Repository: UIHistories Project: Board of Trustees Minutes - 1980 [PAGE 471]

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460

BOARD OF TRUSTEES

[November 15

ters would be located on University property which would be leased to the Mass Transit District. The leases would begin no sooner than November 19, 1979, ending June 30, 1980. They would be automatically renewed from year to year unless terminated on prior 90 days' notice by either of the parties. T h e terms would provide for rental payments to the University at an annual rate of $100 for each bus shelter site. The Mass Transit District would, at its expense, construct and maintain the shelters and the University would provide the electricity for lighting and minimal heating. All design and construction and final location would be subject to University approval and the Mass Transit District would be required to provide liability insurance and to indemnify properly the University. At the termination of the leases, the district would remove the shelters and return the sites to substantially the present condition. Shelter locations as presently determined are: One at the southeast corner of Orchard Place and Orchard Street in the Orchard Downs married student apartment complex; and One at the north side of George Huff Drive at the northeast corner of Orchard Street and George Huff Drive in the Orchard Downs married student apartment complex. T h e chancellor at the Urbana campus and the vice president for Administration have recommended that leases as described above be executed with regard to the bus shelters currently proposed; and that similar leases, under the same terms and conditions, be executed later as locations are mutually agreed upon between the Mass Transit District and University administrative officers. I concur.

Oil and Gas Lease, Higginson Farm

(13) In 1970 the University received a 120-acre farm in Wabash County from the estate of Ethel Vi. Higginson. Consistent with the terms of the will, the land is currently being farmed, with the income reserved for the development of agricultural experiment station(s) in memory of Mrs. Higginson's husband, Glenn D. Higginson. On June 21, 1978, the board authorized entering into a one-year oil and gas lease covering the 120 acres with the Illinois Mid-Continent Company of Mt. Carmel, Illinois. The lease provided for the payment of $1,200; University participation (one-eighth) in oil or gas discovered; and surface and crop damage provisions. This lease has now expired. The Hocking Oil Co., Inc., of Mt. Carmel, Illinois, has now offered a oneyear oil and gas lease for $10.00 per acre ($1,200), with a $500 payment as partial land damages to be paid before beginning drilling operations an each location. T h e lease also carries the royalty provision of one-eighth for gas and oil produced and has a standard crop damage provision. T h e manager of the University Trust Farms has recommended that the University enter into the lease, inasmuch as farming operations will not be hindered and the lease and potential royalties provides an additional source of income. T h e vice president for administration has concurred in the recommendation. I concur.

Roll Call Items T h e following six items (14 through 19 inclusive) were approved by one motion, that of Mr. Howard. The recommendations were individually discussed but acted upon at one time. T h e student advisory vote was: Aye, Mr. Grady, Mr. Sobotka, Miss Wyncott; no, none.