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Caption: Board of Trustees Minutes - 1944
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718 BOARD OF TRUSTEES MEETINGS O F T H E EXECUTIVE COMMITTEE [October 29 The Secretary presented for record minutes of meetings of the Executive Committee held September 10 and 30 and October 19, 1943. MEETING OF THE EXECUTIVE COMMITTEE SEPTEMBER 10, 1943 The Executive Committee met at the University Club, Chicago, on September 10, 1943, with Mr. P a r k Livingston and M r . Chester R. Davis present. Mr. Lloyd Morey, Comptroller, acted as clerk. T h e Committee considered the proposal of the Northwestern Mutual Life Insurance Company for an exchange of University of Illinois Foundation Student-Faculty Union Building Trust 3^2% bonds for an equal par value of bonds bearing interest at the rate of 2,Yx% per annum, under the same conditions of call as in the original bond issue, to be issued by the University of Illinois, which matter was referred by the Board of Trustees to the Committee for consideration and action. After discussion, the members of the Committee present voted to accept the proposal, provided that all legal matters can be cleared satisfactorily. Mr. Jensen, the member of the Committee who was not present, was contacted by telephone, and concurred in this conclusion. T h e Executive Committee adjourned. LLOYD MOREY P A R K LIVINGSTON, Chairman Clerk, Pro Tempore CHESTER R. DAVIS FRANK A. JENSEN MEETING OF T H E EXECUTIVE COMMITTEE SEPTEMBER 30, 1943 A meeting of the Executive Committee of the Board of Trustees of the University of Illinois was held at the University Club, in Chicago, at 12:30 p.m. on Thursday, September 30, 1943. All the members of the Committee were present: Mr. P a r k Livingston, Chairman, Mr. Chester R. Davis, and Mr. Frank A. Jensen. President A. C. Willard was present, also Mr. H . E. Cunningham, Secretary, Mr. Lloyd Morey, Comptroller, and, during the first part of the afternoon, Professor James J. Doland, Supervising Engineer during the construction of the airport, Mr. Newton C. F a r r , negotiator, Mr. William C. Knoepfle, Airport Engineer with the Civil Aeronautics Administration, Mr. Amos H . Watts and Mr. Spencer LeRoy, of Chapman and Cutler, and Judge John H . Armstrong, representing owners of land. C o n t r a c t s for P u r c h a s e of L a n d for A i r p o r t Contracts, already signed by the owners of land, were presented for the purchase of 520 acres of land as part of the site for the airport at a total price of $183400. Mr. Watts stated that the contracts were in proper legal form; Mr. Farr recommended, and President Willard concurred, that the President and the Secretary of the Board be authorized and directed to execute the contracts as presented, and that the Comptroller be authorized and directed to make the necessary payments. Mr. Knoepfle stated that the construction of the airfield could start with the acquisition of the central tract, but that possession must be obtained by March 1, 1944, and that the University must make a declaration of intent to secure the additional land for the runways. On motion of Mr. Davis, this purchase was authorized as recommended, by unanimous vote. T h e purchase of the dwellings on the Stout, Koss, and Burt land was authorized, to be paid from funds other than the appropriation for the purchase of land. T h e contracts were duly executed and earnest payments were made to Judge Armstrong as indicated below.
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