Repository: UIHistories Project: Board of Trustees Minutes - 1924 [PAGE 585]

EXTRACTED TEXT FROM PAGE:

582

BOARD OF TRUSTEES

[June 9,

W H E R E A S , B y the judgment of the County Court of Champaign County, Illinois, there has been specially taxed against the property of the University of Illinois the aggregate principal amount of divided into installments payable annually, the first installment to be for the principal sum of and each of the nine succeeding installments for the principal sum of ; and W H E R E A S , Upon notice to that end, bids were received and contract for the construction of said improvement has been awarded to , contractor, by the Board of Local Improvements of said city, and said contractor is about to enter upon the execution of said contract and the construction of such improvement pursuant to said ordinance; and W H E R E A S , It is desirable to fully secure and validate the issue of bonds as provided by the ordinance for said improvement, the proceeds of which are to be used to defray the cost and expense of said improvement and the lawful expenses incident thereto; N o w , therefore, In consideration of the benefits to be received by the real estate and property of the University of Illinois from the construction of said improvement, the said University of Illinois, by its duly authorized officers and trustees, does hereby agree to pay to the city collector or other proper officer of the City of Champaign, Illinois, the sum shown on the assessment roll specially taxed against said University of Illinois, together with per cent interest on the deferred installments thereof, amounting in the aggregate to the principal sum of , the first installment of which is for the principal sum of , and each of the nine succeeding installments due and payable annually being for the principal sum of , which said installments shall bear interest from the date of the first voucher issued on account of work done on said improvement, at per cent per annum, as provided by the Statute of the State of Illinois concerning local improvements in cities, villages, and towns. Dated and sealed with the corporate seal of said University this day of , 1924.. T h e Board of Trustees of the University of Illinois By , President Secretary O n m o t i o n of M r s . B l a k e , this contract w a s authorized. INSURANCE ON CHICAGO BUILDINGS Mr. Trees reported on the matter of insurance on the Chicago buildings and the installation of a sprinkling system, and recommended that no action be taken. N o action was taken in this matter. AGRICULTURAL MEMORIAL Mr. Trees, for the committee on Agriculture, made a report of progress on the consideration of the plan for an agricultural memorial. This report was received for record. At this point, Mr. Trees withdrew. INVESTIGATION OF MILCH GOATS During the luncheon hour, the matter of the investigation of milch goats was discussed by Mrs. Patten, Dr. W . A. Evans, Mr. TeWalt, and Dean Mumford.