To ease the mind of Elisif and thus save the Festival, Viarmo wants to recite King Olaf's Verse, originally a part of the Poetic Edda, but lost for thousands of years. The Festival itself is centuries old and is, according to Viarmo, held to celebrate Solitude and the heroic acts of the mythical King Olaf who apparently slew Numinex, a fearsome dragon who terrorized Skyrim during the First Era.
The grieving widow, the recently appointed Jarl of Solitude, Elisif the Fair reasons that burning a King in effigy is distasteful at this time and wants the festival shut down. He explains that the ancient college ritual The Burning of King Olaf has been canceled due to the recent assassination of High King Torygg. When you enter the building, you will be greeted by Headmaster Viarmo he will explain a bit about the college and will proceed to hand you a task as part of your application to join.