Repository: UIHistories Project: Board of Trustees Minutes - 1926 [PAGE 48]

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1924]

UNIVERSITY OF ILLINOIS

45

OPTION O N ALLEN PROPERTY (18) The Superintendent of Business Operations, Professor James M. White, recommends that the University accept the following option for the purchase of the Allen property on the south side of Gregory Avenue in College Place. This is the only remaining piece of property which we have to acquire south of Gregory Avenue to complete our possession of the entire strip facing Gregory Avenue, between First and Fourth Streets. The option is as follows: OPTION K N O W A L L M E N B Y T H E S E P R E S E N T S , That Olie Allen and Mollie Allen of the City of Champaign, County of Champaign, and State of Illinois, for and in consideration of the sum of One Dollar ($1.00) in hand paid at or before the ensealing and delivery of these presents by the Board of Trustees of the University of Illinois, of the city of Urbana, County of Champaign, and State of Illinois, have agreed and do hereby agree to hold until thefirstday of November, 1924, at twelve o'clock noon, time being the essence and important part of this option, subject to the order of the Board of Trustees of the University of Illinois, and to contract to assign and transfer to the said Board of Trustees of the University of Illinois, or such person or persons as they may direct, at any time within the time above prescribed, the following described property: Lot One Hundred Sixty (160), College Place, Champaign, Illinois, for a consideration of Eight Thousand Seven Hundred Fifty and no/100 ($8,750.00) Dollars, the cash to be paid to the grantors when the Board of Trustees of the University of Illinois is given possession of the property, which shall be prior to M a y 1, 192$. The Board of Trustees of the University of Illinois agrees to pay the balance of the street lighting assessment of about Fifty Dollars ($50.00) and to assume the 1924 taxes. The grantors agree to furnish an abstract of title brought down to date of transfer showing merchantable title. Dated at Champaign, Illinois, this 19th day of September, 1924. Olie Allen Mollie Allen The price, $8,750, is reasonable for the house and lot. The Comptroller agrees with the Superintendent of Business Operations on this matter, as do I, myself. I recommend approval and authority for the Comptroller and Secretary of the Board to accept this option. O n motion of M r . E v a n s , this option w a s accepted. RADIO BROADCASTING LICENSE (19) The American Telephone and Telegraph Company own certain patents used in radio broadcasting. In order to avoid infringement of those patents we should have a license from them. They offer us one for one dollar, which is a nominal sum in order to make the contract technically and legally complete. I have authorized Professor White, in conjunction with the Comptroller, to make the necessary arrangements. This report w a s received for record. UNIVERSITY EXHIBIT AT THE PRODUCTS EXPOSITION (20) The Illinois Chamber of Commerce is to conduct an exhibit of Illinois products in Chicago beginning early in October. W e have been asked to make an exhibit. This is similar to the exhibit formerly known as the Pageant of Progress, as I understand the matter, and I recommend that the University participate, and that an appropriation of $1,000, or so much thereof as is needed, be assigned from Reserve and Contingent Fund to the Supervising Architect to meet the expense of this exhibit. O n motion of M r . Armstrong, this appropriation w a s m a d e , b y the following vote: A y e , M r . Armstrong, M r s . Blake, M r s . Busey, M r s . E v a n s , M r s . Grigsby, M r s . Ickes, M r . Noble, M r . Trees; no, none; absent, M r . Blair, M r . Small, M r . Trimble.