UIHistories Project: A History of the University of Illinois by Kalev Leetaru
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Repository: UIHistories Project: Board of Trustees Minutes - 1924 [PAGE 164]

Caption: Board of Trustees Minutes - 1924
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1923]

UNIVERSITY OF ILLINOIS

l6l

The terms of purchase were: Cash $ 5,000 Due March 15, 1926 with interest at 6%, and with option of payment of multiples of $1,000 at any date on 60 days notice 5,000 Due on or before October 15, 1924, with interest at 6 % 1,800 Total $11,800 This report was received for record. STOOLMAN LOTS IN COLLEGE PLACE (8) The Comptroller further reports that in accordance with the action of the Board on March 13, 1923, he has purchased the following lots in College Place, Champaign, from Mr. A. W . Stoolman: 4,5,59,60,61,108,111,111,113,115,119, 120, 145, 148, '49, I50,i5.3.i54> I57.I58. The terms of the purchase were: Cash $10,000 Due March 30, 1928, with interest at 6%, and with option of payment of multiples of J 1,000 on semi-annual interest dates $19,900 Lots 70 to 75 inclusive, in College Place Addition, deeded to Mr. Stoolman. I recommend the adoption of the following resolution, the form of which has been approved by the Legal Counsel of the University: RESOLUTION Whereas, The Board of Trustees, on March 13, 1923, voted to purchase from A. W Stoolman certain lots in College Place, Champaign, and to convey to Mr. Stoolman in part payment six (6) lots owned by the Board of Trustees, more particularly described as Lots Seventy (70), Seventy-one (71), Seventy-two (72), Seventy-three (73), Seventyfour (74), and Seventy-five (75) in College Place Addition to Champaign, Illinois, And Whereas, In accordance with this action, W . L. Noble, President and H. E. Cunningham, Secretary, of the Board of Trustees have executed a warranty deed to said A. W . Stoolman for the lots above described, Therefore, Be It Resolved, That the action of the President and the Secretary of the Board in conveying this property for the Board be, and is hereby, ratified and confirmed. O n motion of M r . Armstrong, this resolution w a s adopted. COLLEGE PLACE LOT 9 1 (9) A recommendation from the Comptroller, which I approve, that the sum of $5000 be appropriated from the Reserve and Contingent Fund, which sum, together with the balance of an appropriation of $10,000 made September 22 last in payment for the socalled Chamber of Commerce lots, shall be used to cancel the indebtedness remaining on Lot 91, amounting to about $5,200 which, under our agreement, may be paid on sixty days notice. O n motion of M r . Armstrong, this recommendation w a s adopted. T h e vote w a s as follows: A y e , M r . Armstrong, M r s . Blake, M r s . Busey, M r s . Evans, M r s . Grigsby, M r . Noble, M r . Trees, M r . Trimble; no, none; absent, M r . Blair, M r . Herbert, M r . Small. APPOINTMENT OF PROFESSOR ROBERT HORACE BAKER (10) A recommendation that Doctor Robert Horace Baker, now Professor of Astronomy in the University of Missouri, be appointed Professor of Astronomy in the University of Illinois to succeed Professor Joel Stebbins, at a salary of $4,000 a year beginning September 1, 1923. LEAVEnMOF 1, 1923.M r . FOR MAJORN.appointment was m a d e . ginning recommendation that Major G. F. G. F. be granted leave of absence be(11) A a y ABSENCE Trimble, this Dailey N. DAILEY O motion of