Repository: UIHistories Project: Board of Trustees Minutes - 1986 [PAGE 461]

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BOARD OF TRUSTEES

[January 16

contingency, total $29,500,000, which is identical with that shown in the November 14 board item. BSC issued $35,800,000 in Certificates of Participation to provide funds for the system, to capitalize the first three semiannual interest payments to the certificate holders (June 1, 1986-June 1, 1987) while the system is being installed, to fund a Debt Service Reserve which ultimately will be used to pay a portion of the principal and interest, and to provide funds for the underwriter's discount and issuance costs. The University will make seventeen semiannual payments on the certificates (December 1, 1987-December 1, 1995), each net payment in an approximate amount of $2,480,000 for a total anticipated outlay of approximately $42,150,000 of University funds to acquire the system. This amount is within the amount estimated in the November 14 board item ($42,500,000); however, each semiannual payment is higher than estimated in November ($2,480,000 versus $2,236,000) because the number of payments has been reduced from nineteen to seventeen. The closing of the lease-purchase agreement with BSC, and attendant financial agreements, occurred on December 27, 1985. The Illinois National Bank of Springfield will act as trustee.

Retreat1

President S h e p h e r d t h e n asked E l m e r B. H a d l e y , c h a i r m a n , a n d K e n n e t h E . Andersen, secretary, of d i e University Senates Conference, t o report o n d i e retreat scheduled for February 12, 1986. T h e report follows. The University Senates Conference wishes to express its appreciation to the board for this opportunity to report on the tentative plans for die February 12 retreat on "Appropriate University Responses to Public Policy Issues." It might be helpful to commence this report with a brief chronology of events following the conference's acceptance in November of the board's invitation diat the conference sponsor such a retreat. A planning subcommittee drawn from conference members from both campuses was appointed and met in Chicago in late November to develop preliminary proposals for consideration by the conference at a special meeting in Urbana on December 10. At the December 10 meeting, the conference adopted a tentative agenda for the retreat and a proposal for die composition and selection processes for invited participants. These were detailed in a press release issued the following day. At the December 10 meeting the conference instructed its chair to write to the chairs of the executive committees of the senates, die presidents of the student government associations, and die chairs of the student senator organizations of both campuses, informing them of these tentative decisions and asking diem to commence the selection processes for faculty and student participants. The conference also designated specific members to follow up on Uiose letters by personally contacting the presidents and chairs of the student government associations and student senator organizations, to explain the tentative proposals and to receive comments and reactions. The planning subcommittee met again in Chicago on January 9 to review the comments and reactions and to continue the planning process. At the January 9 meeting, the proposed agenda was altered in response to student suggestions. A seventh small discussion group topic "How effective has the University's past and current policy of selective divestment been as a strategy for either attacking the apartheid policies of South Africa or enunciating the value commitments of the University" was added to the agenda, and to encourage more informed discussion by removing the provision that the group topics were subject to change and by allowing participants to state their group preferences (first, second, and third choices) and to receive their group assignment prior to the day of the retreat in1 Participants in the retreat will be: the members of the Board of Trustees, the president of the University, the two vice presidents, the two chancellors, and the other four gejieral officers; the vice chancellors for acartrmic affair* and for student affairs from both campuses; fourteen faculty members (seven from each campus); thirty students (fifteen from each campus); and the eighteen members of the University Senates Conference.