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WHEREAS, The Pennsylvania Economic Development Financing Authority Revenue Bonds, Series 2004A and 2004B, issued by Lincoln University on June 10, 2004, require prudent investment of its Debt Service Reserve; and

WHEREAS, The University determined that the proper investment vehicle was an Uncollateralized Guaranteed Investment Contract; and

WHEREAS, The University conducted a public bid utilizing as bid agent, Public Financial Management who had been previously selected during the 2004 bond issuance process; and

 WHEREAS, The successful bidder was MBIA, Inc. with a rate of return of 5.347% for 30 years for the contract period August 23, 2007 – June 1, 2036; therefore, be it

 RESOLVED, That the Uncollateralized Guaranteed Investment Contract with MBIA, Inc. is hereby approved.