Chap. 170.—An ACT to authorize and empower the trustees of the Ann Smith
Academy, of Lexington, Virginia, a body corporate, by an act of the general
assembly of Virginia, approved January 7, 1808, to give, transfer, sell, convey
or exchange- all of its property, real and personal, for educational purposes.

Approved March 11, 1908.

Whereas, by an act of the general assembly of Virginia, approved
January seventh, eighteen hundred and eight, a body corporate, under
the style and name of “the trustees of the Ann Smith academy, was
created for the education of females in the town of Lexington, and
county of Rockbridge, and

Whereas, the said body corporate, by virtue of the powers conferred
upon i¢ by said act, acquired considerable real estate, and has accumu-
lated a small amount of money, but owing to the great development
and advancement of the public free schools of the Commonwealth, find
it almost impossible and impracticable to continue and carry out the
original purposes of the trust, and think that it will be to the great
advantage of the public generally and the beneficiaries under the trust
to sell or convey the property to some other corporation for educational
purposes, therefore

1. Be it enacted by the general assembly of Virginia, That the body
corporate, known as “the trustees of the Ann Smith academy,” chartered
and incorporated by an act of said assembly, approved January seventh,
eighteen hundred and eight, be and is hereby authorized and empowered,
if they see fit, to give, transfer, sell or convey all of its property, real
and personal, to the town of Lexington, in the county of Rockbridge,
or to the legally and properly constituted public free school authorities
for said town, or to any other educational corporation they may deem
proper, upon such terms, conditions and restrictions, as to the said
“trustees of the Ann Smith academy,” may seem just and proper, save
only, that no such gift, transfer, sale or conveyance shall be made for
any other purpose than the education of the children who would be
entitled to the rights and privileges of the public free schools of said
town for white children.

2. That the trustees may sell or exchange their present real estate
for any other property, the same or the proceeds thereof to be held or
conveyed only for educational purposes.