1. The Virginia Military Institute may accept the renovation and expansion of student locker rooms at Patchin Field House as a gift from the VMI Keydet Club, Inc. The private donor's contractors are hereby authorized to enter upon the land of the Institute to construct the said improvements, subject to such limitations as the Institute may require, and State approval of plans and specifications. Provided, further, that the private donor require its contractors to maintain the insurance and provide the bond, that would be required by a similar State contract. The donor and the Institute shall be named obligees under the said bonds, the premium for which may be paid by the Institute.

2. In the event that the Keydet Club does not pursue development of the project, the Virginia Military Institute is authorized to develop the project, which may be funded through a combination of private gifts and auxiliary enterprise revenues as appropriated herein.