Proposed Revision to 1905 - Memorandum of Agreement, Montana State University Endowment and Alumni

REPEAL ENTIRE POLICY – SUPERSEDED BY 901.9

Board policy:

            1.  Montana State University is authorized to extend its Memorandum of Agreement with the Endowment and Alumni Foundation as follows:

                        a.  The Endowment and Alumni Foundation at Montana State University may erect one or more research buildings upon lands owned by the State of Montana.

                        b.  An area of approximately six acres shall be set aside on the campus of Montana State University for that purpose.

                        c.  A second building to contain about 8,000 gross square feet of floor space for offices and laboratories shall be erected within the near future.

                        d.  Additional buildings of similar size and design may be added to this complex as the volume of the research and the income from such research may make feasible, and when approved by the Board of Regents.

                        e.  The Endowment and Alumni Foundation at Montana State University shall finance the construction of said building or buildings from assets currently held by the Foundation and borrowed funds, with the loan(s) to be repaid from income generated by the research project(s) occupying the building(s).

                        f.  Title to the building or buildings shall revert to the State of Montana for the use of Montana State University when all obligations have been retired.

 

History:

               Item 203-208, Memorandum of Agreement between the Endowment and Research Foundation at Montana State University and Montana State University, July 10, 1967; Item 31-201-R0681, Authorization for Extending Memorandum of Agreement between the Endowment & Alumni Foundation (formerly Endowment & Research Foundation) with certain modifications, June 26, 1981.

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