I MINUTES OF THE EXECUTIVE SESSION j of - Michigan State ...

i$3*&f&
Investment
Items, cont.
Sale of Hydromation
Filter
Go. stock
approved
Roadway Express j
and International
Paper Co.
added to stock \
buy list I
Report of allocation
of
$100,000 from
Gen.Fund to
Insurance Fund
$275,000 allocated
from Gen.
Fund to Plant
Fund for
Physics-Astro.
Bldg.
Reports re:
Coal inventory; \
Sick-pay benefitj;
Nat'1'Direct j
Student Loan j
Program 1
Affiliation
agreement between
Col. of
Osteo. Med. and
Detroit Osteo.
Hosp. approved
MSU/AEC Plant
Research Lab.
changed to
MSU/ERDA Plant
Research Lab.
D, OTHER ITEMS FOR ACTION, continued September 26, 1975
1. Investment Items, cont.
e. Sale of Hydromation Filter Co. Stock
This is to advise that 2,000 shares of Hydromation Filter Co. accepted
at the July Board meeting were liquidated on July 23, 1975 for a net
amount of $7,000. This stock was a gift from Mr. Gene Hirs for the
Advanced Management Program.
RESOLVED that the report of the liquidation of the above
stock be accepted.
Unanimously approved. Motion by Trustee Huff, seconded by Trustee Martin.
f. Additions to Investment Stock Buy List
At the July 18, 1975 meeting, the Board of Trustees, upon recommendation
of the Trustee Investment Committee, withheld placing Roadway Express and
International Paper on the investment stock buy list of the University
pending receipt of additional information from the investment counsel.
The Trustee Investment Committee considered the additional information at
its August 20, 1975 meeting and now recommends that Roadway Express and
International Paper be placed on the buy list of the University.
RESOLVED that Roadway Express and International Paper be added
to the stock buy list of the University
Unanimously approved. Motion by Trustee Carrigan, seconded by Trustee Stevens.
2. a. As previously reported to the Board of Trustees, $100,000 was allocated
from the General Fund to the Insurance Fund to reimburse this account
for the loss relating to the Human Ecology fire. An additional $100,000
was allocated for remodeling the Human Ecology Building relating to fire
safety.
b. The amount of $275,000 was allocated from the General Fund to the Plant
Fund to complete the funding of the Physics-Astronomy Building addition.
c. Other actions previously reported to the Board of Trustees include the
reporting of the University's coal inventory at a 90-day supply in the
Plant Fund of the University, a recognition of the sick-pay benefit as
a terminal retirement benefit in the Retirement Fund of the University,
and an increase in the allowance for uncollectible accounts under the
National Direct Student Loan Program from $750,000 to $825,000. Detail
of the latter three actions previously reported to the Board of Trustees
will be on file with the minutes of this Board meeting in the Secretary's
Office.
3-. In keeping with previously established policies and procedures, the College
of Osteopathic Medicine has requested approval of an affiliation agreement
between the University and the Detroit Osteopathic Hospital Corporation for
development of teaching programs in health care.
| The proposed agreement is essentially the same as prior agreements with other
j hospitals. It has been examined by the Office of the Dean, College .of. .Osteo-
| pathic Medicine, by the Office of the Provost, and by the University Attorney.
j The agreement comes to the Board of Trustees with the Administration's recom-
| mendation that it be approved.
j RESOLVED that the affiliation agreement between Michigan State
| University, College of Osteopathic Medicine, and the
I Detroit Osteopathic Hospital Corporation be approved.
|
jUnanimously approved. Motion by Trustee Stevens, seconded by Trustee Radcliffe.
4. The abolition of the U. S. Atomic Energy Commission (AEC) and the establishment
of the Energy Research and Development Agency (ERDA) became effective January 1,
1975. The Board-approved name of the laboratory under the direction of Dr. Anton
Lang is the MSU/AEC Plant Research Laboratory.
A request has been forwarded from the Acting Director of the Laboratory to change
its name to comply with the name of the Laboratory's main funding agency. This
request has been examined by the Office of the Provost and comes to the Board with
the Administration's recommendation for approval. The name of the building which
houses the Laboratory would continue to be Plant Biology Laboratories.
RESOLVED that the name of the MSU/AEC Plant Research Laboratory shall
be changed to MSU/ERDA Plant Research Laboratory.
Unanimously approved. Motion by Trustee Carrigan, seconded by Trustee Huff,
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