Ordenanza N° 1 de 1888

Abstract

The image contains news about Ordinance No. 1 of 1888, which regulates the investment of the funds of the College of La-Merced. This ordinance arises in response to the loss of capital due to careless or defaulted loans by debtors. With the objective of safeguarding and growing the resources of the school, it is proposed to invest in the construction of solid and economically profitable houses in the area not essential for the functioning of the school. To manage this investment, a board is established composed of the College Trustee and representatives designated by the Assembly and the Government of the Department. This board obtains the power to set conditions for new construction and carry out renovations in the school building if it deems necessary. In addition, the Congress of the Republic is requested to pay an outstanding debt to the College to finance these investments. News published in Gaceta de Cundinamarca. August 4, 1888.