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Divestmentc°nli,ll"!d fromP---'
dent investor rule, which requires those investing
public funds to seek the highest return with the
lowest risk. If a divestment decision cannot be
reconciled with that rule, divestment would be
ruled out.
Carter said she did not think this stipulation
would make the bill ineffectual by giving the
treasurer an excuse for not divesting. The
treasurer would be required to face the
Legislature and explain why he considered it too
risky to divest. Carter said,
“This bill puts a duty on the treasurer that
will be closely watched,” said Rep. Tom Hanlon,
D-Cannon Beach, chair of the committee.
But Treasurer Bill Rutherford, an opponent
of divestment, said the prudent investor rule
prevents him from divesting any funds. Ruther
ford said a Lane County circuit judge recently rul
ed that divestment is violation of the prudent in
vestor rule in all cases.
“1 think it’s a foolish piece of legislation that
doesn’t do anything,” Rutherford said. "If they
want to divest, they should say that. If they don’t
have the courage to do that, they shouldn’t pass a
law saying ‘violate the law if you think it’s
okay.’ ”
Rutherford said he has suggested creating a
separate fund free of South African investments
and giving state retirees the option of having their
retirement money invested in the "clean” fund.
Finding alternative investments could be achiev
ed on a small scale, but cannot be achieved with
the large funds named in the bill.
Research park
Continued from Page 5
The ASUO wants the administration to in
clude a ban on classified research, such as
governmental defense research, in the list of
development restrictions.
“But the administation is opposed to the idea
because they are afraid of discouraging
developers,” So wards says.
Although classified research is banned from
campus, Hersh says the University has no right to
"impose” the same ban on Riverfront Park
developers. Once the University leases the land,
it can no longer legally control the development
that occurs there, Harsh says.
The non-profit corporation will be the legal
entity to whom the University will be leasing the
master developer for the project and write a con
tact with them. Before that, the University will
formally lease the land to the corporation,”
Williams says.
“We want to see the issues addressed. We
don’t want a total lack of participation before all
the papers are signed,” Sowards says.
The possibility of classified defense research
is only one of the coalition's concerns, Sowards
says. “We’re also concerned about the economic
feasibility and the environmental impact of high
tech development in the area,” she says.
The Planning Commission will hold a public
hearing on the Riverfront Park draft plan May 20.
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Expires: June 15, 1985
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The Oregon Daily Emerald
wishes to invite you
to gain valuable journalism experience
by becoming a part of your student newspaper.
Applications are now being taken for all staff positions for
the 1985-86 school year, including the following positions:
News Editor
Managing Editor
Editorial Page Editor
Editorial Page Assistant Editor
Sports Editor
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Sidelines Editor
Friday Edition Editor
Graphic and Supplements Assistant
Associate Editor positions include:
Higher Education
Student Government
Administration
Student Activities
Features
Community
General Assignment
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The deadline for applying for Managing Editor and New* Editor la‘May 13 at 5
p.m. Application* for all other positions are due May 20 at 5 p.m. Applications
and fob descriptions are available at the Emerald office. EMU Suite 300 The
Emerald is an affirmative action, equal opportunity employer Women and
minorities are encouraged to apply.
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