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Members:
Scott Bagley Emily H. de Montluzin Keith S. Folse Mary Langenbacker
Officers:
Ellis C. Cuevas, President C. Joseph Wusnack, Vice-President Emily Lorraine de Montluzin, Secretary-T reasurer
Helen H. Mestayer Carrie A. Smith Richard L. Thomas Pierce P. White
Dorothy di Benedetto, Honorary Member George di Benedetto, Honorary Member
To the Board:
This is to let you know that, in accordance with the motion passed by the Board at its meeting of 8 May 2009, the Scholarship Fund?s 24-month Hancock Holding Company CD was closed at maturity on 20 May 2009 in the amount of $1,389.36, and the Fund?s Washington Mutual Bank CD was closed at maturity on 30 June 2009 in the amount of $26,000.00.
To replace them, the Scholarship Fund has purchased $30,000.00 in municipal bonds: North Fort Bend Water Authority Texas Water System Revenue bonds, maturing in December 2034, callable in December 2019. These bonds are insured by Assured Guaranty, AA-rated, and pay 5.25% per year in interest. This investment will thus produce $1,575.00 per year for the Scholarship Fund.
Emily de Montluzin Foreign Language Scholarship Fund
1861 Brigadoone Lane Florence, South Carolina 29505 tel: 843-413-9345
Interim Treasurer?s Report
8 July 2009
Respectfully submitted,
Lorraine de Montluzin Secretary-T reasurer