adversely affect the University's financial interest; and to review the performance and present and future assignments of senior University administrators and related fund-raising expectations to finance University operations, as provided for in Section 2.1-344 (A)(1), (6), and (8) of the Code of Virginia.
The Board went into Executive Session at 10:15 a.m. and resumed in Open Session at 11:05.
On motion, the Board adopted the following resolution expressing its support of proposed legislation in the General Assembly which would facilitate the University's handling of its investments:
RESOLVED that the Board of Visitors of the University of Virginia endorses its administration's request to the Governor and the General Assembly to amend Section 23.76-1, Investment of Endowment Funds, of the Code of Virginia, to permit investments in securities and financial transactions to protect its endowment.
The President then made general introductory comments on the Agenda, which was to follow in Executive Session.
The Board resumed in Executive Session at 11:10 a.m. and continued to 5:00 p.m., when it once more met in Open Session and, on motion, adjourned.
Alexander G. Gilliam, Jr.
Secretary
| Board of Visitors minutes January 22, 2000 | |