I. CONSENT AGENDA

A. INTENT TO ISSUE BONDS - Declares University’s intent to issue bonds to reimburse expenditures for planning costs, issuance costs, reserve funds and other financing expenses associated with the Orange Medical Facility and the Clinch Valley College Student Residence Hall.

B. CLINCH VALLEY COLLEGE INTEREST SUBSIDY - Delegates authority to the Executive Vice President and Chief Financial Officer to determine the exact amount of the interest subsidy the University will provide to Clinch Valley College to allow them to keep their housing rates at or below the market rate.

ACTION ITEMS

A. ENDOWMENT INCOME DISTRIBUTION - Approves an increase in the per-share income distribution for “Class A” shares by 20.4 percent over the amount distributed for Fiscal Year 1997-1998, for a per-share income distribution of $64.95 for Fiscal Year 1998-1999. “Class B” shares would increase by 18.8 percent over the amount distributed for Fiscal Year 1997-1998, for a per share income distribution of $87.87.

B. ACQUISITION OF ZION CROSSROADS DIALYSIS CENTER FACILITY - Approves the acquisition of the Dialysis Center facility and ground lease to provide dialysis services for Louisa and Fluvanna County residents.

C. GENERAL REVENUE PLEDGE BOND ISSUANCE SERIES 1998 - Approves the bond issuance for the Scott Stadium Expansion, the Medical Office Building, the Parking Deck for 600 Vehicles and Infrastructure Improvements Project, the Student Residence Hall, and the Refunding of Hospital Debt.

III. REPORTS BY THE EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER

ENDOWMENT REPORT - Ms. Handy will report on the market value and performance of the Endowment under control of the Rector and Visitors as of August 31, 1998.

REPORT ON ACTIONS OF THE INVESTMENT MANAGEMENT COMPANY, SEPTEMBER 14, 1998 - Mr. Goodwin will report on the actions taken by the Investment Management Company at its September 14, 1998 meeting.

VICE PRESIDENT'S REMARKS - Mr. Sandridge will report on the 1999 Legislative and Budget Amendments for the Academic Division, the Medical Center and Clinch Valley College. He will also report on the status of the UVa Health Care Plan and discuss the pricing policy for 1999-2000 tuition and required fees.