Repository: UIHistories Project: Board of Trustees Minutes - 1984 [PAGE 127]

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118

BOARD OF TRUSTEES

[January 20

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 Mrs. Shepherd offered the following resolution and moved its adoption:

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 Mr. Madden offered the following resolution and moved its adoption:

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 depository 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 bearing or purporting to bear the facsimile signatures of the two following: president and secretary; and the First National Bank of Chicago (including its correspondent banks) shall be entitled to honor and to charge this corporation for all such checks, drafts, or other orders, regardless of by whom or by what means the facsimile signature or signatures thereon may have been affixed thereto, if such facsimile signature or signatures resemble the facsimile specimens duly certified to or filed with the First National Bank of Chicago by the secretary or other officer of this corporation. And Be It Further Resolved that the State Comptroller is hereby authorized and directed to honor vouchers bearing facsimile signatures of the president and secretary of the Board of Trustees of the University of Illinois if such facsimile signatures resemble the facsimile specimens duly certified to or filed with the State Comptroller by the secretary. These authorizations are to continue in effect until the State Comptroller has been supplied with specimen signatures of succeeding officers of this board.

The resolution was unanimously adopted.