UNIVERSITY OF THE VIRGIN ISLANDS

BOARD OF TRUSTEES RESOLUTION

To authorize the establishment of an International Scholarship



Endowment Fund from the proceeds of the inauguration activities for

the third president of the University



WHEREAS, one of the goals of the University is to inter-

nationalize the institution to provide a culturally diverse

learning environment for students, and



WHEREAS, such an objective would be facilitated by the

establishment of a scholarship endowment fund from which

scholarships can be made available to students from the Caribbean

and other foreign countries, and



WHEREAS, the availability of the proceeds from the President’s

Inauguration activities provides us with a unique opportunity to

establish such a fund;



NOW, THEREFORE BE IT RESOLVED:



That the Board of Trustees of the University of the Virgin Islands

hereby authorizes:



(1) The establishment of an International Scholarship

Endowment Fund,



(2) The transfer to the fund, the sum of $72,900 representing

proceeds from the President’s inauguration activities,



(3) The use of 50% of the earnings on the principal of the

fund for the awarding of scholarships to international

students.



(4) The President to develop appropriate procedures and

criteria to carry out the purpose of this resolution.

CERTIFICATION

The undersigned does hereby certify that the foregoing is a true

and exact copy of a resolution of the Board of Trustees of the



University of the Virgin Islands adopted at its meeting on

December 8, 1991, as recorded in the Minutes of said meeting.



Secretary to the Board