Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-12-18
AID FOR THE UNIVERSITY.
Three Bills Presented Looking 4"
Help from the state.

ttftD from the Stutts
The movement looking to securing n
State appropriation for the purpose Of
rebuilding the University Of Virginia has
assumed a definite shape. and yesterday
Mr. Morris. in the Senate, and Mr.. Fish
surne. in the House. presented a set OF
bills drawn 10y the Board of Visitors Of
the univ rsity. providing for an appro-
priation TO the institution of 100000.
The bills are all based on discussion
before tha joint finance committees OF
the Board Of Visitors had asst week, and
while they are three in number, it IS
ony designed that one shall pass.
The first is entitled bill defeating
and appropriatng 10 the rector and
visitors Of the University Of Virginia the
dividends 20 accrue from the Both day
Of September. 1885, 20 ana including the
Slst day Of March. 1901. on the stock md
dividend obligations of the Richmond,
Fredericksburg and Potomac Railroad
Company belonging 10 the State OF VIZ
GINA. and now he'd by the Commissioners
OF the Sinking Fund. This one pfovld $
that the dividends TO accrue from the sun
day of September. 1885, 10 and including
the 3lst day OF March, 1901, on the stO- X
and dividend obligations Of the Richmond,
Fredericksburg and Potomac Railroad
Company, belonging TO the state OF Nlr-
OF the Sinking Fund. shall be appropriated
10 the rector and visitors Of the unver-
sity, 10 be applied 10 the payment OF the
annual interest and Of the principal pro
tanto and pro rata Of the bonds authorized
20 be issued by said rector and VISITORS
by an act entitled. IAN act to authorize
the rector and visitors Of the University
Of Virginia to borrow money" approved
the -- day Of -. 1885.
The Auditor Of Public Accounts Is au-
thOTZed and directed Oh application
OF the rector ana visitors, or tner duly
authorized agent, TO draw warrants on
the Treasurer Of the Commonwealth III
their favor, payable out OF the dividends
aforesaid for the amounts OF interest
semi-annually accruing on the bonds Is
sued by said rector and VISITOR, 4uaur
the act last above referred TO.
The residue Of the dividends shall from
time TO time as received, ana as soon as
practicable. be Invested by the Board OF
Sinking Fund Commissioners In the bonds
OF the Commonwealth, commonly known
as century bonds, issued under an act
entitled an act 90 provide Tor the sftile-
ment Of the public debt of Virginia not
funded under the provisions OF an act
Nirginia's equitable share Of the debt
created before and actually existing al
the time OF the partition OF her territory
and resources, and 10 provide FOR the
Issuance OF bonds covering the same ana
the regular and prompt payment OF the
interest thereon. approved February is,
lShL, approved FEBRUARY ~ Abs-.
Said century bonds shall as soon as
they may from time 10 time be purchased,
be turned over 10y the Board Of sink ne-
Fund Commissioners 10 the said rector
and visitors Of the University of Virginia,
or 10 their duly authorized agent. The
said rector and visitors shall invest the
interest accrung from time To time on
said century bonds and shall hold all OF
said bonds and the interest and coupons on
the same In trust for the sole purpose, and
no other, OF paying pro rata the bonds
authorized TO be issued by said rector
and visitors under the Aforesaid act or
the 49, day OF --, 1895. AS soon after the
3lst day Of March 1871. as they may deem
II expedent 10 do so. said rector and
visitors shall sell the century bonds re-
ceved and held by them under tie pro-
visions OF this act, and shall apply the
proceeds 10 the payment of the bonds
Issued by said rector and visitors under
the aforesaid act OF -- 1880
?. Any act authorizing and directing the
said OF the stock and dvld nd Obligations
OF the Richmond. Fredericksburg and Po-
tOmac Railroad Company owned by the
State OF Virginia, and ali other acts and
parts Of ats IN conflict with this act are
hereby repeated
EMPOWERED TO BORROW MONEY
The second bin Is one to authorize the
rector and visitors OF the university 10
. borrow money The bill sets forth that
the rector and visitors OF the universf1l
be authorized at any meeting at which
majority Of said visitors shall be pres
tnt. TO borrow money and 10 issue bonds
therefor TO an amount not exec ding 500.
VD, ether registered OF with coupons
for Interest. OF IN part OF one class an
IN part Of the other and convertible
from one class into tn other at the plea
sure OF the holder IN sums OF 500. OF any
multiple thereof. bearing date on same day
In the year 1896, payable sixteen years
after date. wnh interest from date, AT
rate not exceeding per cent. per an
mum but containing on their face rul.
reservation OF right TO the said rector anC
visitors 20 pay the whole Oh any part OF
said bonds at any time after five years
from their daqe The money so realized
upou said bonds shall be used by Ia
said rector and visitors Tor the purpose
Of restoring said buildings Ia whole OF
In part. and IN providing other suitable
buildings 70 take the place OF th0se DE-
strOyed $500,
The bonds authorized 10 be issued shall
he xemDt from taxation In any man