Repository: UIHistories Project: Board of Trustees Minutes - 1960 [PAGE 355]

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352

BOARD O F T R U S T E E S

[March 12

the completion of the first unit (to house approximately 500 men) is now scheduled for September, i960. An application for $3,750,000 has been submitted to the Housing and Home Finance Agency. The Director of the Physical Plant and the Vice-President and Comptroller recommend that: 1. T h e filing with the Housing and Home Finance Agency be confirmed; 2. T h e firm of Chapman and Cutler of Chicago be employed as counsel for the bond issue; 3. T h e Vice-President and Comptroller and the Director of the Physical Plant be authorized to secure bids for the construction and to advertise a sale of the bonds at such time as is feasible and appropriate; and 4. Such other steps as are necessary in connection with the bond issue and sale of bonds be authorized. I concur. O n m o t i o n of M r . S w a i n , t h e s e r e c o m m e n d a t i o n s w e r e a p p r o v e d . RESOLUTION DELEGATING SIGNATURES FOR HOUSING REVENUE BONDS CONSTRUCTION F U N D A C C O U N T (12) T h e Vice-President and Comptroller requested the adoption of the following resolution: WHEREAS, The Board of Trustees of the University of Illinois on November 19, 1958, 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 T h e 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, T h a t the Harris Trust 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: Kenney E. Williamson, President, and A. J. Janata, Secretary; and the Harris 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 H a r r i s 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 H a r r i s 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 . C l e m e n t , 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 .