SUBJECT: Public Fund Investments
DESCRIPTION: The Treasurer reports the following public fund investments:
|
Amount Amount |
Investment Period | Date of Investment | Public Fd Rate | Successful
Bidder |
Rate |
| $750,000 | 90 days | 10-15-99 | 5.88% | MIP's | 5.88% |
| $100,000 | 180 days | 10-15-99 | 5.87% | MIP's | 5.88% |
| $500,000 | 180 days | 10-15-99 | 5.87% | MIP's | 5.88% |
| $400,000 | 180 days | 10-22-99 | 5.86% | Kaw Valley | 5.85% |
Bids for investment of the University's public funds are solicited from area financial institutions in accordance with University policy and in conformance with State law regarding public fund investment (K.S.A. 9-1401 et. seq.)
FINANCIAL IMPLICATIONS:
This investment will generate the following interest income at maturity:
| Agency | 2,884.93 |
| Capital Improvement | 10,873.97 |
| Building & Construction | 8,669.60 |
| Benefit | 17,383.56 |
| Total | $39,812.06 |
RECOMMENDATION:
President Farley recommends approval by the Board of Regents of the Public Fund Investments reported in the description above.
_____________________ ______________________________
(date) Jerry B. Farley, President