1986 09
RESOLUTION OF THE BOARD OF TRUSTEES INVESTMENT ACCOUNTS RESOLUTION (Board of Trustees Meeting November 16, 1986) BE IT RESOLVED: (a) That the University of the Virgin Islands be, and it hereby is, authorized and empowered to open and maintain accounts with MERRILL LYNCH PIERCE FENNER & SMITH INC., and PRUDENTIAL-BACHE SECURITIES, INC., and their successors, by merger, consolidation or otherwise, and assigns, hereinafter called the brokers, for the purchase and sale of stocks, bonds, options, or securities, on exchanges of which the brokers are members or otherwise, and (b) that any of the officers hereinafter named be, and hereby is, authorized to give written or verbal instructions by telephone, or telegraph, or otherwise, to brokers to buy or sell stocks, bonds, options or securities, either for immediate or future delivery and, if such officer deems it proper, to secure payment therefor with property of this corporation; and he shall at all times have authority in every way to bind and obligate this corporation for the carrying out of any contract, arrangement or transaction which …
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RESOLUTION OF THE BOARD OF TRUSTEES INVESTMENT ACCOUNTS RESOLUTION (Board of Trustees Meeting November 16, 1986) BE IT RESOLVED: (a) That the University of the Virgin Islands be, and it hereby is, authorized and empowered to open and maintain accounts with MERRILL LYNCH PIERCE FENNER & SMITH INC., and PRUDENTIAL-BACHE SECURITIES, INC., and their successors, by merger, consolidation or otherwise, and assigns, hereinafter called the brokers, for the purchase and sale of stocks, bonds, options, or securities, on exchanges of which the brokers are members or otherwise, and (b) that any of the officers hereinafter named be, and hereby is, authorized to give written or verbal instructions by telephone, or telegraph, or otherwise, to brokers to buy or sell stocks, bonds, options or securities, either for immediate or future delivery and, if such officer deems it proper, to secure payment therefor with property of this corporation; and he shall at all times have authority in every way to bind and obligate this corporation for the carrying out of any contract, arrangement or transaction which shall, for or on behalf of this corporation, be entered into or made with or through the brokers; (c) and that the brokers are authorized to receive from this corporation, checks and drafts drawn upon the funds of this corporation by any officer or employee of this corporation, and to apply the same to the credit of this corporation or to its account with said brokers. The said brokers are authorized to 264 1 Arthur A. Richards Secretary of the Board hereby of Trustees of the University of the Virgin Islands, true and correct copy of a certify that the foregoing is a full, resolution duly and regu larly passed and adopted by the Board of Trustees of the University of the Virgin Islands at a duly c alled 16 Lf 198 6 Ll . meeting held on the day of November and that said resolution appears in the minutes of said meeting, and that the same has not be en rescinded or modified and is now in full force and effect. I further certify that said corpor- and has the power to ation is duly organized and existing, take the action called for by the foregoing resolution. Secretary