Caption: Board of Trustees Minutes - 1940
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782 BOARD OF TRUSTEES [ M a r c h 14 made on the basis of the A A A rating and the age and experience of the company, and in order to secure diversification. O n motion of M r . Moschel, this award was made as recommended. INSURANCE ON NOYES LABORATORY OF CHEMISTRY M r . Moschel, also for the Finance Committee, presented a recommendation that $90,400 fire insurance for a term of five years, on the Noyes Laboratory of Chemistry and contents, be placed with the H a r d w a r e Dealers Mutual F i r e Insurance Company, the lowest bidder, on the basis of their bid of $895.97 with a potential dividend of 40 per cent at the termination of the policy. O n motion of Mr. Moschel, this a w a r d was made as recommended. MATTERS PRESENTED BY PRESIDENT WILLARD A t this point, the Board resumed consideration of matters presented by the President of the University. AWARD OF CONTRACTS FOR POWER AND HEATING PLANT INSTALLATIONS (17) The following schedule of bids received on installations of piping, electrical work, and flues and ducts in the new Power and Heating Plant and Distribution System: BID SCHEDULE—POWER AND HEATING PLANT INSTALLATION OF ELECTRICAL WORK—DIVISION "A-A" Price for the Price for Furnishing Price for Furnishing Work Complete. and Installing and Installing Tele- Total Price Items A-K, Lighting phone Conduit and Items A-M, Bidder inclusive Item L Wire, Item M inclusive Dearborn Electric Co #22 025 $6 630 $ 75 #28 730 Divane Bros 18 643 5 836 124 24 603 Hoffman Electric Company 16 796 6 184 190 23 170 E. A. Koeneman Electric Co 25 200 6 896 17s 32 271 A. S. Schulman Electric Co 17 000 ; 830 54 22 884 Wadeford Electric Company 17 155 5 700 120 22 975 FLUES AND DUCTS—DIVISION Price for the "C-C" Price for Unloading and Bidder Henry Pratt Co Alpha Tank & Sheet Metal Mfg. Co Terre Haute Boiler Works Connery Construction Co Duct Work Complete Item 1 $29 310 38 200 27 551 38 000 Erection of Miscelianeous Equipment Item 2 J 2 925 7250 3 195 12 000 Total Price Items 1 and 2 $32 235 45 450 30 746 50 000 O n motion of Mr. Cleary, the contract for electrical work was a w a r d e d to the Schulman Electric Company, the lowest bidder, on the basis of their bid of $22,884 '•> a n d r o r flues and ducts to the T e r r e H a u t e Boiler W o r k s , the lowest bidder, on the basis of their bid of $30,746. ALLOCATION OF FUNDS FOR CONSTRUCTION OF 1LLINI U N I O N BUILDING (18) The Director of the Physical Plant Department requests approval of the reallocation of funds for the construction of the Mini Union Building. The P.W.A. budget for this project has heretofore not included the maximum amount of the loan authorized by the Connecticut Mutual Life Insurance Company. The amount of this loan was increased from the original figure of $621450 to $656,000, with the option of using only as much of the additional amount as is necessary. It is apparent that the full amount of the authorized loan will be needed. It is necessary to submit to the Federal Works
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