CHAPTER 114

An Act to authorize the State Board of Education, subject to the approval
of the Governor, to sell and convey certain real estate owned
Virginia State College, and to provide for the application of the pro-
ceeds of such sale. rH 68]

Approved February 28, 1964

Be it enacted by the General Assembly of Virginia:

1. That the State Board of Education be, and is hereby, in its discre-
tion, subject to the approval of the Governor, authorized to sell at public
auction or from sealed bids or by private sale as the Board may deter-
mine, and to convey by proper deed to the purchaser thereof, the property
known as 464 Byrne Street, Petersburg, Virginia, which property was
acquired by the Commonwealth of Virginia for Virginia State College by
deed dated January 16, 1948, from the United States of America, acting
by and through the Federal Works Administration, recorded in the Hust-
ings Court of the City of Petersburg, Virginia, January 29, 1948, Deed
Book 168, Page 476.

The sale of such property shall be in such amount as may be accept-
able to the State Board of Education and the Governor; the terms of such
sale shall be cash in hand paid upon delivery of a deed of conveyance and
an — shall be approved as to form and substance by the Attorney

neral.

The proceeds of the sale are hereby appropriated to Virginia State
College as a replacement of this real estate investment now included in
the endowment fund assets of the College, and for reinvestment by the
State Treasurer with the approval of the State Board of Education, as s
part of the said endowment fund.

2. An emergency exists and this act is in force from its passage.