That's right, Dr. Bill. From Smith's Dictionary of Greek and Roman Antiquities (http://makeashorterlink.com/?G10856283):

The term is derived, according to Philander (Comment. in Vitruv.), from basileuvV, a king, in reference to early times, when the chief magistrate administered the laws he made; but it is more immediately adopted from the Greeks of Athens, whose second archon was styled arcwn basileuvV, and the tribunal where he adjudicated stoa` basivleioV (Paus. i.3 §1; Demosth. c. Aristogeit. p776), the substantive aula or porticus in Latin being omitted for convenience.

Bingley

Bingley