Repository: UIHistories Project: Board of Trustees Minutes - 1984 [PAGE 245]

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236

BOARD OF TRUSTEES

[May 19

payment of $1,000, plus a $1,000 location fee, payable prior to drilling. T h e University property will be pooled with an adjacent five-acre tract and the company will pay the standard one-eighth royalty for oil and gas produced. T h e dean of the College of Agriculture has reported that the lease will not interfere with the college's use of the property. All lease fees and any royalties received will be used in support of agricultural operations activity. The chancellor at Urbana-Champaign has recommended that the University enter into the lease as described. The vice president for business and finance concurs. I recommend approval.

On motion of Mr. Hahn, this recommendation was approved.

Sale of Land in Germany (Estate of Carl de Boer)

(16) Carl de Boer died in 1974 leaving a last will and testament in which he bequeathed a portion of his estate to the University of Illinois to establish an endowment, the income to be used for the benefit of graduate students and postdoctorate fellows pursuing studies in virology and immunology. In addition to the will noted above, which was executed in New York, Dr. de Boer had executed a previously dated will in Germany. The German will provided for a different disposition of his estate than the American will. Since 1976, concurrent estate proceedings have been in progress in New York and Germany. Only within the last year have the University and the Bank of New York (the executor) been able to have the later will declared the Last Will and Testament of Carl de Boer. On December 23, 1982, the University received a partial distribution of the estate in the amount of $210,000. T h e principal asset of the estate consists of farmland located in Germany. The transfer of farmland in Germany is radically different from the process in the United States, and the University has only recently managed to clear the title and obtain authority over the land with the assistance of a German attorney. It was determined that the farmland should be offered for sale, with the proceeds used in accordance with Dr. de Boer's will. An appraisal obtained by the University valued the property at 943,538.70 deutschemarks (approximately $380,000) as of November 1982. A public auction of the property was held on April 27, 1983. T h e highest bid, D M 1,009,138.95 (approximately $410,000), was received from the present tenant, a Mrs. Hilda Steffens. T h e purchaser has signed a document for payment of the above amount, subject to approval by the University. The bid is valid through June 30, 1983. T h e vice president for business and finance and the university counsel have recommended that the board approve the sale of the land for D M 1,009,138.95 and that authority be given to the comptroller and the secretary to execute the necessary documents to approve the sale and transfer of the property. I concur.

On motion of Mr. Hahn, this recommendation was approved and authority was given as recommended. By consensus, the board agreed that one vote would be taken and considered the vote on each agenda item nos. 17 through 31 inclusive. The recommendations were individually discussed but acted upon at one time. (The record of board action appears at the end of each item.)

Award of Contracts for Upgrading of Fire Protection, Chicago

(17) T h e president of the University, with the concurrence of the appropriate administrative officers, recommends the award of the following contracts for up-