Repository: UIHistories Project: Board of Trustees Minutes - 1922 [PAGE 583]

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1922]

UNIVERSITY OF ILLINOIS

287

4>5oo 4,500 4,000 3,000 1,400 1,080 $42,480 10,400 $52,880

Walter Lee Summers, Professor of Law (Indef.) Albert J. Harno, Professor of Law (Indef.) George W. Goble, Professor of Law (Indef.) , Librarian (1 yr.) , Secretary to the Dean (exempt) (12 mos.) , Stenographer (C. S.) Total, Salaries Expense and Equipment Total, Law

On motion of Mr. Hoit, this budget was approved. The vote was as follows: Aye, Mr. Abbott, Mrs. Blake, Mrs. Busey, Mrs. Evans, Mrs. Grigsby, Mr. Hoit, Mr. Trimble; no, none; absent, Mr. Blair, Mr. Herbert, Mr. Noble, Mr. Small.

OFFER OF LOTS IN COLLEGE PLACE

(16) A proposal from Miss Fanny B. Sherfy to sell to the Board of Trustees of the University twenty-five lots, numbered 57, 82, 83, 84, 85, 88, 89, 90, 91, 92, 93, 136, 137, 138, 139, 140, 141, 142, 143, 147, 156, 161, 163, 164, and 165, at a total price of $72,500. There are houses on lots 84 and 91. The seller asks the payment of $8,300 cash, the title to be taken by the Board of Trustees subject to (a) A note or notes, or bond or bonds, secured by a trust deed representing a loan of $30,000, bearing interest at the rate of 6% payable semi-annually, maturing June 15, 1927, on which the Trustees shall have the privilege of paying $5,000 or multiples thereof on the principal on any interest bearing date on thirty days notice, (b) A mortgage of $5,200 bearing 6% interest payable semi-annually, due September 25, 1924, with the privilege of payment on any interest date, (c) A mortgage of $5,000, bearing 7% interest payable semi-annually, due July 1, 1927, with privilege of payment on any interest date, (d) The balance of $24,000 due on or before June 15, 1927, bearing interest at the rate of 6%, payable semi-annually, the Board of Trustees to have the option of paying $2,500 or any multiple thereof at any time on sixty days previous notice in writing. I recommend that this offer be accepted and that the sum of $10,000 be appropriated to make the first cash payment, the amount to be charged to the appropriation for Physical Plant Extension, the payment to be made and a contract to be entered into, subject, of course, to the usual procedure of receiving an acceptable abstract, all proceedings to be subject to the approval of the legal counsel of the University as usual. Miss Sherfy offers us four additional lots in College Place, namely $%> 6% 80 and 155, subject to general taxes and special assessments, at a price of $8,500, to be paid as follows: One-half cash down, and the remainder one year from date at 6%. I recommend that this offer be accepted and an appropriation of $4,250 be made therefor from unexpended balances of appropriations for the year closing June 30.

On motion of Mrs. Blake, these recommendations were approved by the following vote: Aye, Mr. Abbott, Mrs. Blake, Mrs. Grigsby, Mr. Hoit, Mr. Trimble; no, Mrs. Busey; not voting, Mrs. Evans; absent, Mr. Blair, Mr. Herbert, Mr. Noble, Mr. Small. Mrs. Busey stated in explanation of her vote that she felt that the University did not have the money to put into this purchase.

PLANS FOR STADIUM (17) A statement from Mr. Charles A. Piatt concerning the design of the Stadium, and the plans for the structure.

Mr. John Holabird, who was present, explained the plans. On motion of Mr. Trimble, the general plans for the Stadium were approved. It was understood that further study was to be