Repository: UIHistories Project: Board of Trustees Minutes - 1974 Version B [PAGE 126]

EXTRACTED TEXT FROM PAGE:

118

BOARD O F TRUSTEES

[November

17

either belonging to or coming into possession of the University. Indorsements for deposit may be by the written or stamped indorsement of the University without designation of the person making the indorsement; Be It Further Resolved, that the funds deposited to the credit of the University may be withdrawn only by bank transfer to a designated depositary of the University upon order or direction of either the Director of Business Affairs of the Medical Center campus or the Vice-President for Financial Affairs of the University. Be It Further Resolved, that each of the foregoing resolutions shall continue in force until express written notice of its rescission or modification has been received by the Bank, but if the authority contained in them should be revoked or terminated by operation of law without such notice, it is resolved and hereby agreed for the purpose of inducing the Bank to act thereunder, that the Bank shall upon its request, be insured against any loss suffered or liability incurred by it in so acting after such revocation or termination without such notice. / further Certify that the following named persons are the officers of the University, duly qualified and now acting as such: President: Earl M. Hughes Secretary: Earl W. Porter Treasurer: Robert R. Manchester Comptroller: Herbert O. Farber In Witness Whereof, I have hereunto subscribed my name and affixed the seal of the University, this day of , A.D. 19 Secretary O n motion of M r . Swain, this recommendation was approved and the foregoing resolutions were adopted.

MODIFICATION OF C H A N G E ORDER C O M P U T I N G SERVICES DATA PROCESSING EQUIPMENT. CHICAGO CIRCLE

(15) On October 18, 1972, the Board authorized the acceptance of the proposal of the IBM Corporation for a change order in our existing lease agreement which would permit the University to acquire selected peripheral devices which have accumulated an advantageous purchase credit and which are being used on the leased 370/155 computing system. The original authorization must be modified as an error in the amount of $2,857.88 was made in the computation of the educational discount and lease credit allowance. The revised cost of the change order for acquisition of this equipment will be a down payment of $6,109.35 and a first payment of $14,993.70, with five varying additional annual payments being made subject to availability of funds for a grand total of $132,184.58. These modifications will revise the total savings over the period from an estimated $103,790 to an estimated $100,932. The President of the University, with the concurrence of the appropriate administrative officers, recommends that the Board modify its October 18, 1972, action to authorize the Comptroller and the Secretary of the Board of Trustees to accept the proposal of the IBM Corporation as modified above and to execute such contracts, change orders, and other appropriate documents as may be necessary to acquire title to the peripheral equipment in accordance with the plan described. O n motion of Mr. H o w a r d , authority was given as recommended by the following vote: Aye, M r . Forsyth, M r . H a h n , M r . H o w a r d , M r . Hughes, Mr. Neal, M r . Steger, M r . S w a i n ; no, none; absent, Dr. Bakalis, Governor Ogilvie, M r . Pogue.

PURCHASES

(16) The President submitted, with his concurrence, a list of purchases recommended by the Directors of Purchases and the Vice President for Financial Affairs.