Repository: UIHistories Project: Board of Trustees Minutes - 1960 [PAGE 410]

EXTRACTED TEXT FROM PAGE:

1959]

UNIVERSITY OF ILLINOIS

4O7

The Senate Coordinating Council has indicated that no other Senate jurisdiction is involved in this question. I concur in this recommendation.

On motion of Mr. Herrick, this recommendation was approved.

CHANGES IN T H E COLLEGE OF NURSING C U R R I C U L U M (9) T h e Urbana Senate recommends adoption of the following changes in the course requirements of the baccalaureate degree in nursing: 1. Substitute Sociology 131, Social Problems, for Sociology 220, Marriage and the Family. 2. Substitute Psychology 326, Motivation and Emotion (5 h o u r s ) , for Psychology 338, Abnormal Psychology (5 h o u r s ) . 3. Reduce the number of hours in Nursing 211 and 208, Introduction to Medical Surgical Nursing, by one quarter hour each; and add two quarter hours in pharmacology. The Senate Coordinating Council has indicated that no other Senate jurisdiction is involved in this question. I concur. O n m o t i o n of M r s . W a t k i n s , t h i s r e c o m m e n d a t i o n w a s a p p r o v e d . APPROPRIATION BY ATHLETIC ASSOCIATION (10) T h e Executive Committee of the Board of Directors of the Athletic Association has approved an assignment of $3,000 from its unassigned surplus funds to purchase a used heavy duty trench hog, needed for laying replacement pipe on the golf course fairways. Confirmation of this is requested. O n m o t i o n of M r . H a r e w o o d , t h i s a c t i o n w a s confirmed. APPROPRIATION TO T H E DEPARTMENT OF ASTRONOMY (11) T h e Department of Astronomy has requested that the appropriation of $11,000 made to it for the construction of a building on the radio telescope site be assigned to the construction of a road and power lines to the site. It was anticipated that funds would be made available by the Office of Naval Research for the construction of one-half mile of road from a county road to the site of the radio telescope and for the construction of some power lines. It has now developed that federal funds for these purposes will not be available. T h e building is still needed, but its construction will have to be deferred because the road and power lines have first priority and funds are not available at this time for both. I concur. O n m o t i o n of M r . C l e m e n t , t h i s r e a s s i g n m e n t of f u n d s w a s a u t h o r ized b y t h e f o l l o w i n g v o t e : A y e , M r . C l e m e n t , M r . H a r e w o o d , M r . Herrick, M r . H u g h e s , M r . J o h n s t o n , M r . P o g u e , M r . Swain, M r s . Watkins, M r . Wilkins, M r . Williamson; no, none; absent, M r . Stratton. F I N A N C I N G O F ASSEMBLY HALL (12) At its meeting on April 14, the Board of Trustees authorized negotiation of a contract for the construction of the Assembly Hall, subject to financing of the same. A part of the financing problem was arranging a loan which would carry approximately a 2 ^ per cent interest rate during the period of construction, so that the total project cost would not exceed $7,750,000. The firm of White, Weld and Company, Chicago, one of the most active firms in University financing, has developed a negotiated financing plan to accomplish the University's objective. This firm proposes to act as agent for the University in placing the bonds at a 2^4 per cent rate during the construction period and a 4$i per cent rate thereafter. T h e bonds would be a single maturity, due in 1984, with provision for required annual redemptions from the sinking fund. T h e effect is the same as a serial maturity issue, but setting it up on a sinking fund basis is an advantage to the insurance companies which will be purchasing the issue. Provision will also be made for refunding the issue after