University of Virginia Library

MEMORANDUM

                       

TO:	The Board of Visitors:
	John P. Ackerly, III, Rector
	Thomas J. Bliley, Jr.	Gordon F. Rainey, Jr.
	Charles M. Caravati, Jr.	Timothy B. Robertson
	William G. Crutchfield, Jr.	Terence P. Ross
	Charles L. Glazer	Elizabeth A. Twohy
	William H. Goodwin, Jr.	Walter F. Walker
	T. Keister Greer	Benjamin P.A. Warthen
	Elsie Goodwyn Holland	James C. Wheat, III
	Stephen S. Phelan, Jr.	Joseph E. Wolfe
FROM:	Alexander G. Gilliam, Jr.
SUBJECT:	Correction to the Minutes of the meeting of June 16-17, 2000

The Minutes of the Board of Visitors meeting of June 16-17, 2000, should be corrected as follows:

On the first page (page 6068 of the Annotated Minutes and page 5828 of the Public Minutes), the last paragraph before the Resolution should be changed to read as follows:

"As is customary at the Annual Meeting, the Rector confirmed appointments of Members to committees, the appointments having been made at the April meeting. As is also customary at the Annual Meeting, it was moved that the Executive Committee be re-elected, with Ms. Twohy nominated vice Mr. Clark, who was not reappointed to the Board by the Governor. The Board approved the nomination of Ms. Twohy and the re-election of the Committee."

The Resolution should be changed to read:

"RESOLVED that the Executive Committee is re-elected with Ms. Elizabeth A. Twohy to take the place of Mr. Champ Clark."

On the last page of the Minutes, just above the notice of adjournment (page 6112 of the Annotated Minutes and page 5870 of the Public Minutes), the following should be added:

The following resolutions were adopted by the Board of the University of Virginia Investment Management Company (UVIMCO) on May 31, 2000. They do not require action by the full Board of Visitors, and are included here as a matter of record:

RESOLVED by the Board of the University of Virginia's Investment Management Company that the investment of 25 million Euro with BC Partners, LP, is approved.

RESOLVED by the Board of the University of Virginia's Investment Management Company that the investment of $5.65 million with Crosspoint LS 2000 is approved.

RESOLVED by the Board of the University of Virginia's Investment Management Company that the investment of $5 million with Constitution Research & Management is approved.

RESOLVED by the Board of the University of Virginia's Investment Management Company that the investment of $10 million with BPI International is approved.

RESOLVED by the Board of the University of Virginia's Investment Management Company that on any position over $5 million, UVIMCO staff should talk to the UVIMCO Board about hedging.