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however, a resolution was requested of the Board giving the Treasurer express authority to reinvest these funds at his discretion. The Board of Regents:

VOTED, That the Treasurer may invest such current funds as are not required for operating purposes in bills or notes of the U.S. Treasury or of U.S. Government agencies, in bank Certificates of Deposit, or in high-grade commercial paper, and also may sell such investments before maturity when funds are necessary for approved commitments, [[underlined]] provided [[/underlined]] that the maturities of such investments shall be restricted to approximately one year or less from date of purchase.