Repository: UIHistories Project: Board of Trustees Minutes - 1928 [PAGE 761]

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758

BOARD OF TRUSTEES

[June 29

PURCHASE O F NOGEL PROPERTY (24) The Comptroller reports that pursuant to the action of the Board of Trustees on M a y 23 (Minutes, page 603), he has concluded the purchase of the Nogel property south of the Cavalry stables at a price of $4,000, the University to assume the 1928 taxes on this property, estimated at $57, payable in 1929. The property is under lease for $17.50 per month until October 1, 1928, and the lease has been assigned to the University. This report w a s received for record. WINDSTORM DAMAGE TO STADIUM (25) The Comptroller reports that on June 19 one of the Stadium towers was damaged by wind, the estimated loss being $350. This was reported to the insurance agencies w h o advised that the necessary repairs be made and that the settlement will be made on the basis of the cost of these repairs. The work of repair is under way and a report will be made later. This report w a s received for record.

AMENDMENT OF REVENUE ACT EXEMPTING CERTAIN PROPERTY FROM TAXATION

(26) I submit herewith for record from the Secretary of State a certified copy of the Act amending the Revenue Act of the State so as to exempt from taxation certain property used for educational purposes. This Act was passed at the second special session of the Fifty-Fifth General Assembly, a bill for that purpose having been introduced on behalf of the University to remedy the difficulty caused by the Supreme Court decision of December last to the effect that such property as the Carter farms in Vermilion County, donated in trust to the University, was subject to taxation. I have given the original certified copy to the Secretary of the Board. Second Special Session 55TH G. A. SENATE BILL NO. 17 IN HOUSE 1928 Reported from Senate M a y 22, 1928. Read afirsttime, ordered printed and to a second reading. A BILL For an Act to amend Section two of an Act entitled "An Act for the assessment of property and for the levy and collection of taxes," approved March 30, 1872, as subsequently amended. Be i enacted by the People of the State of Illinois, represented in t the General Assembly: Section i. That Section two of an Act entitled, "An Act for the assessment of property and for the levy and collection of taxes," approved March 30, 1872, as subsequently amended, be, and such section is hereby amended to read as follows, to-wit: Sec. 2. All property described in this section, to the extent herein limited, shall be exempt from taxation, that is to say: FIRST—All lands donated by the United States for school purposes, not sold or leased; all property of schools, including the real estate on which the schools are located and any other real estate used by such schools exclusively for school purposes, not leased by such schools or otherwise used with a view to profit; and all lands, moneys, or other property heretofore or hereafter donated, granted, received or used for public school, college, seminary, university, or other public educational purposes, and the proceeds thereof, whether held in trust or absolutely. S E C O N D — A l l property used exclusively for religious purposes, or used exclusively for school and religious purposes or for orphanages and not leased or otherwise used with a view to profit.