(a) The Legislature hereby finds and declares that in order to enhance the reputation for academic excellence and intellectual vitality of the University of the Virgin Islands, such institution must be able to attract distinguished and renowned scholars. In implementation of this purpose and to afford lasting tribute to the extraordinary dedication and devotion of Morris F. de Castro to the principles of good Government, and his exceptional service to the people of the Virgin Islands, the Legislature provides by sections 471–473 of this chapter for the establishment of a chair in Government at the University of the Virgin Islands.
(b) There is hereby established in the University of the Virgin Islands, under the jurisdiction of the Board of Trustees thereof, the Morris F. de Castro Chair in Government.
(c) The Board is authorized to contract with distinguished and outstanding scholars to fill the Morris F. de Castro Chair in Government, on such terms and conditions and for such duration as may be agreed upon by the parties.
(d) The Board is further authorized to provide for proper facilities, equipment and such other services as may be necessary or appropriate to enable the holder of the Morris F. de Castro Chair to carry out his work in connection therewith and to give effect to the purposes for which such chair was established.