| OCR Text |
Show 250 FINANCE CQMMITTEE Regent Eccles reporting for the Finance Com- mittee stated that $50, 000 of ASUU funds are in- vested in "G" bonds and that it will be necessary to sell a part of these bonds to provide available cash to carry on the activities operations during the summer months when but little cash is coming in. The Finance Committee recommends the sale of the amount of bonds necessary to meet our needs, and he therefore so moved, which motion was seconded by Regent Woolley and carried. He reported that the University has received the money on the $1, 800,, 000 Union Building Bond issue and the amount has been deposited with the State Treasurer to the credit of the State Building Board. Since most of this money will net be needed for con- struction purposes for several months, the State Treasurer has been requested to invest a part of this money in U, S, Treasury bills, maturing in ninety days. It was reported by Regent Eccles that the Finance Committee had been advised by the First Security Trust Department that it had purchased $120, 000 in U,S,, Treasury bills issue of June 3 1954 due September 2, 1954, for $119, 784. 00. This investment was made from funds deposited by the University to a sinking |
