Repository: UIHistories Project: Board of Trustees Minutes - 1938 [PAGE 836]

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834

BOARD OF TRUSTEES

[June 9

On motion of Mr. Pogue, the following resolution was adopted:

Whereas, the Executive Committee of the Board of Trustees of the University of Illinois did on May 14, 1938, adopt a resolution authorizing A. C. Willard to execute and file on behalf of the Board of Trustees of the University of Illinois an application to the United States of America for a loan and grant or grant to aid in financing the construction of a student union building, and to furnish such information as the United States of America through the Federal Emergency Administration of Public Works may reasonably request in connection therewith; Now, therefore, be it further resolved, by the Board of Trustees of the University of Illinois, that the amount of such loan and grant or grant to be applied for shall be one million dollars ($1,000,000) ; and Be it further resolved, by the Board of Trustees of the University of Illinois, that A. C. Willard be, and he is hereby, empowered to include in his application requests for the following loans and grants, or grants (grants in all cases to be forty-five per cent (45%) of the total costs), for buildings to be constructed at the approximate amounts indicated below: Building to replace University Hall $ 772 727 Library addition 350 000 Hospital addition 150 O O O Dormitories 1 180 000

ILLINOIS ORCHARD COMPANY BONDS

M r . Moschel, for the Finance Committee, presented the following: On April 27, 1938 (page 787), a report was made to the Board of Trustees concerning foreclosure on Illinois Orchard Company bonds received as a part of the Kendric C. Babcock Endowment Fund. At that time the possibility of further recovery from mineral rights was indicated. The trustee now requests the Board to execute a quit-claim deed to the property to enable him to realize on the mineral rights. The Finance Committee recommends that the President and the Secretary of the Board be authorized to execute such a deed on the execution of a declaration of trust by the trustee of the bond issue, satisfactory to the University Counsel and the Comptroller.

On motion of Mr. Moschel, this recommendation was approved and the officers of the Board were authorized to execute the necessary documents.

PURCHASE OF ILLINOIS UNION PROPERTIES

The Comptroller presented the following report from the Special Committee of the Board of Trustees appointed to consider the purchase of Illinois Union properties:

The Special Committee appointed March 18, 1938, to consider the purchase of the Illinois Union Building submits this report. The committee has inspected the properties owned by the Union and considered the reports and recommendations of the faculty committee appointed by the President to review this matter, copies of which have been sent to all members of the Board of Trustees. Status of Illinois Union.—The Illinois Union operates in a dual capacity. As a corporation, it consists of a board of directors made up of members of the faculty appointed by the President, alumni appointed by the Alumni Association, and students elected by student members of the Illinois Union. The same board supervises the activities of the Illinois Union, a student association of which all undergraduate men students of the University automatically are members. Although as a corporation the Union is legally distinct and separate from the University, it is in fact an agency of the University. Properties of the Union.—The properties owned by the Union include the Union Building at the corner of Wright and John Streets, a vacant area to the