| |
| |
Caption: Board of Trustees Minutes - 1958
This is a reduced-resolution page image for fast online browsing.
EXTRACTED TEXT FROM PAGE:
1146 BOARD OF TRUSTEES ceedings since at that time the owner was unwilling to sell except at a price which University officers deemed exorbitant and excessive. The owner has now agreed to enter into a contract to sell on these terms: price, $92,500 of which $50,000 shall be payable within twenty days after the agreements are executed and the balance of $42,500 at the time of possession; the seller to retain possession, rent free, until July 1, 1958, to pay all taxes levied for 1957, taxes levied for 1958 to be pro rated, and insurance, and to maintain the buildings during the entire period of his occupancy. The Committee on Buildings and Grounds, informed that negotiations with the owners had been reopened to determine if the property can be acquired by purchase at a price and on terms acceptable to the University, approved the steps which were being taken. T h e price at which the property is offered for sale is within appraisals made of it, is reasonable considering the improvements on the land, and is consistent with the policy authorized by the Committee on Buildings and Grounds to govern negotiations for property acquisitions. Funds are available in the state capital appropriations for 1957-59 for land acquisitions and have been released by the Governor. I recommend the purchase of the property at the price and on the terms stated above, and that the Secretary and the Comptroller be authorized to execute the necessary documents for the acquisition of this property, subject to approval of the title by the Legal Counsel. On motion of Mr. Johnston, the purchase of this property, on the terms indicated, was authorized, and the Comptroller and the Secretary of the Board were authorized to execute the necessary documents. This action was taken by the following vote: Aye, Mr. Bissell, Mrs. Holt, Mr. Johnston, Mr. Livingston, Mr. Nickell, Mr. Swain, Mr. Williamson; no, none; absent, Mr. Herrick, Mr. Hughes, Mr. Stratton, Mrs. Watkins. On motion of Mr. Johnston, the Board adjourned. A. J. JANATA PARK LIVINGSTON Secretary President
| |
