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2. A request for continuing authorization or permission to remove timber and pulpwood from these forests. Such an authorization would eliminate the necessity of presenting recurring transactions to the Real Property and Executive Committees and would provide a means for the timely sale of timber and pulpwood. The State Department of Administration would continue to authorize each sale.

3. A request for authorization to purchase approximately 7 acres of land on the Prison Farm Road, on the east side of the Road and south of the Prison Farm, at a price of $2,200 per acre. This land is desirable for state College use since it is surrounded on three sides by the College Dairy Farm. It is privately owned and the price is considered a bargain. Funds are available for this purchase from the recent sale to the Highway Commission of 9.024 acres.

4. A request for authorization to exchange certain rights-of-way with the Carolina Power and Light Company as follows:

The Carolina Power & Light Company has a double right-of-way across the State College campus, crossing Western Boulevard about half way between the TV Station on the west and the Army Reserve Armory on the east. One is seventy feet wide; the easternmost is sixty feet wide. The College wishes to eventually get rid of both these rights-of-way and the Power Company is looking toward this in the near future. In the meantime, the Power Company proposes to abandon the sixty foot right-of-way in return for which the College would consent to widen a right-of-way along Forman Street, Harris Street and diagonally northeast to the Method Substation.

On motion of Mr. Pearsall, seconded by Mr. Bryant, unanimous approval and authorization were given to each of the above requests.

For the University at Chapel Hill

Fraternity Leases

President Friday presented the following resolution amending the procedures adopted on November 12, 1962, for the disposition of certain University property located on the Mason Farm, Chapel Hill, to fraternities for housing purposes, and he requested its adoption:

RESOLUTION

WHEREAS, on November 12, 1962, the Executive Committee of the Board of Trustees of the University of North Carolina adopted a resolution providing for the disposition of certain University property located on the Mason Farm to fraternities for housing purposes; and

WHEREAS, THE Alpha Pi of ZBT Foundation, Incorporated, is at present the only fraternity house corporation interested in locating on a lot in this area; and

WHEREAS, Alpha Pi of ABT Foundation, in its efforts to secure financing for the construction of a fraternity house has secured temporary commitments of a first mortgage loan of $75,000 and a second mortgage loan from its national fraternity organization, a non-profit corporation known as The NPEF Corporation in the amount of $45,000 and

WHEREAS, it is the stated intention of the Alpha Pi of ZBT Foundation to put approximately $50,000 into the project to be derived from the sale of its present fraternity house; and

WHEREAS, both the first and second mortgagees desire to be secured by mortgages on the fee simple interest of the Alpha Pi of ZBT Foundation, Inc. , in the lot and the improvements located thereon; and

WHEREAS, the resolution adopted by the Executive Committee on November 12, 1962, provided for a general procedure whereby the