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be entirely suitable for that purpose, after making the
fullest signing, and advising with those whose judgement we
consider good, as to the values, we think [?} so laid off
on the plot can be sold to from $8000.00 to $10000.00.
Under the [?unintelligible?] lease [?] board pays $225.00
per year of the life of the entire ground being five percent
on the appraised valye of $4500.00. The lease gives the
option to the Board at any period of five years, to
terminate the lease could get a [?] title for
the property on the payment is $4500. The next five
year period will expire in January, 1908, and not before
that will expire in January, 1908, and not before
that will your board have the right to elect to produce
the property. We consider it desirable for the [interest of the
University to tweak the purchase as as the
board has the right to do so, and shall have been authorized
to make it by the legislation.
We have no doubt of the right of the board to purchase
real estate at any time. This right is easily given
by Section 10 at the cect of the legislature of 1804, but we
are the opinion of he board must trust have the
money on hand to make the payment, and that the
Board can not go hi dect for the property.
Should the Board purchase this property it well, there after,
to all there, be free of the obligation to pay the yearly rental
of $225.00, and what use of disposition shall be made
at the ground, other than that used for the athlete (ground) or
help, since neither of the Board to consider after the
purchase shall have been made, if made.
We think that the lots shown on the plot could be sold
for [?] more than the $4500.00 and that from the
proceeds of the scales of the lots, the athlete fund could be
entirely enclosed with a suitable use, annd an audible
and compaitable [?] [?] could be enacted and leav a
very considerable balance in the treasury.
Respectfully Submitted
E.J. Jares
H.M. Welche
F.G Whiley '
Committee