Repository: UIHistories Project: Board of Trustees Minutes - 1958 [PAGE 451]

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44§

BOARD OF TRUSTEES

[ J u n e 20

which the appropriations were made. Appropriations to the University for the current biennium, 1955-57, will be available until September 30, 1957, but only for the payment of obligations for which commitments are made prior to July I, 1957. There will be some changes recommended in the contracts for the construction of the Band Building and the Home Economics Building which, however, could not be formulated for presentation to the Board of Trustees at today's meeting. It is therefore recommended that the Board of Trustees authorize the President of the University and the Vice-President and Comptroller to approve such changes in contracts for the construction of these two buildings which may be recommended by the Physical Plant Department, with the understanding that a report of any such changes authorized will be made to the Board at its next meeting. O n m o t i o n of M r s . H o l t , a u t h o r i t y w a s given as r e q u e s t e d . REPORT OF FINANCE COMMITTEE ON INVESTMENTS

Mr. Swain, for the Finance Committee, reported the following changes in investments of trust funds:

Purchase Endowment Funds — General $21,000 Alabama Power first 4 H per cent bonds due May 1, 1987 $20 895 00 32,000 Southern California Edison Company first of refunding mortgage series, H 4*4 per cent bonds due February 15, 1982 32 400 00 330 Shares of United States Steel Corporation common stock 20 984 99 Report of Comptroller Men's Residence Halls Revenue Bond Fund of 1957 — Construction (Authorized by Board of Trustees resolution of May 28, 1957, minutes page 408.) Purchase $1,017,000 U. S. Treasury Bills due August 1, 1957 $1 009 262 04 398,000 U. S. Treasury Bills due May 31, 1957 397 o n 63 316,000 U. S. Treasury Bills due June 27, 1957 314 574 05 326,000 U. S. Series C 2 per cent Treasury Notes due August 15, 1957 325 083 13 1,294,000 U. S. Treasury 3j4 per cent Certificates of Indebtedness Series D due October 1, 1957 1 295 213 13 1,594,000 U. S. 33-6 per cent Certificates of Indebtedness Series A due February 14, 1958 I 593 003 75 1,525,000 U. S. Treasury Notes Series A-igs8 2% per cent due June 15, J958 1 514 039 06 Women's Residence Halls Revenue Bond Fund of 1956 — Construction (Authorized by Board of Trustees resolution of September 18, 1956, minutes, page 52.) Sales $200,000 U. S. 3% per cent Certificates of Indebtedness Series D due October 1, 1957 $200 000 00 Transfer $40,000 U. S. Treasury 1% per cent notes due May 15, 1957, transferred from Women's Residence Hall Construction Fund to Men's Residence Hall Construction Fund. Dentistry-Medicine-Pharmacy Building Revenue Bond Fund — Construction (Authorized by Board of Trustees resolution dated March 18, 1951, minutes, page 632.) Purchase $10,000 U. S. Treasury bills due March 23, 1957 $9 939 65 10,000 U. S. Treasury bills due June 6, 1957 9 926 81 10,000 U. S. Treasury bills due June 20, 1957 9 934 S2 10,000 U. S. Treasury bills due July 5, 1957 9 935 °° 10,000 U. S. Treasury bills due July 18, 1957 9 922 65 10,000 U. S. Treasury bills due July 25, 1957 9 926 25

This report was received for record.