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Washington.  Although the installment payments would not have to be made by the Smithsonian until the winters of 1982-83 and 1983-84, both the owner and Monticello are anxious for a commitment now by the Smithsonian to make the purchase.

Since agreement to this purchase involves commitment of future year budget allocations not yet voted by the Regents, we have discussed the matter with the Chancellor and the Chairman of the Executive Committee of the Board of Regents.  In view of the importance of painting to the Portrait Gallery collection, the success of the Collections Acquisition Program to date, and the projected ability of the Smithsonian to fund the program for a further five-year period beginning in FY 1983, they deemed it appropriate to proceed with the contract.  We trust this procedure meets with your approval, and have enclosed a reply card for your convenience.  The favor of your early response will be particularly appreciated.

Sincerely,

^[[/S/]]

Phillip S. Hughes
Acting Secretary

Enclosure

VOTED that, in anticipation of continuing the Regents' Collections Acquisition Program beyond fiscal year 1982, the Board of Regents concurs in the proposed agreement for the purchase of Gilbert Stuart's "Edgehill" portrait of Thomas Jefferson, as described in Phillip S. Hughes' letter of June 15, 1982.

/ / Approved            / /Disapproved

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