Chap. 174.—An ACT to authorize and direct the rector and visitors of the Uni-
versity of Virginia to surrender certain bonds of the Commonwealth of Vir-
ginia in exchange for a registered certificate of the Commonwealth, and to
provide for the payment of the interest on such certificate. (H B 31]

Approved March 14, 1924.

Whereas, the rector and visitors of the University of Virginia hold, as
part of the William Henry White Memorial Lectureship Fund, six bonds
of the State of Virginia, one of the sum of five hundred dollars ($500.00),
numbered twenty-eight, five of the sum of one hundred dollars ($100.00),
numbered eight hundred and forty-eight, four hundred and eleven,
twelve hundred and sixty-six, nine hundred and twenty-four and seven
hundred and fifty-eight, respectively, all issued on the first day of
January, eighteen hundred and seventy-nine and payable on the first
day of January, nineteen hundred and nineteen, said bonds being issued
by authority of and pursuant to act of general assembly, approved the
twenty-eighth day of March, eighteen hundred and seventy-nine, en-
titled an act to provide a plan of settlement of the public debt; and,

Whereas, said William Henry White Memorial Lectureship Fund is
devoted solely to educational purposes, namely, for the purpose of
lectures upon legal subjects at the University of Virginia; and,

Whereas, said rector and visitors of the University of Virginia desire
to surrender said bonds in exchange for a registered certificate of the
State of Virginia, as has been heretofore authorized by acts of assembly
of February twenty-third, eighteen hundred and ninety-two, January
fifteenth, eighteen hundred and ninety-four and February twenty-ninth,
nineteen hundred and eight, in pursuance of the settled policy of the
State to encourage such donations by paying full interest thereon so
long as they are held as endowments for educational and other like
purpose; therefore,

1. Be it enacted by the general assembly of Virginia, That the
rector and visitors of the University of Virginia shall, on or before the
first day of July, nineteen hundred and twenty-four, surrender to the
second auditor the six bonds aforesaid, which it holds as an endowment

und; an

That said auditor shall issue a registered certificate of debt therefor
as provided by the act approved February twenty-third, eighteen hun-
dred and ninety-two, entitled an act for the retirement of bonds held by
schools and colleges and the issuing of registered certificates therefor,
and providing for the payment of interest thereon, and by the act
approved January fifteenth, eighteen hundred and ninety-four, entitled
an act providing for the retirement of bonds held by the trustees of St.
Joseph academy, an orphan asylum of Richmond, and the issuing of
registered certificates therefor, and by the act approved February
twenty-ninth, nineteen hundred and eight, entitled an act for the retire-
ment of bonds held by St. Paul’s Endowment Fund, Incorporated, and
providing for the issuance of registered certificates therefor and the
payment of interest thereon, and the second auditor upon the first days
of January and July of each year shall draw his warrant upon the
auditor of public accounts in favor of the rector and visitors of the
University of Virginia for the interest upon such certificate at the rate
of six per centum per annum, so long as said certificate remains the
property of said rector and visitors of the University of Virginia. Right
18 reserved to the State to call i in and redeem said certificate at any time.