Repository: UIHistories Project: Board of Trustees Minutes - 1988 [PAGE 481]

EXTRACTED TEXT FROM PAGE:

1988]

UNIVERSITY OF ILLINOIS

471

Mexico Inc., has offered a three-year oil and gas lease for the tract at $75 paid-up bonus per acre and $10 rental per acre. The lease provides for the company to pay a one-fifth royalty for oil and gas produced. The vice president for business and finance has recommended that the University enter into the lease as described. I concur. On motion of Mrs. Gravenhorst, this recommendation was approved. By consensus, the board agreed that one roll call vote would be taken and considered the vote on each agenda item nos. 12 dirough 18 inclusive. The recommendations were individually discussed but acted upon at one time. (The record of board action appears at die end of each item.) Lease with University Park imaging Corporation, Urbana (12) On May 8, 1986, the Board of Trustees approved an agreement between the Servants United Foundation (Mercy Division) and the University, a joint effort, to support research in the biomedical applications of nuclear magnetic research. Paul Lauterbur, director of research, magnetic resonance imaging, and professor of medical information sciences, and M. Joan Dawson, associate professor, College of Medicine at Urbana-Champaign, are conducting the research. The research program will be primarily housed in facilities at 1307 West Park, Urbana, to be leased to the University by University Park Imaging Corporation (UPIC) of Kankakee, Illinois. The lease will provide 7,100 square feet of space for an initial period of September 1, 1987, to June 30, 1988. The rental rate is $10,417 per month, a total of $104,167 for the initial ten-month lease. UPIC will provide utilities, custodial, and all interior and exterior maintenance and repair. The University will have the right to renew annually starting July 1, 1988, and continuing through June 30, 1998. The University also will have the option upon 90 days' written notice to lease an additional 1,200 square feet or less at an annual rental rate of $15 per square foot. Funds for the initial period and for renewal to August 31, 1990, will be provided by Servants United Foundation through the cooperative research agreement Funds for the period September 1, 1990, through June 30, 1998, will be included in the annual operating budget requests for the Urbana campus. The interim chancellor at the Urbana-Champaign campus has recommended approval of the lease as described for die period September 1, 1987, to June 30, 1988, and annual renewal agreements as described, subject to the availability of funds as determined by the comptroller. I concur.

On motion of Mr. Wolff, this recommendation was approved by the following vote: Aye, Mrs. Calder, Mr. Forsyth, Mrs. Gravenhorst, Mr. Hahn, Mr. Howard, Mr. Logan, Miss Smith, Mr. Wolff; no, none; absent, Mrs. Shepherd, Governor Thompson. (The student advisory vote was: Aye, Mr. Evenson, Mr. Wylie; no, none.)

Contract for Electric Service, Willard Airport (13) Operation of the new Willard Airport Terminal Building and support facilities will require service from a power distribution system with greater capacity and reliability than the Ti«ting one. Service is now being provided by the Illinois