Repository: UIHistories Project: Board of Trustees Minutes - 1994 [PAGE 340]

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328

BOARD OF TRUSTEES

[July 13

of the case to the trustees stating that one student and the parents of that student were involved in bringing the suit. He noted that the suit charges several forms of sexual harassment. Further, he told the trustees that the University High School had developed a policy on sexual harassment in the wake of these incidents. Heretofore there had not been such a policy at the high school. Mr. Higgins said he thought this addressed previous procedural problems that existed at the school. He said that the suit had been filed in Chicago and that he had hired Carla Rozicki to represent the University in this case.

Proposed Sale of Addington Farms

Several of the trustees reported that they had received much mail concerning opposition to the University's proposal to sell these farms which had been left to the College of Agriculture by the late Francoise Addington. Mr. Higgins explained the terms of the gift and earlier controversies concerning the will that left these farms to Mrs. Addington. He told the trustees that the University was legally able to sell these farms if that was deemed helpful to aid in carrying out agricultural research, the purpose of the gift of Mrs. Addington. Several members of the board expressed the desirability of being responsive to public concerns over the University selling land received as a gift and recommended that this not go forward at this time. President Ikenberry explained that he had considered bringing a recommendation for this sale to the trustees at this meeting but had withdrawn that in the face of the widespread concerns he had learned of a few days earlier.

EXECUTIVE SESSION ADJOURNED

There being no further business, the executive session adjourned at 9:35 a.m.

BOARD MEETING RECONVENED1

The Board of Trustees reconvened in regular session at 12:40 p.m. Chair Lamont introduced and welcomed Mr. Roger Plummer, pres1 In the time intervening between the Executive Session and the reconvening of the board, there were meetings of the Committee on Finance and Audit and of the board as a Committee of the Whole. At trie meeting of the Committee on Finance and Audit, Vice President Bazzani presented a review of the means for external funding of University capital projects, noting the issuance of Certificates of Participation for 1995-98 tnat had occurred a few months prior and differentiated between these " C O P s " and traditional revenue bonds. He then presented a summary of the projects in need of improvement at the University that he recommended be considered for the next borrowing that the board does. Dr. Bazzani next reported on the three stage process being followed to select underwriters to work with the University on funding projects over a longer period of time, perhaps three to four years. Following that, Dr. Bazzani opened a discussion of the recent problems discovered within the Common Fund, a group handling some of the University's investments. He noted that losses felt by the Common Fund would mean that the University and the Foundation would receive an 8 percent interest rate this year instead of an anticipated 8.25 percent. It was agreed that the University's policy and guidelines for investments would be reviewed. In the meeting of the Committee of the Whole, the board received reports from Vice President Manning concerning the University's budget request for Fiscal Year 1997 and more detailed reports from the campuses about their specific needs that are reflected in the budget request. Dr. Bazzani made remarks about salaries for Civil Service staff compared to salaries for State employees who are similarly situated, stating that parity existed between the two groups with some differences internally tor the two.