| OCR Text |
Show 91.! 5. KNUW ALL MEN BY THESE PRESENTS, that I, ALFALES YOUNG of the City and County of Salt Lake, State of Utah, in memory of my mother, do hereby GIVE and GRANT unto the r -.-A.__ 'éF"- r- r UNIVERSITY OF UTAH, a body corporate under the laws of Utah, and its duly constituted successor or successors, the sum of Two Thousand ($2,000) Dollars in cash, to be known and designated, together with its accumulations and additions, as the ELIZA BURGESS YOUNG LIBRARY FUND This grant and gift is made with the understanding on the part of the donor and with the agreement on the part of the donee that the said fund, together with all additions that may accrue thereunto in the manner hereinafter stated or otherwise, shall be invested by the Board of Regents or other governing body of the University of Utah, and may be reinvest- ed by the said Board at its discretion, for the exclusive purpose of raising a fund to be expended under the direction of the said Board in the purchase of books for the library of the university of Utah; provided, however, that the issues and profits resulting from the investment of the said fund throughout the claendar year beginning July 1, 1916, and for each alternate year thereafter, until July 1, 2016, Shall be added to the principal of the said fund, and that the income of the said fund with its accumulations for the calendar year beginning July 1,1917, and for each alternate calendar year thereafter, until July 1, 2016, Shall be expended as aforesaid for the purchase of books for the said library, and that thereafter it shall be discretionary with the Board either to accumulate the said fund in alternate years as aforesaid or expend the income from year to year as received exclusively for the purpose mentioned; and provided, further, that it is mutaully agreed and understood that the said fund together with its accumulations and additions shall be maintained free from any loss or diminution that may result through any unprofitable investment, by appropriation from the funds of the University of Utah. _ WITNESS my hand at Salt Lake City, Utah, this 5th day of June, 1916. (Signed) Alfales Young. In the presence of (Signed) Richard W; Young. |
