Repository: UIHistories Project: Board of Trustees Minutes - 1990 [PAGE 146]

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BOARD O F T R U S T E E S

[November 15

6. Assign the contract for general work, purchase contract of Cooper Bessemer Reciprocating, and purchase contract of Ideal Electric Company for payment to the Lessor/Trustee. It is now anticipated that the sale of the certificates of participation required for the financing will be received on or near November 20, 1990, within the limits previously approved by the board. A schedule of the bids received and a description of the alternate have been filed with the secretary of the board for record. (Note: A proposal was received for the plumbing division of work from G. F. Connelly Mechanical Contractors, Inc., the apparent low bidder. However, the firm has notified the University of an error in its bid and requested permission to withdraw it since, due to the error, it could not fulfill its contractual obligation without suffering economic hardship. T h e Office for Capital Programs has determined that there is demonstrable evidence that the bidder made a bona fide error in the preparation of its bid which will result in a substantial loss to the bidder, and has recommended that the bidder be allowed to withdraw its bid. T h e university counsel has advised that, under these circumstances, the University's regulations allow the University to permit the withdrawal.)

University of Illinois Board of Trustees' Resolution Authorizing Lease of Property, Chicago Campus Cogeneration Project

Be It, and It Hereby Is, Resolved that the Comptroller, with attestation by the Secretary, is hereby authorized to enter into a lease with the First National Bank of Chicago as lessee for a lease price of One Dollar and other good and valuable consideration for nine years or until termination of the installment purchase agreement for the building housing the cogenerators on the following described real property: A tract of land in the West xh of the Southeast VA of Section 17, Township 39 North, Range 14 East of the Third Principal Meridian in the City of Chicago, Cook County, Illinois, bounded and described as follows: Beginning at a point in the North line of West Roosevelt Road, 271.27 feet West of the West line of South Morgan Street; thence North 89 degrees, 58 minutes, and 34 seconds West along the North line of said West Roosevelt Road, a distance of 274.18 feet; thence North 33 degrees, 47 minutes, and 36 seconds East along a line 35 feet Westerly of and parallel with the Easterly line of vacated South Blue Island Avenue, a distance of 258.64 feet; thence South 89 degrees, 58 minutes, and 34 seconds East along a line 215 Feet North of and parallel with the North line of said West Roosevelt Road, a distance of 130.43 feet to the West face of an existing one-story brick building; thence South 00 degrees, 01 minutes, and 39 seconds West along the West face of said one-story brick building and its Southerly prolongation, a distance of 215.00 feet to the point of beginning. Be It, and It Hereby Is, Further Resolved that the Comptroller, with attestation by the Secretary, is authorized to execute, acknowledge, and deliver in the name of and on behalf of the Board of Trustees of the University of Illinois a lease and such other documents, including a sublease of this property, as said officers deem necessary or desirable to enable the University to complete the cogeneration facility for the Chicago campus.

O n motion of Mrs. Calder, these recommendations were approved and the foregoing resolution was adopted by the following vote: Aye, Mr. Boyle, Mrs. Calder, Mr. Grabowski, Mrs. Gravenhorst, Ms. Reese, Mrs. Shepherd, Mr. Wolff; no, none; absent, Dr. Bacon, Governor T h o m p s o n . (Mr. H a h n asked to be recorded as not voting on this item.)