07/07/1938

 UCCSN Board of Regents' Meeting Minutes

July 7-8, 1938 



07-07-1938
Volume 5 - Page 221

                 EXECUTIVE COMMITTEE MEETING
                        July 7, 1938

At a meeting of the Executive Committee of the Board of Regents
of the University of Nevada held on the 7th day of July, 1938,
at which all the members of said Committee, to-wit:  Silas E.
Ross, George S. Brown and George Wingfield were present, the
following business was transacted.

The matter of the settlement between the University and the
Estate of Mary Bragg Fulton, deceased, on account of the pro-
visions of her Will whereby a bequest was made to the University
for the establishment of a lecture fund to be known as the
Robert Lardin Fulton Lecture Foundation, was discussed, and also
the petition for partial distribution in said Estate, which was
filed in the District Court of Washoe County on the 27th day of
June, 1938.  Thereupon, after due consideration, the following
Resolutions were unanimously adopted by the vote of all of the
said Executive Committee:

    RESOLVED, that the Executive Committee of the Board of
    Regents of the University of Nevada believe that the sum
    of $10,000 will be sufficient to return to the University
    for the Robert Lardin Fulton Lecture Foundation an annual
    income of $300;

    FURTHER RESOLVED that the University of Nevada will accept
    from John Allen Fulton, as executor of the Estate of Mary
    Bragg Fulton, deceased, said sum of $10,000 in cash or, at
    his option, a note and mortgage payable to the University
    of Nevada in said principal sum of $10,000, with interest
    thereon at the rate of 3% per annum, until paid, interest
    payable annually, and secured by a mortgage which shall be
    a first lien on the two lots and the buildings thereon,
    belonging to said Estate, situated on the south side of
    First Street in the City of Reno, between the Granada
    Theatre and the Masonic building;

    FURTHER RESOLVED that the acceptance of the foregoing prop-
    osition by said John Allen Fulton as such executor, and the
    understanding that said cash shall be paid or said note and
    mortgage executed and delivered as soon as may be after the
    partial distribution filed in the District Court of Washoe
    County on June 27, 1938.  George S. Brown, as attorney for
    the Board of Regents, is hereby authorized to consent in
    open court to the granting of said petition;

    FURTHER RESOLVED that upon said sum of $10,000 being paid or
    being deposited to secure the due execution and delivery of
    said mortgage, the Chairman of the said Board of Regents or
    a majority of said Regents be and they hereby are authorized
    to execute in the name of the University of Nevada and under
    its seal, a release, releasing and discharging the said
    Fulton as such executor of the Estate of Mary Bragg Fulton
    and said Fulton individually, of and from any and all claims
    arising under the provisions of the Will of said Mary Bragg
    Fulton, deceased.

                         /s/ Silas E. Ross
                             George S. Brown
                             George Wingfield
                             Executive Committee of the
                             Board of Regents of the
                             University of Nevada

The foregoing Resolutions of the Executive Committee be and they
hereby are approved by all of the members of the said Board of
Regents.

                         /s/ S. E. Ross
                             George S. Brown
                             George Wingfield
                             Frank Williams
                             A. C. Olmsted