Repository: UIHistories Project: Board of Trustees Minutes - 1906 [PAGE 147]

EXTRACTED TEXT FROM PAGE:

1905]

PKOCEEDINGS OF THE BOAED OF TRUSTEES.

Y . M . C. A . HANDBOOK.

121

A communication from t h e Secretary of t h e Y . M . C. A . connected with t h e University asking for a n appropriation of $100.00 in aid of its students' handbook was submitted by President James . T h e appropriation was made, M r . Kerrick voting no. EXPLANATION OF VOTES BY MR. KERRICK. On the question of paying out University funds to defray the expenses incurred by the Alumni Association, and on the question of appropriating $100.00 in aid of the Y. M. C. A. hand book, I desire to explain my negative votes by saying that in my judgment the Board has no "warrant in law for such use of public funds.

TREASURER'S BOND.

T h e following report made by t h e Finance Committee was a d o p t e d :

URBANA, ILLINOIS, June 23, 1905.

To the Board of Trustees of the University of Illinois. Your Finance Committee begs leave to report that, in accordance with your instruction, the Committee met Mr. Haugan, of Chicago, your Treasurer-elect, and obtained from him a good and sufficient bond containing the usual statutory provisions, with approved securities in the sum of $1,000,000.00 The bond is as follows:

KNOW ALL MEN BY THESE PRESENTS, That we, Helge A. Haugan, as principal,

and John R. Lindgren, John H. Dwight, Theodore Freeman, William A. Peterson, Hauman G. Haugan, Calvin Durand, and George E. Rickords, as sureties, are held and firmly bound unto the University of Illinois, of Urbana, in the County of Champaign, State of Illinois, in the sum of one million ($1,000,000.00) dollars, good and lawful money of the United States, for the payment of which, well and truly to be made, we bind ourselves and our heirs, executors and administrators, jointly, severally and firmly by these presents. WITNESS our hands and seals this fourteenth day of June, A. D. 1905.

T H E CONDITION OF THIS OBLIGATION IS SUCH THAT WHEREAS the above

bounden Helge A. Haugan was on the fifth day of June, A. D. 1905, duly elected to the office of Treasurer of the University of Illinois for a period ending on the second Tuesday of March, A. D. 1907, or until his successor shall be appointed and qualified, and is about to assume the duties of said office: Now, if the said Helge A. Haugan shall well and truly perform and faithfully discharge the duties of Treasurer of the said University of Illinois during his term of office, and shall faithfully keep and truly account for all moneys, bonds, securities, and other property coming into his hands as such Treasurer, during his term of office, and at the expiration of his term of office shall pay over to his successor in office, or to any other person duly authorized by the Board of Trustees of said University of Illinois to receive the same, all moneys, bonds, securities, or other property received by him as such Treasurer and not otherwise lawfully paid out or disposed of, and shall deliver to his successor in office or other person appointed to receive the same, the property, books, papers, and other things in his hands belonging to said office, and shall, at the expiration of his term of office, or oftener if there-