33

26

the University or to adjacent property owners; and

WHEREAS, the University may hold an undetermined interest in the base title to the said alley, and has granted to the Sigma Chi, Pi Kappa Alpha and Sigma Nu fraternity house corporations the right of ingress and egress over and upon the University's interest in the said alley with the provision that if the said fraternities ever cease to use their properties for fraternity purposes the said properties will revert to the University upon payment of the fair market value of the properties to the said fraternity holding corporations; and

WHEREAS, the University administration considers it to be in the best interest of the University that the said alley be maintained and kept open at all times in order to provide a passageway for fire trucks, garbage removal, and other necessary usage for the operation of the adjacent fraternity houses;

NOW, THEREFORE, BE IT RESOLVED that the Executive Committee of the Board of Trustees of the University of North Carolina recommends to the North Carolina Department of Administration and to the Governor and Council of State that the interest of the State in and to the following described property be conveyed to the Town of Chapel Hill for use as a public alley with the provision that the State's interest in said property will revert to the State if the adjacent properties on the South side of said alley should ever become the property of the University or the State of North Carolina.

LEGAL DESCRIPTION OF ALLEY

BEGINNING at a point located 461.5 feet South 25 degrees 13 minutes East from the Southwest corner of the intersection of Columbia Street and Franklin Street, this reference point at this intersection being located 19.4 feet South of the South Curb line of Franklin Street and 22.4 feet West of the West curb line of Columbia Street; the point of beginning, being the Southeast corner of the property line of the Beta Theta Pi fraternity property; thence South 25 degrees 13 minutes East 12 feet to the corner of the Signa Chi fraternity property; thence with the properties of the Signa Chi fraternity and the Pi Kappa Alpha fraternity, South 64 degrees 30 minutes West 198 feet to a point; thence North 25 degrees 13 minutes West 12 feet to a point; thence North 64 degrees 30 minutes East 198 feet along the South property line of the Beta Theta Pi fraternity to the point of BEGINNING.

Mr. Hill moved that the above resolution be adopted. Mr. Umstead seconded the motion, and it was unanimously adopted subject to the recommendation of the Committee on Real Estate that this course of action is contingent upon similar action by the other adjacent property owners.

Sale of State College Property to the State Highway Commission

President Friday presented a recommendation, approved by the Committee on Real Estate, for authority to request the Department of Property Control to transfer 9.204 acres of State College land to the State Highway Commission for the sum of $27,612.

The Highway Commission proposes to construct a testing laboratory on the land. The property is described as follows:

BEGINNING at an iron stake 30.31 feet West of a point in the center of Blue Ridge Boulevard 877.12 feet South of its intersection with Reedy Creek Park Road, and running thence in a Westerly direction 900 feet to a corner; thence in a Southerly