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-59- [[underlined]] South Quadrangle Project [[/underlined]] The Secretary introduced the following report on the Quadrangle project and referred to the Treasurer's recommendation, with which the Regents agreed, to set aside unrestricted trust funds to match anticipated Federal support for planning in the Institution's budget for fiscal year 1981. In response to a questions from the Board, Mr. Ripley outlined the nature of Charles Lang Freer's gifts and will, their restrictions, the relationship between the Freer Gallery and the Institution over the years, and the prospective relationship between the Freer Gallery and its proposed adjunct, the Gallery of Asian Art. The Secretary's full report on the status of the Quadrangle project follows. * * * *