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Show 1% UNIVERSITY OF UTAH COLLEGE OF LAW SALT LAKE CITY 1 January 15, 1954 Dr.- A, Ray. Olpin President University of Utah. Salt Lake City 1., Utah Dear Sir: My understanding is that the locators of certain mining claims desire to donate them to the University for leasing and development purposes. I think the University may 1aw~ fully accept such a gift, particularly in View of the following language from Section 53-31%, Utah Code Annotated 1953; " The University in its corpdrate capacity may take by purchase, grant, gift, devise or bequest any property, real or personal, for the use of any department of the university, or of any professorship, chair or scholarship therein, or for the-library, an observatory, workshops, gymnasiums, experimental apparatus, a students' loan fund or any other purpose appropriate to the objects of the university. It may convert property received by gift, grant, devise or bequest and not suitable for its uses into other property so available or into money. Such property so received or converted shall be held, invested and managed, and the proceeds thereof used by the board, for the purposes and under the conditions thereof must he rejected and the intent of the grantor or donor carried out as nearly as may be. No grant, gift, devise or bequest for the benefit of the university shall. be defeated or prejudiced by any misnomer, misdescription or informality Whatever, if the intention of the grantor or donor can be shown or ascertained with reasonable certainty. " The University is incorporated as an educationa l insti- tution and is not authorized to conduct business affai rs as a general principle, However, as the foreg oing statute says,it is authorized to accept certain gifts and to turn them into money as the occasion requires, Years ago John R. Park's will left considerable real estate to the Unive rsity which was later converted into cash. And, of course throughout the United States there has been a movement in recent years to |
