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Show 155. 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 mutually 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, 1915. (Signed) Alfales Young. Regent Harkness moved the adoption of the following resolution and that a certified copy of the resolution be sent to Mr. Young. Passed. aaagriiigr WHEREAS, the late Alfales Young, by a provision of his last will and testament, executed on the 5rd day of July, 1915, bequeathed to the University of Utah a legacy of Two Thousand Dollars for the establishment of a library fund in memory of his mother, Eliza Burgess Young, said legacy to be paid to the University upon the decease of said Eliza Burgess Young; and, WHEREAS, subSequent to the execution of said will, said Eliza Burgess Young died, and thereafter, to-wit: on the 5th day of June, 1915, said Alfales Young executed a certain instrument in writing, whereby he gave to the University of Utah the sum of Two Thousand Dollars for the establishment of said library fund; and, WHEREAS, said sum of Two Thousand Dollars was thereupon v paid over to and received by said University for said purpose; and, WHEREAS, said Alfales Young died on the Slst day of March, 1920, without having revoked or modified his said will; and, WHEREAS, it is the opinion of the Board of Regents‘of the University of Utah that said Alfales Young did not intend UO |
