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