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Special Meeting
March 10, 1959

Authorize committee to act in behalf of Regents in matters re A. B. Sheldon estate

The following Resolution was moved by Regent Welsh, and seconded by Regent Adkins, put to vote and carried.

RESOLUTION

WHEREAS, A. B. Sheldon, deceased, left a Last Will and Testament, by the terms of which he devised and bequeathed forty-five per cent (45%) of the value of his residuary estate to the Board of Regents of the University of Nebraska, to be used by it, in conjunction with property received by the Board of Regents from the estate of Frances Sheldon, in constructing and equipping upon the downtown campus of the University of Nebraska in Lincoln a gallery for the purpose of housing the collection of paintings, sculpture and other works of art owned by the University, the Nebraska Art Association and similar collections; and further provided that the gallery should be used and maintained by the University solely for that purpose, and

WHEREAS, Olga N. Sheldon, as executrix, has filed in the County Court of Dawson County, Nebraska, where said estate was pending, a Report of Executrix and a Petition for Order of Partial Distribution, and

WHEREAS, it is intended by said executrix to transfer, assign and pass over to the
Board of Regents of the University of Nebraska, property and assets of said estate as soon as the same may be conveniently and properly accomplished, and

WHEREAS, it may be desired to sell certain real estate and invest and re-invest cash or other assets received by the Board of Regents from said estate;

NOW, THEREFORE BE IT RESOLVED that the president of the Board of Regents of the University of Nebraska be and hereby is authorized and empowered to appoint a committee of three (3) members, which shall have power to act in behalf of the Board of Regents with respect to:

1. Negotiating and entering into agreements for the sale of real estate which is an asset of the estate of A. B. Sheldon, deceased.

2. Invest and re-invest cash or other assets of said real estate received by the Board of Regents of the University of Nebraska from Olga N. Sheldon, executrix of said estate.

3. Complete or make government loans on any corn or other crops on any of the real estate of said estate and to sell any corn or other crops which does not qualify for government loan.

Continued

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