268



The Undersigned hereby certifies that the following is an



(board or Trustees meeting, November 16, 1986)



exact copy of a Resolution of the Board of Trustees of the

College of the Virgin Islands ("College") duly adopted at its

meeting on November 16, 1986, as recorded in the Minutes of said

meeting:



RESOLUTION OF THE BOARD OF TRUSTEES

OF THE COLLEGE OF THE VIRGIN ISLANDS .



WHEREAS, Enron Corp. ("ENRON") is desirous of making a

Substantial gift to the Foundation for the College of the Virgin



Islands ("Foundation"), consisting of 350 acres, more or less;



and



x



WHEREAS, ENRON would like the use of the land and/or the

proceeds from the sale or use of the land to benefit the College

of the Virgin Islands, subject to certain terms and conditions;



NOW, THEREFORE, be it resolved that the President and Vice

President of Business and Financial Affairs of the College are

hereby authorized to accept the terms and conditions sie ie gift

of land in St. Croix, Virgin Islands, consisting of 350 acres;

more or less, from ENRON to the Foundation, as substantially set

forth in the Agreement attached hereto and made a part hereof;

and the President and Vice President of Business and Financial

Affairs of the College are hereby authorized to execute any other

documents necessary to accept the terms and conditions of the

gift as the President and Vice President in their discretion,



deem necessary or appropriate.



=



DATED: 16 November 1986 _



Seceetees ot the Board or



Trustees


* sage <



279



Zam



the sale or lease of the property, said chair shall be known as

the Enron Chair of American Business, Capitalism or Economics.



a3 If the College of the Virgin Islands constructs a

building out of the proceeds derived from the sale or use of the

land, said building shall be known as the Enron Building.



Ee If the College of the Virgin Islands utilizes the

proceeds from the sale or use of the land for the development of

a school of tueiness or for the use of its graduate. or

undergraduate business administration students, then said school

of business shall be known as the Enron School of Business or the

Business Administration Division shall be known as the Enron

Business Administration Divjsion of the College.



4. If the land or the proceeds derived from the sale or

use of the land is used for a College development program then

said program shall be named the Enron Development Program.



a. The land and the proceeds derived from the sale or use

of the land shall be used for no other purpose except for the



benefit of the College of the Virgin Islands or its successor



educational institution.



DATED: 16 November 1986 KL er Sn. fan

ecretary ot the Board or



Trustees