Repository: UIHistories Project: Board of Trustees Minutes - 1902 [PAGE 85]

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66

UNIVERSITY

or

ILLINOIS.

[April 25,

Authority was given to confer degress as recommended. Mr. J. L. Eay's bill of $100.00 for services in the case of D. H . Clark vs. University of Illinois was ordered paid. A letter from Mr. E. Gr. Howe, Principal of the Preparatory School, was received and put on file. A letter from the Urbana Heat, Light & Power company with reference to furnishing heat, light, and power to the University during the summer vacation was referred to the Committee on Building and Grounds for investigation and report at the next meeting of the Board. Leave was given to import for the College of Agriculture apparatus and supplies to the amount of $500.00. A letter from Professor Walter Howe Jones was received and placed on file.

TKANSFER OF WEST DIVISION HIGH SCHOOL.

lo the Board of Trustees: Your special committee on the purchase of the West Division High School property by the College of Physicians and Surgeons (Sept. 21, 1900), begs leave to report that in order to complete the purchase of the said property, as authorized by the Board, it will be necessary to authorize an increase of the indebtedness of the said College in accordance with Article 10 of the contract between the College of Physicians and Surgeons and the University of Illinois dated the ninth day of February, 1900. Your committee therefore recommends the adoption of the following preamble and resolutions: Whereas, by a resolution passed by this Board November 9, 1900, the College of Physicians and Surgeons of the City of Chicago was authorized to purchase for $186,000 from the City of Chicago the property known as the West Division High School, which property is fully legally described in said resolution, and Whereas, the said College of Physicians and Surgeons was further authorized on the same date to make permanent improvements to the building on said property to an amount not exceeding $5,000, and Whereas, January 23, 1901, this Board by resolution authorized the College of Physicians and Surgeons to organize a School of Dentistry in said College of Medicine, and did on the 12th day of March, 1901, approve an agreement between the College of Physicians and Surgeons and the Illinois School of Dentistry, whereby the organization of a School of Dentistry in the College of Physicians and Surgeons is to be consummated by the purchase of the Illinois School of Dentistry for the sum of $17,000 and Whereas, it is the intention of the College of Physicians and Surgeons to improve permanently the present building of the said College at a cost not to exceed $8,000, and to place therein the new School of Dentistry; now therefore, for the accomplishment of the above purposes, be it Resolved, that the College of Physicians and Surgeons be and is hereby authorized and permitted to increase its indebtedness to the amount and in manner as follows: On first mortgage against said West Division High School property to the Chicago Board of Eduction for five years at 6 per cent interest the sum of $86,000. In bonds of the corporation and secured by a second mortgage against said High School property running from 10 to 20 years at 6 per cent interest, the sum of $109,000. And it is further Resolved, that it be permitted to change the form of indebtedness of the College of Physicians and Surgeons secured by mortgage against the present