Repository: UIHistories Project: Board of Trustees Minutes - 1940 [PAGE 496]

EXTRACTED TEXT FROM PAGE:

1939]

UNIVERSITY OF ILLINOIS

493

Be it resolved, that if any confirmatory action is required by the Government subsequent to the receipt of the formal offer and prior to the next regular meeting of the Board of Trustees of the University of Illinois, the Executive Committee thereof is hereby authorized and directed to accept said offer and to covenant to abide by all terms and conditions relating to such grant as may be required by the United States of America.

The above resolution was proposed by Mr. Geary, seconded by Mrs. Plumb, and was adopted by the following voting aye: President Mayer, Mr. Adams, Mr. Cleary, Mr. Jensen, Dr. Meyer, Mr. Moschel, Mrs. Plumb, Mr. Pogue, and the following voting nay: none. The President of the Board therefore declared said resolution carried and the Secretary of the Board thereupon signed said resolution in approval thereof.

ADDITIONAL LOAN FOR ILL1NI U N I O N BUILDING (10) On July 21, 1938 (Minutes, page 36), the Executive Committee of the Board of Trustees adopted a resolution requesting the University of Illinois Foundation to apply to the Connecticut Mutual Life Insurance Company for a loan of $550,000 to supplement a grant of $450,000 from the Federal Emergency Administration of Public W o r k s for the construction of the Illini Union Building. When it became evident from the bids received on this construction that the total cost would exceed the $1,000,000 provided by this grant and loan, an application was made for an increased Federal grant, and at the same time the Connecticut Mutual Life Insurance Company was asked if it would consider increasing the amount of its loan on this project. The Federal Emergency Administration of Public W o r k s has approved an increase of $74,820 in the grant, and the Connecticut Mutual Life Insurance Company has authorized an additional loan up to $106,000 for financing the construction of this building. T h e total additional funds thus made available are approximately $30,000 in excess of estimated needs based upon present commitments. The University of Illinois Foundation offers to contract with the Connecticut Mutual Life Insurance Company f o r . a n additional loan of $106,000 for the purpose of completing the construction of the Illini Union Building with a provision in the contract that only as much of the additional loan as is needed will be used. This allows for a reserve if additional funds are needed later. I recommend acceptance of this offer.

On motion of Mr. Moschel, this offer was accepted.

BIDS ON POWER PLANT CONSTRUCTION AND EQUIPMENT ( n ) T h e following bids were received and opened before the Committee on Buildings and Grounds on July 10 on certain construction and equipment for the new power and heating plant and distribution system, including storage battery, concrete stack, transformers and reactors, 600-volt switch gear, water softening equipment, coal handling equipment, ash handling equipment, forced and induced draft fans, and cinder catchers. Contract Lowest Bidder Amount 1. Forced and induced draft fans. . . B . F . Sturtevant Co $14 656 2. Storage battery Gould Storage Battery Co 1 446 3. Transformers and reactors Pennsylvania Transformer Co 16 024 4. Switching equipment Marquette Electric Switchboard C o . . 13 877 5- Water softening equipment Permutit Co 5 536 6. Coal handling equipment Jeffrey Mfg. Co 15 200 7. Cinder catcher Prat-Daniel Corp 9 780 8. Ash handler United Conveyor Corp 21 073 9. Chimney Heine Chimney Co 6 361

Mr. Havens presented this matter and commented on the detail. He recommended that the contracts be awarded to the lowest bidders