Repository: UIHistories Project: Board of Trustees Minutes - 1988 [PAGE 92]

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82

BOARD O F T R U S T E E S

[September

11

Resolution Granting Easement Along North Border of Brownstown Agronomy Research Center in Fayette County, Illinois

Be It, and It Hereby Is, Resolved by the Board of Trustees of the University of Illinois, a public corporation of the State of Illinois, that the Comptroller and Secretary of this corporation be, and they hereby are, authorized to execute, acknowledge, and deliver, in the name and on behalf of this corporation, such instruments of conveyance, contract, or other document or documents as to them may seem necessary or desirable in order to grant to Illinois Bell Telephone Company, an Illinois Corporation, hereinafter referred to as "Company," its successors, and assigns, the right and easement to construct, operate, patrol, and maintain its communication lines including the necessary underground cables, wires, conduits, splicing boxes, surface terminals, markers and appurtenances upon, under, and across the land hereinafter specifically described, to form a part of a communication system to be owned by said Company in Fayette County, Illinois, to other lands and structures located beyond the land hereinafter described, and with the right of access to said land hereinafter described. Company shall agree to repair any damage caused to property of this corporation by the construction, reconstruction, operation, patrolling, maintenance, renewal or removal of said telephone communications cable, and to idemnify the University and its representatives and tenants from liability in connection with its activities; the term of said easement to be for such period as the easement may be used for the above-described purposes, but upon the discontinuation of use of or abandonment of said telephone communications cable, said easement to thereupon cease and determine without necessity of re-entry or demand; the rights and easement granted to be limited to the extent that this public corporation has the present right and capacity to grant the same. The right-of-way easement shall be over the following described property and bordering Illinois Route 185, viz: The Right-of-Way Easement Being More Particularly Described as Twenty (20) Feet Wide and One Thousand Three Hundred Twenty (1320) Feet ± in Length, Located South of Adjoining to and Parallel with the South Right-of-Way line of Illinois Route 185. In Part of the East One Half (V4) of the Northeast Quarter (W) of Section Twenty-Two (22), Township Six (6) North, Range Two ( 2 ) , East of the Third Principal Meridian, Fayette County, State of Illinois. O n m o t i o n of M r . Forsyth, this r e c o m m e n d a t i o n w a s approved a n d t h e foregoing resolution a d o p t e d .

Authorization to Participate in the Common Fund for Short Term Investments

(22) The Common Fund is a nonprofit organization founded in 1971 by the Ford Foundation to provide investment management services exclusively for educational institutions. The Common Fund for Short Term Investments includes 700 participating educational institutions with invested assets of about $2.5 billion. Big Ten institutions participating include Iowa, Michigan, Michigan State, Minnesota, and Northwestern. The fund invests in short-term obligations such as U.S. Treasury bills, obligations of U.S. government agencies, certificates of deposit, commercial paper, Euro-dollar CD's, and repurchase agreements. Liquidity is provided on the same day so long as the withdrawal request is made prior to 2:00 p.m. Investment management and administrative costs are about .19 of one percent of the quarterly average daily collected balance. Over the past ten calendar years, the fund has outperformed all commercial money market funds and the average 90-day Treasury bill rate. It has produced