Caption: Board of Trustees Minutes - 1980
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1979] UNIVERSITY OF ILLINOIS 167 T h e nominations were closed, and the secretary was instructed to record the unanimous ballot of the board for Mr. Manchester as treasurer of the board for a two-year term in accordance with the statutory provision for a biennial term for treasurer. T h e ballot was so cast, and Mr. Manchester was declared elected treasurer to serve until the annual meeting of 1981, or until his successor shall have been elected and qualified. Treasurer's Bond On motion of Mr. Howard, the at $6,000,000. On motion of Mr. Howard, see that the treasurer presents a above and to report the same to amount of the treasurer's bond was fixed the Finance Committee was instructed to satisfactory bond in the amount specified the board. Authority to Receive Moneys Mr. Howard offered the following resolution and moved its adoption: Resolved that the Treasurer of the Board of Trustees of the University of Illinois be, and hereby is, authorized to receive and receipt for all moneys, and to endorse all orders, drafts, and checks due and payable to the Board of Trustees or to the University of Illinois, and especially all drafts drawn by the Treasurer of the United States payable to the Board of Trustees or the University of Illinois. The resolution was unanimously adopted. Delegation of Signatures On motion of Mr. Howard, the following resolution was unanimously adopted. Resolved that the President of the Board of Trustees is authorized to delegate to such individuals as he may designate from time to time authority to sign his name as President of the Board of Trustees to vouchers presented to the State Comptroller and authority to sign his name to warrants on the University Treasurer covering vouchers approved in accordance with regulations approved by the Board; and Resolved further that the Secretary of the Board of Trustees is authorized to delegate to such individuals as he may designate from time to time authority to sign his name as Secretary of the Board of Trustees to vouchers presented to the State Comptroller and to warrants on the University Treasurer covering vouchers approved in accordance with regulations of the Board. Be It Further Resolved that the First National Bank of Chicago as a designated depositary of R. R. Manchester. Treasurer of this corporat'on be and it (including its correspondent banks) is hereby requested, authorized, and directed to honor checks, drafts, or other orders for the payment of money drawn in this corporation's name, including those drawn to the individual order of any person or persons whose name or names appear thereon as signer or signers thereof, when bearing or purporting to bear the facsimile signatures of the two following: President and Secretary; and the First National Bank (including its correspondent banks) shall be entitled to honor and to charge this corporation for a'l su"h checks, drafts, or other orders, regardless of by whom or by what means the facsimile signature or signatures thereon may have been affixed thereto, if such facsimile signature or signatures resemble the facsimile specimens duly certified to or filed
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