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SMITHSONIAN INSTITUTION
SUMMARY PROCEEDINGS OF THE BOARD OF REGENTS
May 7, 1990

[[underlined]] REPORT OF THE EXECUTIVE COMMITTEE [[/underlined]]

The Executive Committee met on April 26. Discussing the proposal to enhance funding for the Office of Membership and Development, the Committee noted that further steps beyond this initial period must be weighed in the light of discernible progress, and the Committee suggested that outside fundraising counsel might be of assistance in this regard. After noting that the report on equal opportunity reflects more progress and effort than generally recognized, the Committee urged continued vigilance and effort toward expanded opportunities for minorities. 

Staff indicated that the Investment Policy 
Committee's proposed payout for endowment funds in fiscal year 1991, while increased from the current year, can be expected to leave $1.9 million for reinvestment. The Executive Committee agreed with this essentially prudent approach.

[[underlined]] PROPOSED AMENDMENTS TO THE BYLAWS OF THE BOARD OF REGENTS [[/underlined]]

The Chancellor noted that this proposal restates the position discussed by the Regents at their last meeting, to make more explicit the authority of the Secretary in executing property transactions. It was

VOTED that Sections 6.01 and 6.06 of the Bylaws of the Board of Regents, Authority to Receive and Dispose of Property and Execution of Documents, are revised to assist in handling essentially routine administrative responsibilities under Secretarial authority.

The revised sections read as follows:

Section 6.  Administration

6.01 AUTHORITY TO RECEIVE AND DISPOSE OF PROPERTY

In accordance with policies established by the Board of Regents, the Secretary may accept or receive for the Institution gifts, grants, bequests, and other transfers of real and personal property, and may hold and dispose of the same in promotion of the purposes of the Institution, and shall administer and budget the use of such property for the purposes specified, if any. The Secretary may delegate this authority to employees of the Institution. (See also 20 U.S.C. 55.)

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