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Caption: Board of Trustees Minutes - 1964 This is a reduced-resolution page image for fast online browsing.
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EXTRACTED TEXT FROM PAGE:
794 BOARD OF TRUSTEES [September 18 Sinking Funds Housing Revenue Bonds (December 17, 1958; June 23 and October 21, 1959; June 14, 1960; June 21, 1961; and May 24 and October 17, 1962) Purchase $ 46 000 U. S. Treasury bills 9/19/63 $ 45 497 78 (The following transactions took place in previous periods, but they have not yet been reported.) Assembly Hall (June 23, 1959) Purchase ? 22 000 U. S. Treasury bills 3/21/63 $ 21 847 41 25 000 U. S. Treasury bills 9/19/63 24 726 11 Women's Residence Halls of 1956 (September 18, 1956, and February 15, 1961) Sale $ 1 000 U. S. Treasury notes 3% per cent 8/15/64 ? 1 010 91 On motion of Mr. Williamson, this report was accepted for record. CONGRESS CIRCLE CAMPUS LAND TRANSFERS TO AND FROM COMMONWEALTH EDISON COMPANY (24) At its April 17, 1963, meeting, the Board of Trustees authorized an arrangement with Commonwealth Edison Company whereby that company will contribute to the cost of certain work to be done by the University in erecting a screening wall around Commonwealth Edison's Vernon Park Substation in the area of the Congress Circle Campus and in refacing parts of the southerly portion of the substation building. At that time it was recognized that transfers of land between the University and Commonwealth Edison might be required to accomplish the work. It has now been determined that the proper placement of the University's screening wall requires the acquisition by the University of approximately 106 square feet of land from the Commonwealth Edison Company at the northeast corner of its Vernon P a r k Substation which that Company is willing to sell to the University. It has also been determined that the refacing of the southerly portion of the substation wall will cause the same to encroach upon the University's property by approximately 106 square feet and Commonwealth Edison Company has requested that this area be sold to them. The Department of Urban Renewal of the city of Chicago has approved the sale of this land to Commonwealth Edison, as required by the University's contract with the City. A sales price of $1,008 per square foot (the price at which the University acquired its property from the City) has been negotiated for each of the proposed transfers. The Director of the Physical Plant and the Vice-President and Comptroller recommend that the foregoing purchase and sale transactions with Commonwealth Edison Company be authorized. Funds for the purchase are available in the state capital appropriations to the University from the Universities Building Fund. I concur and recommend the adoption of the following resolution: Resolution Be It, and It Hereby Is Resolved by this Board of Trustees of The Board of Trustees of the University of Illinois, a public corporation of the State of Illinois, that the Comptroller and Secretary of this Corporation are authorized and directed to execute, acknowledge, and deliver, in the name and on behalf of this Corporation, a quitclaim deed and such other instruments of conveyance, contract, or other documents, and to provide such evidence of insurance of title, as to them may seem necessary or desirable in order to convey and quitclaim to Commonwealth Edison Company, an Illinois corporation, its successors and assigns, this Corporation's interest in and to the. following described property, consisting of approximately 106 square feet located in the City of Chicago, County of Cook, and State of Illinois, upon payment by said Commonwealth Edison Company to this Corporation of the sum of $106.85 as the consideration therefor: A tract of land in the East half of the Southeast quarter of Section 17, Township 39 North, Range 14 East of the Third Principal Meridian, in the City of Chicago, County of Cook, State of Illinois, described as follows:
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