Repository: UIHistories Project: Board of Trustees Minutes - 1930 [PAGE 258]

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1929]

UNIVERSITY OF ILLINOIS

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On motion of Mrs. Grigsby, this contract was awarded to the lower bidder as recommended. RENTAL. OF LINCOLN AVENUE HOUSE AND SALE OF FURNITURE TO THE WOMAN'S LEAGUE

(32) The Supervising Architect submits a recommendation, in which the Dean of W o m e n and the Comptroller concur, that the monthly rental charge to the Woman's League for the so-called Beta House, the cooperative house at 901 South Lincoln Avenue, be increased from $80 to $125, or $1,500 for the year, beginning September I, 1929; and that the furniture in the house be sold to the Woman's League for $2,000. I recommend approval. O n m o t i o n of M r s . B u s e y , these r e c o m m e n d a t i o n s w e r e concurred in.

BUILDING CONTRACTS WITHOUT BONDS

(33) In accordance with the instructions of the Board at its last meeting, I requested the opinion of our Legal Counsel as to the power of the Board to let building contracts without bonds. Following is his reply: M a y 29, 1929 President David Kinley, 355 Administration (West) M y D e a r President Kinley: Answering your letter of M a y 23, in which you inquire concerning the power of the Board of Trustees to let building contracts without bonds, I have to advise that I have carefully examined the statutes of Illinois withoutfindingany provision anywhere requiring the Board to take bond from persons contracting to erect public buildings. I take it that the policy of taking bonds in such cases, in the case of municipalities and of certain types of state contracts, is fairly established by law as well as by custom and practice. Whether to require bond when University buildings are constructed or repaired seems to be left to the sound discretion of the Board of Trustees. I believe this answers the question. Yours very truly, Sveinbjorn Johnson Legal Counsel

This report was received for record. PROPOSED RENEWAL OF INVESTMENT

(34) The following letter from the Comptroller explains itself: June 10, 1929 President David Kinley, 355 Administration Building Dear President Kinley: A m o n g our trust fund investments is included a first mortgage on real estate in Franklin County to M . M . Hart, as per Minutes of the Board of Trustees, September 20, 1928. This loan matures June 16, 1929. Mr. Hart has requested that it be renewed forfiveyears on the same terms as at present, as per the enclosed letter. M r . A. M . Burke recommends that this extension be made. I also recommend accordingly and request that I be authorized to make the necessary arrangements for the extension of this loan. This loan is a first mortgage on 339 acres of land adjoining the corporate limits of the city of Benton and pays interest at the rate of 7 per cent per annum. Cordially yours,

Lloyd Morey

Comptroller O n motion of M r . Barr, this matter w a s referred to the Finance C o m m i t t e e , with p o w e r to act. O n m o t i o n of M r s . B u s e y , the President of the B o a r d w a s designated to act as c h a i r m a n of the Finance C o m m i t t e e during the absence of M r . Trees.