 | Documentary History of the Construction of the Buildings at the University
of Virginia, 1817-1828 |  |
The President & Directors of the Literary Fund
Extract from the Minutes
At a Meeting of the President & Directors of the Literary Fund, on Thursday, March 23d.
1820.
A Letter was laid before the Board, from Thomas Jefferson Rector of the University of
Virginia, dated March 10th. 1820, which was ordered to be filed: and the Board being
informed that the whole sum of sixty thousand dollars, for the loan whereof application has
been made to this Board by James Breckenridge, Joseph C. Cabell and Chapman Johnson,
on behalf of the Visitors of the University of Virginia, will not be wanting during the present
year;--[849]
Resolved, That the sum of forty thousand dollars be lent to the Visitors of the University of
Virginia, for the purpose of completing the buildings, to be drawn for between the 1st. and
20th. days of next month (April); the interest to be annually paid, and the principal to be
redeemed in five equal annual payments; the first instalment of said principal to be paid at
the expiration of three years from the date of the loan: Provided, that the annual
appropriation, made by law to the said University, be legally pledged to this Board for the
punctual payment of the annual interest, and the redemption of the principal in the manner
above stated.
The foregoing is a true extract from the proceedings of the Board--
Wm: Munford, Clerk of the Literary Fund--
ADS (extract), ViU:TJ, 2p [1775] with TJ docket "Loan. Literary board."
| Documentary History of the Construction of the Buildings at the University
of Virginia, 1817-1828 | |