5.375 $72.03 $ 18,008 $1,344 100 43,000
8192 MINUTES OF THE MEETING of the MICHIGAN STATE UNIVERSITY FINANCE COMMITTEE July 19, 1974 President Wharton called the Finance Committee meeting to order at 8:38 a.m.: The following members were present: Trustees Huff, Martin, Merriman, Radcliffe, Stack, •Stevens and Thompson; President Wharton, Executive Vice President and Secretary Breslin, [Vice President Wilkinson, Provost Cantlon, Vice Presidents Nonnamaker and Scott, Assistant to the President Ballard, Attorney Carr. [Absent:.: Trustee Carrigan Bond transaction:!. The following bond transactions have been completed by Scudder, Stevens & Clark: approved ; • I Consolidated Investment Fund ; Approx. Amount Security Rate Price Principal Income Recommend selling: $25,000 International Bank for 5.375 $72.03 $ 18,008 $1,344 Reconstruction & Development due 7-1-91 $43,000 Commercial Paper- 10.000 100 43,000 4,300 *Note that approximately $40,000 is the result of recent sale of 400 shares Texas Instruments Recommend purchasing: $60,000 Federal Home Loan Bank 8.650 100.3125 60,188 5,190 Notes due 2-26-79 Retirement Fund Recommend selling: $100,000 Province of Ontario 4.750 74 74,000 4,750 due 2-1-84 $175,000 American Tel. & Tel. 3.250 64.31 112,543 5,688 due 9-15-84 $100,000 Shell Oil due 8-1-86 4.625 73.87 73,870 4,625 $150,000 International Bank for 5.375 72.03 108,045 8,063 Reconstruction & Development due 7-1-91 $145,000 Pacific Gas & Electric 5.750 69.306 100,494 8,338 due 12-1-98 $204,000 Commercial Paper 10.000 100 204,000 20,400 Recommend purchasing: $670,000 Federal Home Loan Bank 8.650 100.3125 672.094 57.955 Notes due 2-26-79 Insurance Fund Recommend selling: $25,000 International Bank for 5.375 72.03 18,008 1,344 Reconstruction & Development due 7-1-91 $2,000 Commercial Paper 10.000 100 2,000 200 Recommend purchasing: $20,000 Federal Home Loan Bank 8.650 100.3125 20,063 1,730 Notes due 2-26-79 ! RESOLVED that the investment report as submitted be approved, I Unanimously approved.
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