WHEREAS the lands described in the Schedule to this Ordinance have been reserved as an endowment for a Colonial University: AND WHEREAS by the 30th section of the New Zealand University Act 1874 it is provided that all lands heretofore reserved for a Colonial University in the Province of Otago shall be deemed to have been reserved for the University of Otago established under an Ordinance of the Legislature of the said Province and shall be granted to such University upon such trusts as shall be specified in any Ordinance of such Legislature thereafter passed AND WHEREAS it is expedient to declare such trusts.