Repository: UIHistories Project: Board of Trustees Minutes - 1988 [PAGE 349]

EXTRACTED TEXT FROM PAGE:

1987]

UNIVERSITY OF ILLINOIS

339

3. Adoption of a resolution authorizing and providing for the issuance of University of Illinois Willard Airport Project Revenue Bonds, Series 1987 of the Board of Trustees of the University of Illinois prescribing all the details of said bonds and providing for the security and payment thereof.' 4. Approval of Champaign National Bank, Champaign, as the bond registrar and paying agent under the resolution referred to in paragraph 3, above. 5. Authorization of the comptroller to receive bids for the Series 1987 Bonds and to award the sale thereof at a maximum interest rate and at an interest cost to the board not exceeding the greater of 9 percent per annum or 125 percent of the rate for the most recent date shown in the 20 G.O. Bonds Index of the average municipal bond yields as published in the most recent edition of The Bond Buyer, published in New York, New York, at the time the contract is made for the sale of the Series 1987 Bonds. 6. Ratification and confirmation of all actions taken or to be taken by the officers and members of the board in connection with the sale and delivery of the Series 1987 Bonds. 7. That the comptroller and other authorized officers of this board be and they are hereby authorized and empowered to do and perform such other acts and things and to make, execute, and deliver all such other instruments and documents on behalf of this board as may be by them deemed necessary or appropriate to comply with or to evidence compliance with, the terms, conditions, and provisions of the Official Statement, the Official Notice of Bond Sale, the Official Bid Form and the Bond Resolution, and all acts and things whether heretofore or hereafter done or performed by and of the officers of this board which are in conformity with the intents and purposes of these resolutions shall be and the same are hereby in all respects ratified, confirmed, and approved.

On motion of Mr. Forsyth, these recommendations were approved by the following vote: Aye, Mr. Forsyth, Mrs. Gravenhorst, Mr. Hahn, Mr. Howard, Mr. Logan, Mrs. Shepherd, Miss Smith, Mr. Wolff; no, none; absent, Governor Thompson. (Mrs. Calder asked to be recorded as not voting.) (The student advisory vote was: Aye, Mr. Evenson, Mr. Wylie; no, none.)

University Affiliation with the Med Care Health Maintenance Organization

(35) Since the fall of 1986, administrators a t the Chicago campus have been discussing with officers of the Med Care Health Maintenance Organization (Med Care H M O ) the possibility of developing further relationships. The Med Care H M O is a not-for-profit organization, owned and operated by six Chicago-area community hospitals. 2 Under the arrangement being discussed, the University would purchase an equity interest in the Med Care H M O and the University of Illinois Hospital ( U I H ) would become the exclusive tertiary care provider to Med Care H M O

1 A copy is filed with the secretary of the board for record and the appropriate officers of the board are hereby authorized and directed to execute the same in the name and on behalf of the board in substantially the form presented to this meeting, or with such changes as may be approved by the officer or officers of the board executing the same, his or their execution thereof to constitute conclusive evidence of the board's approval of all changes from_ the form thereof presented to this meeting; provided, however, that if any such changes constitute a substantial change in the form thereof presented to this meeting they shall first be approved by the Executive Committee of the board, to which authority for such approval is delegated by the board. 1 The hospitals are: Loretto; Mary Thompson; Central Community; South Shore; South Chicago; and Thorek.