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of two parcels of land which fall within the natural boundaries of the existing Front Royal property.

[[underlined]] AIR & SPACE MAGAZINE [[/underlined]]

Mr. Adams introduced a report which indicates that the [[underlined]] Air & Space [[/underlined]] Magazine appears to have had not only solid financial success but also outstanding and highly popular editorial content.


Mr. Adams introduced a report on technical considerations which are part of the Smithsonian's approach to how "debt swaps" and related financial devices could be utilized to lend significant support to Smithsonian projects overseas.  Such means have been used recently by other humanitarian organizations and have received the blessing of Treasury Secretary Baker as having negligible impact on the United States' economic position.  Mr. Adams emphasized that the complexities inherent in these transactions require that the Smithsonian obtain outside expertise and assistance.  In discussion it was pointed out that the success of these arrangements depends heavily on the willingness of the host country to honor the debt at full face value.


It was reported that in lieu of the Directorate of International Activities the Secretary had asked the four programmatic Assistant Secretaries (Messrs. Freudenheim, Hoffman, Lovejoy, and Rinzler) to form themselves into an "International Activities Council."  On April 6 the Council announced a reorganization of various parts of the former Directorate of International Activities, creating new supervisory lines of authority as well as some new staff assignments.

[[underlined]] ANNUAL REPORT FOR 1987 [[/underlined]]

VOTED that the Board of Regents accepts the Annual Report of the Secretary for Fiscal Year 1987.

[[underlined]] LEGISLATIVE ACTIONS AND ISSUES [[/underlined]]

On February 2 the Senate passed S. 908 which would amend the Inspectors General Act of 1978.  During debate on the measure Senator Sasser and Senator Garn engaged Senator Glenn in a discussion to clarify application of the bill to the Smithsonian.  H.R. 4054, introduced by Rep. Jack Brooks on March 2, is identical to a bill passed in the 99th Congress, but whose differences were not resolved prior to adjournment; the measure, which contains no reference to the Smithsonian, has been referred to the Committee on Government Operations, as has S. 908.

On April 19 the Senate Committee on Rules and Administration ordered reported S. 1790, the bill introduced by Senator Garn and others to authorize the planning and construction of facilities for the National
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