June 14, 1996
V. WAYNE KENNEDY
SENIOR VICE PRESIDENT--BUSINESS AND FINANCE
Delegation of Authority--Sale and Purchase of Real Property
Section 100.4 (gg) of the Standing Orders of The Regents states:
100.4 Duties of the President of the University.
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(gg) The President is authorized to approve the sale, purchase, receipt by gift, or other acquisition of real property when such real property (1) is used, held, or to be acquired for campus-related purposes as defined in (ff) above, and the consideration does not exceed $5 million, (2) consists of for-sale housing units within an approved University for-sale housing program, (3) is acquired through foreclosure, deed-in-lieu of foreclosure, or otherwise in
realization of a security interest under an approved University home loan program, or (4) is the former residence of a recently recruited employee acquired pursuant to an established personnel policy for covered moving
Effective immediately, the authorities specified above are delegated to you as Senior Vice President--Business and Finance. Authority to take all actions and approve and execute all documents authorized by The Regents for specific for-sale housing projects shall be exercised in accordance with the following restrictions:
- You may not exceed any limits or the authorities specified in the Bylaws and Standing Orders of The Regents or University policy, except as specifically authorized or directed by The Regents.
- You may not take or approve actions which increase the financial obligations of the University beyond the specific authorization approved by The Regents.
- The general intent and purpose of such projects remain unchanged from those as approved by The Regents.
Any redelegation of the above authority shall be in writing with copies to the Vice President--University and External Relations, Special Assistant--Coordination & Review, the General Counsel and Vice President for Legal Affairs, and the Secretary of The Regents. This delegation supersedes the delegation of authority issued September 21, 1994 (DA 2023) to the Senior Vice President--Business and Finance on this same subject.
Richard C. Atkinson
Members, President's Cabinet
Assistant Vice President Bocchicchio
Special Assistant Gardner
Principal Officers of The Regents