Special Announcement Edition
Texas Geology Alumni Breakfast at AAPG, April 13th
A Texas Geology Alumni Breakfast is on the program for 8 a.m., Tuesday, April 13, 1954, at the Jefferson Hotel's Ivory Room, in St. Louis. You should secure your tickets when you register for the joint meeting of the AAPG-SEPM-SEG. See you there!
Geology Foundation Established by The Board of Regents
This is the first public announcement that The University of Texas Board of Regents has established a Geology Foundation. The full text of the minutes of the Board of Regents follows:
ESTABLISHMENT OF GEOLOGY FOUNDATION of .The Department of Geology of The University of Texas.— Chancellor Hart presented with his approval a recommendation by President Wilson that the Board approve the establishment of a Geology Foundation for the Depart ment of Geology at The University of Texas, as follows :
Whereas, there exists a clear and specific need for means to finance the program of the Department of Geology of The University of Texas in addition to the regular budgetary provisions, and
Whereas, it is the desire of interested persons to set up facilities to encourage and assist in such financing,
It is Now Resolved that the Board of Regents of The University of Texas approve the establishment of, and hereby establishes, the Geology Foundation of the Department of Geology of The University of Texas.
And Furthermore, that the purpose of the said Founda tion shall be to foster and to promote the growth, progress and development of geological education, research and gradu ate study at The University of Texas under circumstances acceptable to the Board of Regents subject to provisions hereinafter set out.
1. The funds of the Foundation shall be devoted solely to the furtherance in and through the Geology Foundation of basic geological education, research and graduate study at The University of Texas and in other educational and research institutions and in field work and travel as it promotes development of the research program of the Department of Geology, and shall not be used for the ordinary operating expenses of the Department.
2. A donation to the Foundation may be made for a specific purpose and may be given the name of the donor or other designation specified by the donor ; e.g., The Richard Doe Fund to the Geology Foundation; or may be given as undesignated funds which shall be used in accordance with provisions hereinafter set out.
3. The Board of Regents shall hold, manage, control, sell, exchange, lease, convey, mortgage or dispose of in any manner and for any consideration and on any terms, the said gifts, funds, or property in their discretion, and shall from time to time pay out of the income, or if the income be insufficient, out of the principal, all expenses of trust and all expenditures incurred in furthering the purposes of the trust.
4. Neither any donation to the Geology Foundation nor any fund or property arising therefrom in whatever form it may take shall ever be any part of the Permanent University