Caption: Board of Trustees Minutes - 1936
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528 BOARD OF TRUSTEES [February 22 EXECUTIVE COMMITTEE MEETING, FEBRUARY 1 2 , 1 9 3 6 A meeting of the Executive Committee of the Board of Trustees of the University of Illinois was held at the University Club, in Chicago, at 12 o'clock noon on Wednesday, February 12, 1936. Mr. Edward E. Barrett and Dr. Karl A. Meyer, members of the Committee, were present; also Judge Johnson, University Counsel, Professor Morey, Comptroller, and the Secretary of the Board. Mr. Barrett acted as Chairman. FINANCING A N D CONSTRUCTION OF MEDICAL A N D DENTAL BUILDING The Secretary of the Board stated that President Willard had requested him to state to the Executive Committee that the President had been over the matters connected with the financial arrangements for the construction of the second unit of the Medical and Dental College Laboratories Building to be presented to the Executive Committee on February 12, that he was thoroughly familiar with them, and that he approved the recommendations; that owing to the pressure of business in his office he would not be able to attend the meeting; and that he had asked Judge Johnson to present those matters of a legal nature, and Mr. Morey to present those matters of a financial nature. Judge Johnson presented the following matters: TRUST AGREEMENT (1) A trust agreement to be executed by, between, and among the United States of America, the University of Illinois, and a Trustee to be agreed on. On motion of Dr. Meyer, the President and the Secretary of the Board were authorized to execute this trust agreement. CONSTRUCTION F U N D A G R E E M E N T (2) A construction fund agreement to be executed by, between, and among the University of Illinois, the University of Illinois Foundation (or such other person as may be agreed on), and a depository bank (the First National Bank of Chicago), providing for the disbursement of the Federal Grant (Construction Fund A) and the Federal Loan (Construction Fund B). On motion of Dr. Meyer, the President and the Secretary of the Board were authorized to execute this agreement. VERIFICATION A N D INSURANCE OF TITLE (3) A recommendation that the Comptroller be authorized to verify the title to the land on which the second unit of the Medical and Dental College Laboratories Building is to be erected, and to secure such title insurance as may be necessary. On motion of Dr. Meyer, this authority was granted. LEGISLATION REQUIRED FOR FINANCING CONSTRUCTION OF MEDICAL A N D DENTAL BUILDING (4) In order to meet the conditions and requirements of the Federal Emergency Administration of Public Works with reference to the arrangements for the financing of the second unit of the Medical and Dental College Laboratories Building, it will be necessary to secure amendments to certain Acts of the General Assembly of Illinois, specifically the Act of the Fifty-ninth General Assembly authorizing the Board of Trustees of the University of Illinois to enter into an agreement with the Federal Government for the construction of this building and the Act transferring the title to the site on which the building is being erected to the Board. It is recommended that the Executive Committee authorize the President of the University to have such legislation as is necessary to meet these require-
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