Caption: Board of Trustees Minutes - 1936
This is a reduced-resolution page image for fast online browsing.
EXTRACTED TEXT FROM PAGE:
626 BOARD OF TRUSTEES LEASE OF NALLY PROPERTY FOR O I L STATION [April 18 Mr. Mayer presented a recommendation of the Finance Committee for the acceptance of a proposal of the Mid-Continent Petroleum Corporation to lease for five years, with option of two five-year extensions, at a minimum annual rental of $420 and a maximum of $840. The Company will make all improvements and pay all taxes thereon. On motion of Mr. Mayer, this recommendation was adopted. INVESTMENT O F E N D O W M E N T F U N D S Mr. Mayer presented a further recommendation of the Finance Committee that $6,000 of uninvested endowment funds be invested in the following: $3,000 Kansas Power and Light Company, 4J4 per cent bonds of 1965, at approximately 108. $3,000 Central Illinois Light Company, 3^ per cent bonds of 1966, at approximately I0SJ4. On motion of Mr. Mayer, these investments were authorized. MEMBERSHIP IN UTILITY INVESTORS ASSOCIATION Mr. Mayer presented also a recommendation of the Finance Committee that the University continue its membership in the Utility Investors Association for one year beginning September 1, 1936 at a cost of $25. On motion of Mr. Mayer, this membership was authorized. INTEREST RATES ON S T U D E N T LOANS Mr. Mayer, for the Finance Committee, presented also a recommendation that the rates of interest on student loan funds be reduced as follows: During the period of attendance at the. University, and for one year thereafter, 4 per cent. One year after graduation or withdrawal, and to maturity of the notes, 5 per cent. After maturity (except in meritorious cases) 7 per cent. On motion of Mr. Mayer, these rates were authorized. BIDS ON ADDITION TO M I N I N G A N D M E T A L L U R G I C A L LABORATORY Mr. Barrett for the Committee on Buildings and Grounds, presented a schedule of the bids received on April 13 for the construction of the addition to the Mining and Metallurgical Laboratory. Bidders George Bennett T . J . Corkery GENERAL WORK Alternate fi Base Bid (Deduct) $27 387 00 S 700 00 2890000 {£ g£ "} Alternate iz (Deduct) £500 00 72500 Bond £414 00 43500 Check £900 00 89000 1 000 00 I 000 00 1 100 00 E. N. DeAtley 31 458 00 ( B I 000 00} 85000 46500 English Bros 31 000 00 I 000 00 850 00 465 00 John Felmley Co 30 800 00 1 000 00 1 100 00 350 00 Alternate f 1.—If Haydite concrete blocks are substituted for glazed tile, etc. Alternate ti.—If changes are made in construction of second-story ceiling and roof. Bidders Kewaunee Mfg. Co W. W. Kimball Co WalrusMfg.Co Hamilton-Invincible Co W. M. Welch Mfg. Co LABORATORY EQUIPMENT Base Bid $S 747 83 oocooo :.:.... 8 062 11 Bond tiooo .... 27 so ..... Check $265 °° 30000 270 00
| 
