Office of the President
                                       August 26, 1983




                                       FCRS8

Members, Board of Trustees:

          QUASI-ENDOWMENT OF BLUE-WHITE FUNDS
Recommendation: that the Board authorize the establishment of
a quasi-endowment fund for Blue-White monies and authorize
the President to approve the transfer of funds to the quasi-
endowment fund with the income from such funds being allocated
for the use and benefit of the University's intercollegiate
athletics program.
Background: The Board of Directors of the Athletics Association
has formally requested that the Board of Trustees quasi-endow
now and in future times certain monies within the Blue-White
Fund which are maintained within the University. The long-term
objective of the Association is to build an endowment that will
fully support student athlete scholarships. In order to expedite
the quasi-endowment of Blue-White funds, it is requested that
the President be given authority to direct the investment of such
funds upon formal request of the Athletics Association.



Action taken: Approved   X     Disapproved



Other_ _



Date:       Auaust 26



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