Repository: UIHistories Project: Board of Trustees Minutes - 1984 [PAGE 320]

EXTRACTED TEXT FROM PAGE:

1983]

UNIVERSITY OF ILLINOIS

311

Resolution of the Board of Trustees (Authority To Open Bank Account) Be It Resolved, that T h e First National Bank of Chicago — Paris Branch (the "Bank") be, nnd it hereby is, designated a depositary in which the funds of this Corporation may be deposited by its officers, agents, and employees, and that such officers, agents, and employees shall be, and each of them hereby is, authorized to indorse for deposit any and all checks, drafts, notes, bills of exchange, and orders for the payment of money, either belonging to or coming into possession of this Corporation. Indorsements for deposit may be by the written or stamped indorsement of this Corporation without designation of the person making the indorsement: Be It Further Resolved, that Miodrag Ristic, Professor, Veterinary Pathology, and either T. L. Brown, Vice Chancellor For Research, or Robert A. Compratt, Staff Associate (one of which will co-sign with Miodrag Ristic) of this Corporation are authorized to sign any and all checks, drafts, and orders against any funds or accounts at any time standing to the credit of this Corporation with the Bank, and that the Bank is authorized to honor any and all checks, drafts, and orders so signed, including those drawn to the individual order of any such person or persons signing the same, without further inquiry or regard to the authority of said person or persons or the use of the checks, drafts or orders, or the proceeds thereof; Be It Further Resolved, that each of the foregoing resolutions shall continue in force until express written notice of its rescission or modification has been received by the Bank; but if the authority contained in them should be revoked or terminated by operation of law without such notice, it is resolved and hereby agreed, for the purpose of inducing the Bank to act thereunder, that the Bank shall be saved harmless from any loss suffered or liability incurred by it in so acting after such revocation or termination without such notice. Be It Further Resolved, that the Secretary of this Corporation is authorized and directed to deliver and certify to the Bank a certified copy of this Resolution and that it is in conformity with the Charter and By-Laws of this Corporation together with a signature card setting forth the names and certifying to the signatures of the persons authorized to draw checks.

On motion of Mr. Stone, the foregoing resolution was adopted.

Agreement w i t h Omnifiight Helicopters, Inc., Chicago (26) Negotiations have been undertaken with Omnifiight Helicopters, Inc., a Michigan corporation, to allow Omnifiight to utilize as a heliport a portion of the roof of Parking Structure I I located cast of Halsted and between Polk and Taylor Streets at the Chicago campus. The agreement would become effective upon approval by the Board of Trustees and would continue until June 30, 1985, with an option of two additional years. T h e agreement may be terminated with ninety days notice by cither party. The agreement provides that Omnifiight will pay $800 per month, increased to $2,000 if specified additional space is required. In addition, Omnifiight will pay for insurance, utilities, maintenance, security, and modifications or repairs resulting from heliport operations. Further, Omnifiight will be responsible for obtaining all licenses, certificates, and clearances to operate the heliport. T h e heliport will be available for operations 24 hours per day, seven days per week. Flight patterns will be restricted by the terms of the agreement to noncampus air space. No fuel will be stored at the heliport and no aircraft maintenance may be carried out on the site, except as necessary to allow a helicopter to be removed from the heliport.