COMMITTEE ON INVESTMENTS

WHEREAS, The Lincoln University Board of Trustees appointed an ad hoc committee on investments to change/invest/re-invest University funds in accordance with the authority and limitations given and imposed by resolution of the Board of Trustees; and

WHEREAS, The Ad Hoc Committee on Investments is responsible for providing advice to the Board of Trustees and Treasurer of the University regarding the management of the University's endowment; approval of endowment investment guidelines, objectives, and spending policies; and the review of the selection of investment advisors and consultants and the review of the performance of investments; and

WHEREAS, The Board of Trustees desires to amend the University by-laws to permanently add a committee on investments to its structure of standing committees; and

WHEREAS, Pursuant to Article V, Section 1 of the University By-Laws, the Chair and membership of each committee established shall be appointed by the Chair of the Board subject to the approval of the Board; and

WHEREAS, The University by-laws may be amended, altered or repealed at any regular or special meeting by majority vote, so long as notice is given in the notice of the meeting at which action on such amendment is to be considered; therefore, be it

RESOLVED, That the Committee on Investments be included in Article V, as Section 17 of the University By-Laws; and be it further

RESOLVED, That the Chair of the Board of Trustees will appoint an ad hoc By-Laws Committee to prepare an amendment to facilitate this change.