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2005 SESSION

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056322780
SENATE BILL NO. 1312 Offered January 21, 2005 A BILL to authorize The College of William and Mary to exchange certain parcels of real property located within the City of Williamsburg. ---------- Patron-- Norment ---------- Referred to Committee for Courts of Justice ----------

Be it enacted by the General Assembly of Virginia:

1.  §1. That The College of William and Mary, to further the mission and function of its law school, with the approval of the Governor and in a form approved by the Attorney General, is hereby authorized to convey 0.40 acres of unimproved real property along Route 132 in the City of Williamsburg, commonly known as 502 South Henry Street (Tax Map No. 495-0A-00-058), in exchange for 0.70 cumulative acres of improved and unimproved real property in the City of Williamsburg, along Route 132, in the City of Williamsburg, commonly known as 604, 608, and 610 South Henry Street (Tax Map Nos. 495-0A-00-064, 495-0A-00-065, and 495-0A-00-066, respectively). Such transaction may also include a sum of money in an amount to be determined.

§ 2. The College of William and Mary is hereby authorized to prepare, execute, and deliver such deed and other documents as may be necessary to accomplish the exchange, consistent with the decentralized authorities granted pursuant to § 4-5.06 of Chapter 4 of the Acts of Assembly of 2004, and the Memorandum of Understanding with the Secretaries of Finance and Administration, dated February 2, 2004.

2.  That The College of William and Mary exercise appropriate due diligence to ensure a fair exchange of value prior to the execution of any contracts, deeds, or other documents for the exchange and conveyance.