Repository: UIHistories Project: Board of Trustees Minutes - 1940 [PAGE 563]

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560

BOARD OF TRUSTEES

[September 30

SCHEDULE C

1. Total cost of program to be financed $183 588 00 2. Deduct: ( a ) Cash to be made available through sale of property to Cook County 75 744 97 ( b ) Labor and material from W . P . A 55 959 00 Total funds needed $ 51 884 03 3. Proposed basis of liquidating indebtedness: ( a ) Assess students $2.00 per semester 4 800 00 (b) Faculty subscription 400 00 4. Assumptions: ( a ) That University will continue to pay building operation and nance expense. (b) That food service will pay all salaries, wages, expense of directly consumed, including reserve charge for repairs and ments to equipment.

per year per year mainteutilities replace-

It should be noted that the financing plan contemplates the assessment of a fee on all students at $2.00 a semester for the use of the Student Center, or Union Building, and if the program is approved this fee should be authorized.

Mr. Havens presented this matter. During the discussion, President Mayer, being called from the room, asked Mr. Moschel to preside. On motion of Mrs. Plumb, this program was authorized and approved with the understanding that the details of Section B are subject to further study, and the assessment of a fee was authorized as recommended. In furtherance of this program, Mrs. Plumb offered the following resolutions and moved their adoption. The resolutions were adopted forthwith by the following vote: Aye, Mr. Cleary, Mr. Jensen, Mr. Karraker, Dr. Meyer, Mr. Moschel, Mrs. Plumb, Mr. Pogue; no, none; absent, Mr. Adams, Mr. Horner, Mr. Mayer, Mr. Wieland.

RESOLUTION Whereas, the University of Illinois Foundation has under date of September 21, 1939, made a proposal (stated above) for providing a student center for the students in the colleges in Chicago; and Whereas, this project seems practicable and desirable for the University; therefore be it Resolved, that the Board of Trustees of the University of Illinois hereby accepts and agrees to the proposal of the University of Illinois Foundation stated above under date of September 21, 1939, the details of the procedure and the contract documents to be prepared and approved by the University Counsel. RESOLUTION Whereas, the Board of Trustees of the University of Illinois is setting up a trust pursuant to the powers vested in it by law for the purpose of remodeling certain properties in Cook County, commonly known as the New Pharmacy Unit, and as an integral part of such trust plan is contracting with the University of Illinois Foundation, a non-profit corporation of the State of Illinois, to remodel and reconstruct this property; and Whereas, in order to set up such trust and carry out the policy of remodeling the New Pharmacy Unit and converting it into a Student Center, it is necessary that certain parcels of land hereinafter described be conveyed to the University of Illinois Foundation aforesaid, which parcels are described as follows: