Repository: UIHistories Project: Board of Trustees Minutes - 1940 [PAGE 684]

EXTRACTED TEXT FROM PAGE:

I939]

UNIVERSITY OF ILLINOIS

68l

of 101.28. T h e T r u s t Department of the First National Bank of Chicago, which acts as our investment ^counsel, has recommended the sale of these bonds in the current market. T h e recommendation is based on underlying conditions relating to this issue and on the present high market. In view of this recommendation, the Committee, acting under the emergency provision of the By-Laws, authorized the Comptroller to place these bonds on the market, and the sale has been completed at a price to net 102^6.

INVESTMENTS RECOMMENDED

The Finance Committee recommends that the following purchases of securities be authorized as investments of endowment funds to cover present needs of about $17,000 and other needs as they may arise: For group investments: $10,000 Central Illinois Light Co. 1st, 3j4%, 1966, at about l o o ^ . $10,000 Commonwealth Edison Co. 1st, 3^4%, 1968, at about 109. For Kinley fund: $5,000 Pacific Gas & Electric Co. 1st and Refunding, 4 % , 1964, at about 112.

On motion of Mr. Pogue, these investments were authorized as recommended. At this point, President Mayer returned and resumed the chair.

USE OF ILLINI UNION BUILDING M r . K a r r a k e r , f o r t h e C o m m i t t e e o n Affiliated S t u d e n t A c t i v i t i e s , p r e sented the following r e p o r t : In view of service features in the Illini Union Building such as the Athletic Association Ticket Sales, Star Course Ticket Sales, Ticket Sales for All-University Functions, Information Desk, and the Alumni Association Office, it is recognized that the public must have access to the parts of the building where such services are offered. T h e use of the balance of the building shall be limited as described hereafter. 1. All graduate and undergraduate students registered in the Urbana Departments will be assessed the semester service charge, excepting the following: ( a ) Teachers employed in the public schools of the State of Illinois and in other colleges and universities when students. ( b ) Extra-mural students. ( c ) Correspondence students. ( d ) Graduate students on University staff. See item 7 ( a ) ( 1 ) . ( e ) Cooperating teachers in the local schools (would not apply in Summer Session). ( f ) Visitors. ( g ) Students taking not more than one unit of graduate work or more than five hours of undergraduate work. 2. N o person ^connected with the University, allied surveys or laboratories, cillier student or staff member, may use the building without the payment of the service charge except incidental usage as provided in item 6. 3. All alumni and former students, except those on the University staff, allied surveys and laboratories, may use the building without payment of the service charge. 4. Summer Session students shall be assessed one-half the full semester service charge. ( a ) All exemptions offered during the school year shall be in effect during the Summer Session except as provided under item 1 ( a ) and ( e ) . ( b ) T h e semester service charge paid by a student during the school year shall entitle him to the privileges of the building during that semester only.