Repository: UIHistories Project: Board of Trustees Minutes - 1936 [PAGE 512]

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BOARD OF TRUSTEES

[January

24

APPROPRIATION TO PHYSICAL PLANT DEPARTMENT

(6) A recommendation that the following assignments be made from the General Reserve Fund to the Physical Plant Department: For the replacement of awnings, blinds, and shades in various buildings.. .$5 400 For acoustical treatment of rooms in various buildings 4 100 Total $9 500 On motion of D r . Meyer, this appropriation was made, by the following vote: Aye, M r . Barr, M r . Barrett, M r s . F r e e m a n , M r . Karraker, Mr. Mayer, Dr. Meyer, M r . Wieland, M r . W i l l i a m s ; no, none; absent, Mr. Horner, M r s . Plumb, M r . Pogue.

PURCHASE OF PROPERTY ADJACENT TO UNIVERSITY GROUNDS

(7) At the meeting of the Board on November 27 (Minutes, page 475), the Board voted to exercise certain options on two parcels of property adjacent to the campus, and an appropriation of $10,600 was made from the General Reserve Fund for this purchase. The Comptroller reports that he has concluded the purchases of these properties as follows: Unit A, at a price of $6,100, free of all encumbrances whatever, including taxes for 1935 payable in 1936. The property includes a building which is under lease until June 15, 1936, at a rental of $450 per year, the entire amount of which is to be applied on repairs and improvements, so that no income will accrue during that period. The lease gives the lessee an option to renew, at the same rate of rental, for two additional years. Fire and windstorm insurance in the amount of $6,000 is carried on the building. In addition to the land occupied by the building, this parcel of property purchased includes a vacant tract approximately 30 feet wide on the south side of the building. Unit B, at a price of $4,500, subject to three unpaid pavement installments amounting to a total of approximately $48, due after 1936. The purchase price has been paid in full except as to an amount withheld to cover taxes for 1935, payable in 1936. The property consists of a lot 49/ x 296', less a 25' x 146' rectangle in the northeast corner, and a three-story frame dwelling. Fire and windstorm insurance in the amount of $5,500 is carried. The descriptions of these properties are in the records of the Secretary of the Board. The conveyance in each case was made to a member of the Business Office staff who in turn conveyed it to the Board of Trustees. At its meeting on December 18 (Minutes, page 489), a report was made on another property adjoining the University grounds in which the Board was interested and on which an option effective until January 4, 1936, had been secured. The Board authorized the extension, or acceptance, of the option at the best terms possible and an appropriation of $1,000 was made from the General Reserve Fund for this purpose. The Comptroller reports that the best arrangement possible was to secure a contract for the purchase of the property at a price of $7,500, $750 to be paid at this time, the balance on or before July 1, 1936. The payment of $750 has been made and the contract and assignment for this property has been filed with the Secretary of the Board.

This report was received for record.

SCHEDULE OF PROPOSED LAND ACQUISITIONS

(8) In accordance with the instructions of the Board of Trustees at its meeting on December 18, 1935 (Minutes, page 489), the Physical Plant Department has obtained additional options on certain properties and submits a schedule of other properties, the purchase of which should be considered in the near future as part of the Board's policy of acquiring additional land. In case funds are not available to acquire all of the tracts recommended, the Department also recommends the order in which properties should be acquired. A copy of the schedule of properties and of the Department's recommendation is herewith handed to the Secretary of the Board for record. On motion of M r . Barr, the purchase of Lot A on Polk Street, in