RESOLUTION: REGARDING SALE OF STOCKS 1€9 — May 18, 1980
( RESOLU? 1021S REGARDING SALE OF STOCKS RESOLUTION: REGARDING SALE OF STOCKS 1€9 ( Board of Trustees Meeting, May 18, 1980) Regarding Resolutions 3, 4 and 5 — 1930, Mr. Eirwen explained that they emanated from meetings of the Investment Comnittee of 3 = 1980 the College. With specific reference to Resolution governing the sale of odd-lot certificates, he pointed out thet the stock was unrestricted and that the proceeds would be used for the resular operations of the College. Before action wes teken to approve Resolution 3 - 1980, $ 3 ; + Anbessedor Todman remarked that since the Board of Trustees hed an - : ws : aS 3A r +- Investnent Committee in which it hed confidence, the Investment : : 5 Steyr + Sat i aa + 3s 1 Committee ought to be given the authority to Geternine the disposal itions, the needs of antl of stocks after duly considering mnerket conc will Pa - AE the College, and the special conditions for which the stocks had x * ae s s+ > = tnz=s 7 been given. …
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( RESOLU? 1021S REGARDING SALE OF STOCKS RESOLUTION: REGARDING SALE OF STOCKS 1€9 ( Board of Trustees Meeting, May 18, 1980) Regarding Resolutions 3, 4 and 5 — 1930, Mr. Eirwen explained that they emanated from meetings of the Investment Comnittee of 3 = 1980 the College. With specific reference to Resolution governing the sale of odd-lot certificates, he pointed out thet the stock was unrestricted and that the proceeds would be used for the resular operations of the College. Before action wes teken to approve Resolution 3 - 1980, $ 3 ; + Anbessedor Todman remarked that since the Board of Trustees hed an - : ws : aS 3A r +- Investnent Committee in which it hed confidence, the Investment : : 5 Steyr + Sat i aa + 3s 1 Committee ought to be given the authority to Geternine the disposal itions, the needs of antl of stocks after duly considering mnerket conc will Pa - AE the College, and the special conditions for which the stocks had x * ae s s+ > = tnz=s 7 been given. Members agreec with his line of reesor=ng ubject to the conditions, as Attorney Ecrnn suggested, that the Board be informed of such sales, end es Dr. Evens insisted, that e monetary ae ad limit be placed on the azrount of stocks that could be disposed of by the Investment Committee without prior approval of the Board. Following the discussion, s=t=ssedor Todman moved that decisions Colleceibe determined bv the Investment Committee of the Boerd of bed : : . : ora Trustees which deals with these natters, that special conditions governing the disposal of stocks be resvected, and that a report of such sales be made to the toerd of Trustees, except that sales $n excess of one million Golliezs should secure the prior permission of the Board as 2 whole. The zotion was seconded and approved, with Judge Hodge ovnvosed.