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Caption: Board of Trustees Minutes - 1986
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138 BOARD OF TRUSTEES [January 17 Mr. Forsyth moved that a unanimous ballot be cast for their election. The nominations were closed, a unanimous ballot was so cast, and the incumbents — Mr. Porter, Mr. Bazzani and Mr. Higgins — were declared elected secretary, comptroller, and university counsel of the board, respectively, to serve until the next annual meeting of the board or until their successors are elected. Treasurer of the Board On motion of Mr. Madden, Mr. Bernard T. Wall was reelected to serve as treasurer of the board for a two-year term in accordance with the statutory provision for a biennial term for treasurer. Mr. Wall will serve until the annual meeting of 1987, or until his successor is elected and qualified. Treasurer's Bond On motion of Mr. Howard, the amount of the treasurer's bond was fixed at $6,000,000 and the Finance and Audit Committee was instructed to see that the treasurer presents a satisfactory bond in the amount specified above and to report the same to the board. Authority To Receive Moneys M r . H o w a r d offered t h e f o l l o w i n g r e s o l u t i o n a n d m o v e d its a d o p t i o n : 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 Bernard T . Wall, treasurer of this corporation, 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
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