Proceedings of the Board of Regents (1939-1942)

OCTOBER MEETING, 1941 719
Brought forward.... $155,596.79
Plant Additions........................................... 8,515.91
Bond Retirement.......................................... 150,000.00
Bond Interest (payment coupon No. 14
and interest accrued on bonds retired).................... 34,178.02
Other Disbursements:
Golf Course............................ $ 18,941.47
Skating Rink........................... 6,356.16
Plant Maintenance and Operation:
Maintenance.......................... 23,080.24
Operation............................ 16,966.59
Programs and Publications................ 23,020.74
Women's Physical Education............... 4,097.11
Four-Year Course (Salaries, $1,982.50)..... 3,264.43
Office Salaries and General Expense......... 21,381.81
Bad Check Expense...................... 50.00 117,158.55
$465,449.27
Payment of Federal Admissions Tax......................... 36,849.12
Total Disbursezments.................................... $502,298.39
Cash Balance, June 30, 1941............................ 38,501.87
$540,800.26
STADIUM BOND ACCOUNT
As at June 30, 1941
Bonds Issued October 15, 1926 -Maturing October 15, 1946, with annual redemption of
one-twentieth guaranteed-Interest at 3%.............. $1,500,000.00
Deduct:
Bonds redeemedPrior to October 15, 1927................ $ 1,000.00
October 15, 1927....................... 50,000.00
October 15, 1928....................... 75,000.00
October 15, 1929....................... 75,000.00
October 15, 1930....................... 75,000.00
January 15, 1937...................... 37,500.00
January 15, 1938...................... 37,500.00
December 15, 1938..................... 50,000.00
December 15, 1939..................... 75,000.00
December 15, 1940..................... 150,000.00*
$626,000.00
Unissued Bonds (subscriptions canceled)...... 1,000.00
Bonds donated-21 at $500.00............. 10,500.00
Bond No. 1986 issued as duplicate to replace
No. 856 lost........................... 500.00
Balance unpaid on Bond No. 2749 sold on installment plan.......................... 400.00 638,400.00
Bonds Outstanding as at June 30, 1941,
Not Called for Redemption............................ $ 861,600.00
Bonds Outstanding as at June 30, 1940...................... $1,012,100.00
Deduct:
Deposit on December 15, 1940, for
redemption of bonds.................... $150,000.00
Bond No. 462 donated June 20, 1941........ 500.00 150,500.00
Bonds Outstanding as at June 30, 1941,
Not; Called for Redemption............................ $ 861,600.00
* As at June 30, 1941, the Ann Arbor Savings and Commercial Bank held funds
totaling $5,000.00 for the redemption of ten bonds called December 15, 1940, which had
not been surrendered for payment.