Repository: UIHistories Project: Board of Trustees Minutes - 1986 [PAGE 47]

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36

Date 6/21 6/21

BOARD OF T R U S T E E S

[July 19

$

6/21 6/21 6/22

6/22 6/28 6/28 6/28 6/28 6/29 6/29 6/29

Number Description Cost/Yield Amount 397 000 Household Finance demand n o t e s . . . 10.80% $ 397 000 00 1 500 000 First National Bank of Chicago 11.55 percent certificate of deposit due 10/25/84 11.55 1 500 000 00 1 000 000 U.S. Treasury bills due 10/4/84 10.32 970 775 00 100 000 U.S. Treasury bills due 10/25/84 10.53 96 447 50 2 000 000 First National Bank of Chicago 11.60 percent certificate of deposit due 10/4/84 11.60 2 000 000 00 2 000 000 U.S. Treasury bills due 1 0 / 1 8 / 8 4 . . . 10.37 1 934 247 78 100 000 U.S. Treasury bills due 9 / 2 0 / 8 4 9.96 97 729 67 180 000 U.S. Treasury bills due 3/21/85 11.78 165 582 80 100 000 U.S. Treasury 9% percent notes due 11/30/84 10.81 99 468 75 100 000 U.S. Treasury 9% percent notes due 12/31/84 11.24 99 093 75 450 000 U.S. Treasury bills due 9 / 2 0 / 8 4 9.99 439 863 62 3 000 000 U.S. Treasury bills due 10/4/84 10.18 2 919 894 17 200 000 U.S. Treasury bills due 1 0 / 1 1 / 8 4 . . . 9.93 194 422 56

On motion of Mr. Madden, this report was approved as presented.

Lease of Space to Bill Hunsinger, Urbana

(41) Dr. Bill J. Hunsinger, professor of electrical engineering, and associates in the Coordinated Science Laboratory, Urbana campus, have invented a new semiconductor-based technique called Acoustic Charge Transport ( A C T ) . The work promises to enhance substantially the performance of present technology. Its most immediate application is in certain defense equipment, but it has long-term significance for other commercial technology. Basic patent coverage is now being sought by the University. The U.S. Defense Advanced Research Projects Agency (DARPA) wishes to provide major financial support to accelerate the development of A C T to the stage where engineering applications can be routinely performed. The development involves concurrent efforts in applied engineering design and continued study of the fundamental physical processes. In consultation between DARPA and the University, it has been determined that the work should be pursued as parallel but coordinated projects, both inside and outside the University. T h e decision to conduct part of the project outside the University is based on the applied nature of the engineering design phase, the urgency of the desired development, and DARPA's requirement that certain aspects of the work be kept confidential. T h e applied engineering phase will be pursued by a private company, Electronic Decisions Incorporated ( E D I ) , under contract to DARPA and subject to patent-licensing agreements between E D I and University Patents, Inc. Professor Hunsinger, who organized EDI, is its sole shareholder and will serve as its president. He will continue as a part-time employee of the University. The basic A C T research phase will continue at the Coordinated Science Laboratory under a contract between EDI and the University. To ensure coordination between the two developmental phases, it is important that the two activities be in proximity. Professor Hunsinger — through an entity, University Microelectronics Center ( U M C ) ' — has acquired private property close to the laboratory, in which most of the technical activities will occur.

1 UMC, a proprietorship owned by Bill J. Hunsinger, has been formed primarily to provide real estate facilities to EDI on a lease basis. This has been done with the concurrence of Federal contracting officers to simplify cost recovery in EDI's cost-plus-fixed-fee contracts. For various financial reasons related to government regulations, the lease will be held in UMC's name; and UMC will, in turn, arrange a sublease with EDI on the same terms that UMC receives from the University.