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Show For your information, I have appended to this letter I think covers the matter, and which, if passed by the Board of Regents, would aid us very materially in administering the estate. 4.". _. .:_'.‘ a copy of the instrument of gift executed two years later. I am also enclosing a suggested form of resolution which wan": an excerpt from the will which covers this point, and also 1 Yours very respectfully," 3 A. B. Young, Executor of the Estate of Alfales Young, deceased. EXCERPT from the will of Alfales Young. deceased. " * * * * After paying my funeral expenses (and I desire my funeral to be simple) I direct that the sum of Two Thousand Dollars ($2000) be given to the University of Utah for the establishment of a library fund to be known as the Eliza Burgess Young Library Fund for the purchase of books, the income only from such fund to be used for such purpose. This income shall only be used in alternate years, the years in which it is not so used, it is to be added to the principal. I direct that this shall be done for one hundred (100) years, when the Board of Regents of the University may continue or discontinue the practice as they see fit. But the fund is to be devoted to the purpose for which it is given. The fund shall not be given to the University until after the death of my mother, but immediately after her demise. The fund is established in her memory. * * * * " Copy of Instrument of Gift. KNOW 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 UNIVERSITY OF UTAH, a body corporate under the laws of Utah, and its duly constituted successor or successors, the sum of Two Thousand ($2000) 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 dense 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 reinvested 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 result- ing from the investment of the said fund thrown/m1. i w l |
