CHAPTER 5

An Act to amend and reenact § 1 of Chapter 410 of the Acts of Assembly of
1960, relating to the borrowing of funds by the rector and visitors of
the University of Virginia to erect apartments for married students
and to prescribe the conditions in connection therewith. 9

[S 220]

Approved February &, 1962

Be it enacted by the General Assembly of Virginia:

1. That § 1 of Chapter 410 of the Acts of Assembly of 1960, be amended
and reenacted as follows:

§ 1. The rector and visitors of the University of Virginia are hereby
authorized to borrow funds from the United States or any agency thereof
or from any other source for the purpose of building not exceeding *
fourteen apartment houses to house one hundred twenty married students,
at a total cost not to exceed one million two hundred thousand dollars and
to issue revenue bonds for the repayment of said loan which bonds shall
be solely payable from the revenue derived from rentals received from
students occupying such apartments; provided, however, that the Common-
wealth of Virginia shall not at any time be required to provide funds for
the operation or maintenance of said apartments.

The full faith and credit of the State shall not be pledged to secure in
any way any such bonds.

The construction shall be in accordance with the Manual for the Plan-
ning and Execution of Capital Outlays, Commonwealth of Virginia. Priority
in the assignment of these apartments shall be given the residents of
Virginia.

Chapter 3 of Title 23 of the Code of Virginia, as now or hereafter
amended, shall be complied with in all other respects in such transactions.
2. Anemergency exists and this act is in force from its passage.