Repository: UIHistories Project: Board of Trustees Minutes - 1990 [PAGE 280]

EXTRACTED TEXT FROM PAGE:

268

BOARD OF TRUSTEES

[May 9

offered to the public, and the all-in cost of borrowing for the issue will not exceed 7.8 percent. 1 5. Approval to seek and purchase bond insurance at a rate not to exceed .35 percent of total debt service, if such purchase is deemed economically beneficial following consultation with financial advisor and underwriters. 1 6. Ratification and confirmation of all actions taken or to be taken by the officers and members of the board in connection with the sale and delivery of the bonds to the purchasers. 7. That the comptroller and other authorized officers of the board be and they are hereby authorized and empowered to do and perform such other acts and things and to make, execute, and deliver all such other instruments and documents on behalf of the board as may be by them deemed necessary or appropriate to comply with or to evidence compliance with the terms, conditions, or provisions of the Official Statement, the Bond Resolution, the Third Supplemental Resolution, and the Bond Purchase Agreement and all acts and things whether heretofore or hereafter done or performed by and of the officers of the board which are in conformity with the intents and purposes of these resolutions shall be and the same are hereby in all respects ratified, confirmed, and approved. O n motion of Dr. Bacon, these r e c o m m e n d a t i o n s were approved by t h e following vote: Aye, Dr. Bacon, Mrs. Calder, Mr. Grabowski, Mrs. G r a v e n h o r s t , Mr. L a m o n t , Ms. Reese, Mr. Wolff; no, n o n e ; absent, Mr. Boyle, G o v e r n o r Edgar, Mrs. S h e p h e r d . ( T h e student advisory vote was: Aye, Mr. Forbes, Ms. Kelly; n o , none.) Contract, Replace Light Fixtures, Parking Structure, Chicago (14) T h e president of the University, with the concurrence of the appropriate administrative officers, recommends award of a contract for $99,000 to Loyola Electrical Construction Company, Inc., Chicago, the low bidder on its base bid, for the replacement of light fixtures in parking structure no. 2 at the corner of Taylor and Halsted Streets at Chicago. T h e work will include replacing all exterior ceiling-mounted 175-watt mercury vapor light fixtures with 100-watt metal halide light fixtures as a security and energy conservation measure. Funds are available in the restricted funds operating budget of the Parking Division. A schedule of the bids received has been filed with the secretary of the board for record. O n motion of Dr. Bacon, this r e c o m m e n d a t i o n was approved by t h e following vote: Aye, Dr. Bacon, Mrs. Calder, Mr. Grabowski, Mrs. G r a v e n h o r s t , Mr. L a m o n t , Ms. Reese, Mr. Wolff; no, n o n e ; absent, Mr. Boyle, G o v e r n o r Edgar, Mrs. S h e p h e r d .

1 A copy is filed with the secretary of the board for record and the appropriate officers of the board are hereby authorized and directed to execute the same in the name and on behalf of the board in substantially the form presented to this meeting, or with such changes as may be approved by the officer or officers of the board executing the same, his or their execution thereof to constitute conclusive evidence of the board's approval of all changes from the form thereof presented to this meeting; provided, however, that if any such changes constitute a substantial change in the form thereof presented to this meeting they shall first be approved by the Executive Committee of the board, to which authority for such approval is delegated by the board.