RESOLUTION OF THE BOARD OF TRUSTEES OF THE COLLEGE OF THE VIRGIN ISLANDS — February 27, 1983
(Board of Trustees Meeting, Ebruary 27, 1983) = (2 The undersigned does hereby certify that the following is a true and exact copy of a resolution of the Board of Trustees of the College of the Virgin Islands adopted at its meeting on February 27, 1983, as recorded in the minutes of said meeting: RESOLUTION OF THE BOARD OF TRUSTEES OF THE COLLEGE OF THE VIRGIN ISLANDS WHEREAS, Mr. Adolph Krisch donated 1,000 shares of common stock of American Motors Inns, Inc. to the College of the Virgin Islands with the hope and desire that the proceeds from the sale of the stock would be used for the development of a hotel and restaurant training program at the College of the Virgin Islands; and WHEREAS, the hotel and restaurant management program at the College of the Virgin Islands has been phased out due to lack of sufficient student interest; and WHEREAS, Mr. …
Download the original document · Plain text (TXT) · Browse the archive · How this archive works
Original source: https://www.uvi.edu/files/documents/Board_of_Trustees/Resolutions_and_Actions/1962-1989-Index-of-Resolutions-and-Actions/1983_01.pdf
SHA-256 a0bac4206a1a29c9280478ee541c249246f2658a13f5122cb43e1c5bf2c710b9
Re-using this document
Our description, tagging, arrangement, extracted text and machine transcripts are released under CC0 1.0. We assert nothing about the document itself.
Archive identifier LF-a0bac4206a1a
Document text
(Board of Trustees Meeting, Ebruary 27, 1983) = (2 The undersigned does hereby certify that the following is a true and exact copy of a resolution of the Board of Trustees of the College of the Virgin Islands adopted at its meeting on February 27, 1983, as recorded in the minutes of said meeting: RESOLUTION OF THE BOARD OF TRUSTEES OF THE COLLEGE OF THE VIRGIN ISLANDS WHEREAS, Mr. Adolph Krisch donated 1,000 shares of common stock of American Motors Inns, Inc. to the College of the Virgin Islands with the hope and desire that the proceeds from the sale of the stock would be used for the development of a hotel and restaurant training program at the College of the Virgin Islands; and WHEREAS, the hotel and restaurant management program at the College of the Virgin Islands has been phased out due to lack of sufficient student interest; and WHEREAS, Mr. Adolph Krisch has expressed a desire that the proceeds from the sale of the stock be used for the development of the marine science program at the College of the Virgin Islands; and WHEREAS, there was a two for one stock split on December 12, © a 1980, which resulted in 1,000 additional shares being issued to ~ a the College for a total current holding of 2,000 shares of American Motors Inns, Inc. stock; NOW, THEREFORE, be it resolved that the President and Vice-President for Business and Financial Affairs for the College of the Virgin Islands are hereby authorized to transfer the 2,000 shares of American Motors Inns, Inc. stock | _from,the College of the Virgin Islands endowment. — _. fund to the restricted operating funds of the ~™” : College; and the President and Vice-President oe of Business and ‘Financial Affairs are further Se ee authorized. to-sell the 2,000 shares of American Moters Inns, Inc. stock for their fair market e- value, less-.appropriate brokerage fees, for the ~ use and benefit of the marine science program of -the College of the Virgin Islands at such time as they, in their. discretion, deem necessary or eae ’ “ appropriate; .and to execute any and all documents Sea es Si ae necessary to accomplish the foregoing. : ene eget 2" DATED: February :27, 1983 Soe ges bri scsi oo 25 , sa Nay hale ARLERICAH FOTOR TENS [HEORPORATED EXECUTIVE OFFICES: 1517 FRANKLIN RO., S. Vi. © 7.0. 2DX% 34109" ROANOKE, VIAGINIA 2£022 U.S. A. CAELE ADORESS: ~YOUA HOST~ (793) 3£2 £531 - CC ar SSSR SS ADOLPH KRISCH i e Chairman of the Board ; may 25 > Dr. Arthur A. Richards President COLLEGE OF THE VIRGIN ISLANDS St.-Thomas, U.S. Virgin Islands 00802 dent | Rueinoee and Financial Alfa Dear Dr. Richards: - fice of the Vice Pres When Frenchman's Reef was in the earliest stages of . development back in 19/1, I was happy to be able to donate -1,000 shares of stock in American Motor Inns, Inc. to the - College of the Virgin Islands. We acceced at that time to . Je the suggestion that this donation be earmarked for hotel training. ‘oie aaa - It hes come to my attention thet the original purpose has not as yet come to fruition and that the stock remains in an inactive account. At this time, I would like to change the conditions of my donation so that it may instead be used for the marine science program of your college. It is By hope that this will help to make it possible for more of your students to become involved in working with the wonderful ocean environ- ment which surrounds your beautiful islends. Please let me know if this is agreeable. I would appreciate it if you would discuss details of the use of the . donation with Henry Wheatley, ovr public affairs officer in the Virgin Islands. ; - Z Sincerely, . AMERICAN MOTOR INNS, INC. -, Adolph Krisch : — AK/cg -- Chairman of the Board Arerican Motor tans, tnc., Undsr License Agreement with Holiday Inas, tnc., Cper2tss Motor tans In The Following States: Mone, Massachusetts. Connectcut,. Mew Jersey. Maryland, Pennsylvania, Vegnia. Noch C2°ci ra. Fesressse. Florida and St Thomas, US. Virgin Istancs - Other Company Propecies induce: BY-ssion Vatiey Inn, Fa’e'sh, hoch Ca:cira, Shat2icn A506 Inn, Fira~<2, Virginia American BMoctor tars, Inc. Also Provizes Catsring Service t2 Cer2in Civic Ce7te53 and Airpor Rest2urants | i