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Caption: Board of Trustees Minutes - 1960
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1046 BOARD OF TRUSTEES [October 21 ing and Heating Company be authorized to do this work on the basis of a change order in the standing contract with that Company. On motion of Mrs. Watkins, this recommendation was approved by the following vote: Aye, Mr. Johnston, Mrs. Watkins, Mr. Williamson; no, none; absent, none. Sale of Bonds for Peabody Drive Residence Halls Bids were received at 11:00 a.m., September 29, 1959, for the sale of The Board of Trustees of the University of Illinois Housing Revenue Bonds of 1959, Series C and D, to finance construction of the Peabody Drive Residence Halls. Four bids were received from private companies for $3,450,000 Series C bonds as follows: __ . Effective Total Interest Interest Company Price Interest Rates Rate Cost F . S. Smithers & Co. $3 400 000 00 4 ^ , 4^, 4 ^ 4-5244 ?4 114 037 50 and Associates B l y t h & C o . and 340023582 5,4^,4^,4.6 4.5829 4 167 219 18 Associates 6 John Nuveen & Co. 3 400 979 70 5, 4 K . 4 K . 44-5995 4 182 325 30 and Associates White, Weld, & Co. 3 400 000 00 5, 4.4, 4.5 4.6017 4 184 344 33 and Associates No bids were received for the Series D bonds. However, the Housing and Home Finance Agency has issued a letter of intent to execute a Loan Agreement, wherein the federal government will agree to purchase $3,450,000 Series D bonds at par and accrued interest at an interest rate of 3I/i%The Vice-President and Comptroller recommended that: 1. The Comptroller and Secretary of the Board be authorized to execute a Loan Agreement with the Housing and Home Finance Agency, provided the provisions of the Loan Agreement are acceptable to the Comptroller. 2. The Series C bonds in the amount of $3,450,000 be sold to F. S. Smithers and Company and Associates at a price of $3,400,000 plus accrued interest and at an effective interest rate of 4.5244 per cent, which represents the lowest interest cost to the University. 3. The Series D bonds in the amount of $3,450,000 be sold to the Housing and Home Finance Agency at an interest cost of zVt per cent in accordance with and pursuant to the above mentioned Loan Agreement. On motion of Mr. Johnston, these recommendations were approved by the following vote: Aye, Mr. Johnston, Mrs. Watkins, Mr. Williamson; no, none; absent, none. There being no further business before the Committee, on motion of Mr. Johnston, the Executive Committee adjourned. A. J JANATA W A Y N E A. JOHNSTON FRANCES B. W A T K I N S K E N N E Y E. WILLIAMSON Clerk DEGREES CONFERRED Chairman The Secretary presented for record the following lists of degrees conferred at Urbana on October 15, 1959. Summary Degrees in the Graduate College: Doctor of Philosophy Doctor of Education Doctor of the Science of Law Master of Arts Master of Science Master of Music Master of Education Master of Accounting Science Total, Graduate College n 6 9 ' '•? 4/ * , a\ ( ^ '
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