Caption: Board of Trustees Minutes - 1992
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UNIVERSITY OF ILLINOIS
issued by the University of Illinois Foundation related to the Construction Engineering Research Laboratory (CERL). Chicago Title 8c Trust Company has decided to discontinue offering corporate trust services and has notified the University of their intent to resign as escrow agent under the terms of the May 16, 1985, escrow agreement. American National Bank of Chicago is accepting a number of Chicago Title 8c Trust's Illinois accounts and has offered to act as successor escrow agent for the University of Illinois accounts. The annual costs for the escrow agent services are $3,000 and the service will terminate with the final maturity of the bonds in escrow on January 1, 1999. Funds are available from rental income received from the U.S. Army for use of CERL facilities. The vice president for business and finance has recommended that American National Bank of Chicago be approved as successor trustee under the terms of the May 16, 1985, escrow agreement between Chicago Title 8c Trust Company and the Board of Trustees of the University of Illinois. I concur.
On motion of Ms. Reese, this recommendation was approved. By consensus, the board agreed that one roll call vote would be taken and considered the vote on each agenda item nos. 21 through 41 inclusive. The recommendations were individually discussed but acted upon at one time. (The record of board action appears at the end of each item.)
Authorization of Payments for Residency Program in Emergency Medicine, College of Medicine, Chicago
(21) The chancellor at Chicago recommends that the vice president for business and finance be authorized to make payments of up to $440,940 to Mercy Hospital and Medical Center, Chicago, to cover administrative expenses and salary payments for residents participating in the College of Medicine's Residency Program in Emergency Medicine during Fiscal Year 1993. The University of Illinois Hospital & Clinics (UIH&C) is a clinical site and is part of an affiliation program with Mercy Hospital pursuant to an agreement approved by the Board of Trustees in January 1989. Mercy Hospital administers the program and residents rotate through and provide emergency medical services at UIH&C. The recommended amount is the University's allocated share of costs associated with the program. It is also recommended that the comptroller be authorized to approve similar reimbursement to Mercy Hospital and Medical Center for residency program expenses incurred for FY 1994 and FY 1995. These payments will be similar to those of FY 1993 except for increases not to exceed 4 percent per year. Funds are available in the Hospital Income fund. The vice president for business and finance concurs. I recommend approval.
On motion of Dr. Bacon, these recommendations were approved by the following vote: Aye, Dr. Bacon, Mr. Boyle, Mrs. Calder, Dr. Gindorf, Mr. Grabowski, Mrs. Gravenhorst, Mr. Lamont, Ms. Lopez, Ms. Reese; no, none; absent, Governor Edgar. (The student advisory vote was: Aye, Mr. Begovich, Mr. Lawless; no, none.)