Repository: UIHistories Project: Board of Trustees Minutes - 1960 [PAGE 237]

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234

BOARD OF TRUSTEES

[December 17

RESOLUTION DELEGATING SIGNATURES FOR HOUSING REVENUE BONDS CONSTRUCTION F U N D A C C O U N T

Mr. Bissell offered the following resolution:

WHEREAS, the Board of Trustees of the University of Illinois on November 19, I9S8, designated the H a r r i s Trust and Savings Bank, Chicago, as the depositary for the Construction Fund Account for the Housing Revenue Bonds of 1958, Series A and B, which account is entitled "Construction Fund, Housing Construction of 1958," and authorized said Bank to act as investment counsel for the purchase of government securities as temporary investment of said Fund: Therefore, It Is Hereby Resolved by the Board of Trustees of the University of Illinois, a public corporation, that the President of the Board of Trustees be and hereby is authorized to delegate to C. C. DeLong, to R. W . Zimmer, and to R. F. Wood authority to sign his name as President of the Board of Trustees to warrants drawn on the Construction Fund, Housing Construction of 1958 Account, covering vouchers approved in accordance with regulations of the Board. The Secretary of the Board of Trustees be and hereby is authorized to delegate to Maude Archdeacon, to George H . Bargh, and to Everett G. Smith authority to sign his name as Secretary of the Board of Trustees to warrants drawn on the Construction Fund, Housing Construction of 1958, covering vouchers approved in accordance with regulations of the Board. Be It Further Resolved, that the H a r r i s T r u s t and Savings Bank of Chicago, as designated depositary for the Construction Fund, Housing Construction of 1958, be and it (including its correspondent banks) is hereby requested, authorized, and directed to honor checks, drafts, or other orders for the payment of money drawn in this corporation's name, including those drawn to the individual order of any person or persons whose name or names appear thereon as signer or countersigner thereof, when bearing the facsimile signatures of the two following: P a r k Livingston, President, and A. J, Janata, Secretary; and the H a r r i s Trust and Savings Bank of Chicago (including its correspondent banks) shall be entitled to honor and to charge this corporation for all such checks, drafts, or other orders, regardless of by whom or by what means facsimile signature or signatures thereon may have been affixed thereto, if such facsimile signature or signatures duplicate the facsimile specimens duly certified to or filed with the Harris Trust and Savings Bank of Chicago by the Secretary or other officer of this Corporation; and Be It Further Resolved, that H . O. Farber, Comptroller of this Board, is hereby authorized to direct the Harris Trust and Savings Bank to execute orders for the purchase, sale, or exchange of United States Government securities acquired as temporary investment of said Construction Fund, and H . O. Farber is further authorized to delegate to C. C. DeLong and to W. M. Griffith authority to sign his name to such orders. O n m o t i o n of M r . Bissell, t h e f o r e g o i n g r e s o l u t i o n w a s a d o p t e d . RAILROAD SIDING FOR CENTRAL FOOD STORES BUILDING (3) The construction of a new railroad siding from the main line of the Illinois Central Railroad south of Champaign to the campus area west of Oak Street extended and south of Stadium Drive is necessary to provide adequate freight service to the new Central Food Stores Building. This siding will be taken off the present rail line immediately south of Stadium Drive and extend on the east side of the tracks to a lower level west of the new building, a total of approximately 626 feet of track. T h e Director of the Physical Plant and the Vice-President and Comptroller recommend that the Board authorize (1) an agreement with the Illinois Central Railroad Company for the construction of a siding and the payment by the University to the Company of $11,106 for the cost of the same; under this agreement the University will provide for the relocation and adjusting of existing power lines at the expense of the University; and (2) adopt the following resolution: Resolution Be It and It Is Hereby Resolved by this Board of Trustees of the Board of Trustees of the University of Illinois that the Comptroller and Secretary of this public corporation be, and they hereby are authorized, for and on behalf of this public corporation to execute, acknowledge, and deliver a grant of easement and such other documents as may be necessary to convey to Illinois Central Railroad