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[9]

Part of Minutes of the University of Kentucky Board of Trustees

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9 Each section of the Financial Report was explained in detail. Members of the Board being advised, upon motion duly made, seconded and carried, the report was authorized received and made of record. C. Investment of Temporary Funds. The Treasurer reported that the University had temporary funds aggregat- ing in excess of $500, 000, which could be invested in U.S. Treasury Notes. He recommended that this sum be invested in government securities maturing June 24, 1957, and yielding an interest rate of approximately 3. 2. Upon motion duly made, seconded and carried, the recommendation was approved and the sum of $500, 000 was authorized invested in government bonds due to mature June 24, 1957. The Treasurer also recommended the investment of $20, 000 of group funds in voted Boyd County revenue bonds due in 1970-71, These bonds bear an interest rate of 3-3/4 and are purchased to yield approximately 3. 6. The Board discussed the investment, and upon motion duly made, seconded and unanimously carried, authorized $20, 000 invested in Boyd County voted obli- gations. D. Student Organization Bonds Mature. The Treasurer, as custodian of investments of student organizations, re- ported that the following securities had matured and had been withdrawn from the lock box and submitted for payment, The proceeds as received will be deposit- ed to the credit of the various organizations. The schedule of maturing bonds- investments held by the Custodian is as follows: Name of Fund Amount Bond Serial Number Student Government Association Lances Junior Menv s Honorary Lances Junior Men, s Honorary Lances Junior Men, s Honorary SuKy Circle SuKy Circle SuKy Circle SuKy Circle Scovell Chapter of Scovell Chapter of Scovell Chapter of Alpha Zeta Alpha Zeta Alpha Zeta $ 500. 00 $ 100. 00 25. 00 25, 00 $ 15 0. 00 $ 1900 00 100, 00 100. 00 500. 00 $ 800 00 $ 25. 00 25. 00 25. 00 $ 75, 00 D3 1870 iF C546743F Q245160F Q245161F C 136173 1G C 1361730G C 1361729G D758609G Q383782F Q383783F Q383781F