Caption: Board of Trustees Minutes - 1964
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1214 BOARD OF TRUSTEES [May 20 so filed may be revoked at any time by the employee upon filing a written revocation with the University. 2. The initial effective date for any employee's adjustment in earnings hereunder shall be July 1, 1964. 3. The following insurance companies are selected as those from which the University may purchase the annuity contracts referred to in said Section 166(c) of Chapter 127 of the Illinois Revised Statutes, and the amount of the adjustment in each employee's earnings shall be paid to one or more of said companies to be applied as a premium on an annuity contract or contracts under which such employee's rights are non-forfeitable except for failure to pay future premiums: The Continental Assurance Company The Massachusetts Mutual Life Insurance Company The Northwestern Mutual Life Insurance Company Prudential Insurance Company of America Teachers' Insurance Annuity Association 4. These rules may be amended or supplemented by the Board of Trustees from time to time. On motion of Mr. Swain, these recommendations were approved, and the proposed rules were adopted. INVESTMENT R E P O R T R e p o r t of t h e F i n a n c e C o m m i t t e e (42) Mr. Swain, for t h e Finance Committee, presented the following changes in investments of endowment funds for the month of March, 1964: Pool Purchase $ 5 000 20/100 share Miller Sale 200 shares 1,000 shares Purchase: $ 50 000 U. S. Treasury bonds 4 per cent Eastman Kodak common stock 2/15/80 4 925 00 25 63 Abbott Laboratories common stock T a m p a Electric common stock U. S. Treasury bonds 4 per cent 10/15/69 J 24 379 21 25 007 28 $ 49 906 25 R e p o r t of t h e C o m p t r o l l e r T h e Comptroller reported the following changes in investments of current and un expended plant funds, over which he has authority as indicated: Current Funds Restricted Group (June 20, 1962) Purchase $ 250 000 000 U. S. Treasury bills 850 000 U. S. Treasury bills 700 000 U. S. Treasury bills 500 000 Commercial Credit promissory notes 300 000 Household Finance promissory notes Construction Funds Assembly Hall (June 23, 1959, and March 17, 1962) Purchase $ 100 000 U. S. Treasury bills Illini Union and Health Center (December 21, 1960) Purchase $ 160 000 U. S. Treasury bills Illinois Street Residence Halls (October 17, 1962) Purchase $ 55 000 U. S. Treasury bills 3/26/64 4/30/64 7/30/64 7/30/64 9/15/64 $249 845 691 439 293 672 36 992 92 052 36 057 29 929 17 7/16/64 % 98 783 39 6/11/64 $158 685 87 6/11/64 $ 54 530 80
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