Repository: UIHistories Project: Board of Trustees Minutes - 1940 [PAGE 654]

EXTRACTED TEXT FROM PAGE:

19391

UNIVERSITY OF ILLINOIS

651

On motion of Mr. Moschel, this appropriation was made as recommended, by the following vote: Aye, Mr. Cleary, Mr. Jensen, Mr. Mayer, Dr. Meyer, Mr. Moschel, Mr. Pogue, Mr. Wieland; no, none; absent, Mr. Adams, Mr. Horner, Mr. Karraker, Mrs. Plumb. At this point, Mrs. Plumb took her place with the Board.

APPROPRIATION FOR RESIDENCE HAUL PLANS (2) T h e estimated cost for the preparation of plans and specifications for a men's residence hall up to the point of letting contracts is $15,000, after which funds will become available through the loan which will be made for this project by the Connecticut Mutual Life Insurance Company. T h e Director of the Physical Plant Department therefore recommends that an appropriation of $15,000 be made from the General Reserve Fund for the drawing of plans and specifications. It is the understanding that this fund will be reimbursed from funds to be borrowed from the insurance company.

On motion of Dr. Meyer, this appropriation was made as recommended, by the following vote: Aye, Mr. Cleary, Mr. Jensen, Mr. Mayer, Dr. Meyer, Mr. Moschel, Mrs. Plumb, Mr. Pogue; no, none; absent, Mr. Adams, Mr. Horner, Mr. Karraker, Mr. Wieland.

CENTRAL MAIL SERVICE IN CHICAGO DEPARTMENTS (3) A recommendation that an appropriation of $1,250 be made to the Physical Plant Department for the establishment of a centralized mail service in the Chicago Departments. Such a service is greatly needed and would correspond to the service which has been provided in the Urbana Departments for many years. This will be a permanent addition to the budget.

On motion of Mr. Moschel, this appropriation was made as recommended, by the following vote: Aye, Mr. Cleary, Mr. Jensen, Mr. Mayer, Dr. Meyer, Mr. Moschel, Mrs. Plumb, Mr. Pogue, Mr. Wieland; no, none; absent, Mr. Adams, Mr. Horner, Mr. Karraker.

ADJUSTMENT IN BUDGET OF THE ATHLETIC ASSOCIATION (4) T h e Board of Directors of the Athletic Association have authorized an assignment of funds for the purchase of an electric scoreboard for basketball games. It is estimated that this will cost $650. This adjustment in the budget of the Association has been approved.

On motion of Mr. Jensen, this adjustment was approved.

PURCHASE OF UNIVERSITY OF CHICAGO PROPERTY (5) For the past two or three years the University of Illinois has leased from the University of Chicago the vacant property at the southwest corner of Lincoln (Wolcott) and Polk Streets across from the Medical and Dental College Laboratories Building, with an option to purchase this property for $40,000. This option expired October 31, 1939. Prior thereto, the University of Chicago had entered into a contract with Nicholas and Gust Maggos of Chicago for the purchase by the latter of this property for $35,000 in the event the University did not exercise its option. Thus, while the University had a prior claim on the purchase of this property, to exercise its rights would have cost $5,000 more than the price at which the property was offered to an alternate buyer. In order to take advantage of this difference in price, the Comptroller and Secretary of the Board were authorized to execute a contract with Maggos Brothers whereby the University purchased from them for a consideration of $600 their contract with the University of Chicago. T h u s the University will purchase this property for $35,600, a saving of $4,400 below the price it would have paid under its own option.

This report was received for record.