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Caption: Board of Trustees Minutes - 1980 This is a reduced-resolution page image for fast online browsing.
![](https://uihistories.library.illinois.edu/REPOSITORYCACHE/66/Z2P59mZljZiq3R08N09CMaoLwK82k6EjgdTdMxrLPjTKmwBKmb5ajS4ooxK610ADPO0H2OO252YGz8UcWuZKa3bpR33v0217VMq4V050C19_22327-140.jpg)
EXTRACTED TEXT FROM PAGE:
1978] UNIVERSITY OF ILLINOIS 131 establishment of a construction fund checking account at the Continental Illinois National Bank and Trust Company, Chicago, in connection with the issuance of the Series N Revenue Bonds. The bank has requested that the board adopt the attached resolution authorizing the account and specifying the operational procedures. The vice president for administration has recommended adoption of the resolution. I concur. Resolution Be It Resolved, T h a t Continental Illinois National Bank and Trust Company of Chicago be and hereby is designated as a depositary of R. R. Manchester, treasurer of this corporation for the proceeds of the University of Illinois Auxiliary Facilities System Revenue Bonds, Series N. The depositary relationship governed by this resolution and agreement may be terminated by this corporation by written notice to said bank, or by said bank by written notice to this corporation. Be It Further Resolved, T h a t the funds of this corporation may be deposited by its comptroller with said Bank and that he may endorse and deposit with said Bank negotiable instruments and orders for the payment of money which endorsements may be made in writing or by a stamp and without designation of the person so endorsing, and it being understood and agreed that on all such items deposited all prior endorsements are guaranteed by this corporation whether or not expressly incorporated therein. Said Bank may return to this corporation any item not clearly endorsed by the corporation, or may endorse any such item on the corporation's behalf in order to facilitate collection. The Bank shall not be liable for any delays in the presentment or return of negotiable instruments and orders for the payment of money which are not properly endorsed. And Be It Further Resolved, T h a t Continental Illinois National Bank and Trust Company of Chicago as a designated depositary of R. R. Manchester, Treasurer of this corporation be and it is hereby requested, authorized and directed to honor checks, drafts, or other orders for the payment of money drawn in this corporation's name, including those drawn to the individual order of any person or persons whose name or names appear thereon as signer or signers thereof, when bearing or purporting to bear the facsimile signatures of any two of the following: the president and the secretary of The Board of Trustees of the University of Illinois, and Continental Illinois National Bank and Trust Company of Chicago shall be entitled to honor and to charge this corporation for all such checks, drafts, or other orders, regardless of by whom or by what means the facsimile signatures thereon may have been affixed thereto, if such facsimile signatures resemble the facsimile specimens duly certified to or filed with Continental Illinois National Bank and Trust Company of Chicago by the secretary or other officer of this corporation. And Be It Further Resolved, That any of the above named persons may issue an oral or written stop payment order which must specify the precise account number, payee, date, amount, and number of the item (which number should be M I C R encoded if the item is a check). It is further agreed that said Bank may honor and charge to this corporation checks, drafts, or other orders for the payment of money, otherwise properly payable without regard to the date thereon, and Bank will not be responsible or liable for any stop payment order placed on any such items after payment thereof, but in advance of its date. And Be It Further Resolved, T h a t any one of the following: the comptroller or assistant comptroller of The Board of Trustees of the University of Illinois, be authorized upon such terms and conditions as to him shall seem proper: T o deliver to and deposit with Continental Illinois National Bank and Trust Company of Chicago for safekeeping, custody, or other purposes any bonds, stocks, securities, and other property owned or otherwise held by this corporation and in connection therewith to open and maintain with said Bank a safekeeping or custody
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