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USC Board of Trustees
Executive Committee
Telephone Conference Call
October 31, 2000

The Executive Committee of the University of South Carolina Board of Trustees met on Tuesday, October 31, 2000, at 3:45 p.m. in Room 206-B of the Osborne Administration Building.

Committee members present via telephone were: Mr. Mack I. Whittle, Jr., Chairman; Mr. Herbert C. Adams; Mr. James Bradley; Dr. C. Edward Floyd; Mr. William C. Hubbard; and Mr. Michael J. Mungo.

Others present in the room were: President John M. Palms; Secretary Thomas L. Stepp; Vice President for Academic Affairs and Provost Jerome D. Odom; Vice President for Human Resources Jane M. Jameson; Vice President for Student and Alumni Services Dennis A. Pruitt; General Counsel Walter (Terry) H. Parham; Vice Provost and Dean for Libraries George D. Terry; Executive Director for University Foundations Susie H. VanHuss; Associate Provost and Dean of Undergraduate Affairs Donald J. Greiner; Associate Provost John N. Olsgaard; Senior Director for Planned Giving and Legal Liaison for University Foundations Harriette D. Wunder; Professor in the Department of English Matthew J. Bruccoli; Director of Public Affairs Russell McKinney; and Public Information Coordinator, Office of Media Relations, Jason Snyder.

Chairman Whittle called the meeting to order and welcomed those present. He asked everyone present in the room to introduce themselves, and Jason Snyder stated that no members of the media were present. Chairman Whittle stated that notice of the meeting had been posted and the press notified as required by the Freedom of Information Act, the agenda and supporting materials had been circulated to the members of the Committee, and it was determined via roll call that a quorum was present.

Open Session

I. Purchase of Materials for Library Collection: Dr. Palms said that it had been proposed for the University of South Carolina to acquire, from Ellen Speiser Katz, the last great Ernest Hemingway collection in private hands. The collection, previously inaccessible to scholars, was formed by Hemingway's longtime friend, lawyer, and literary adviser, Maurice J. Speiser (1880-1948). This collection would complement the University's previous acquisitions and draw worldwide attention in the Bicentennial year. It was an ideal match for the Thomas Cooper Library which was already home to the Matthew J. and Arlyn Bruccoli collection of F. Scott Fitzgerald, the Joseph Heller papers, the library of James Dickey, the James Ellroy archive, and other modern American collections.

Mr. Edward Hallman and the Easterling-Hallman Foundation had agreed to donate funds over a five year period to the University to assist with the purchase of the collection. The USC Educational Foundation agreed to lend funds to the University for the purchase of the collection with a majority of the principal to be repaid with the funds donated by Mr. Hallman.

Secretary Stepp read five proposed motions. The first proposed motion was to authorize the University to acquire from Ellen Speiser Katz the literary materials listed in the inventory entitled "The Papers and Books of Maurice J. Speiser, A Catalogue" for the sum of $900,000, and to recognize a gift from Ms. Katz of the difference between the purchase price and the appraised value of the collection. Mr. Mungo so moved, and Mr. Bradley seconded the motion. The vote was taken via roll call, and the motion carried.

The second proposed motion was to authorize the University, through its Educational Foundation, to accept a gift of $750,000 from Edward S. Hallman and the Donald C. Easterling-Edward S. Hallman Foundation, said funds to be used by the University to purchase the collection from Ms. Katz. Mr. Bradley so moved, and Mr. Adams seconded the motion. The vote was taken via roll call, and the motion carried.

The third proposed motion was to authorize the University to name and maintain the collection in recognition of Ms. Katz, the Speiser family, Mr. Hallman, and the Easterling-Hallman Foundation, said name to be mutually agreed upon by the respective donors and approved by the President of the University. Mr. Mungo so moved, and Mr. Bradley seconded the motion. The vote was taken via roll call, and the motion carried.

The fourth proposed motion was to authorize the University to borrow $800,000 from the USC Educational Foundation for the purchase of the collection from Ms. Katz, said amount to be repaid by the University Libraries, plus interest at the rate of 7 percent per annum, according to a repayment schedule to be mutually agreed upon by the University Libraries and the Educational Foundation, with the understanding that the University Libraries' obligation to repay said amount shall be forgiven to the extent that funds are received by the USC Educational Foundation from Edward S. Hallman and the Donald C. Easterling-Edward S. Hallman Foundation. Mr. Mungo so moved, and Mr. Bradley seconded the motion. The vote was taken via roll call, and the motion carried.

The fifth proposed motion was to authorize the Secretary of the Board of Trustees to execute all necessary and appropriate documents consistent with the authorizations granted herein by the Executive Committee, acting on behalf of the Board of Trustees. Mr. Bradley so moved, and Mr. Mungo seconded the motion. The vote was taken via roll call, and the motion carried.

Mr. Bradley commented that this purchase would actually cost the University $216,000, and Mr. Mungo requested that a copy of the five motions be faxed to the members of the Executive Committee.

Mr. Whittle declared the meeting adjourned at 4:20 p.m.

Respectfully submitted,
Thomas L. Stepp
Secretary