Caption: Board of Trustees Minutes - 1960
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582 BOARD O F T R U S T E E S Department All Urbana departments Physical Plant Vendor Wat land. Incorporated, Chicago Randolph Paper Co., Chicago [July 21 Cost 2 n 386 91 f.o.b. destination 25 584 32 Item Miscellaneous Kodak photographic films and papers as required by various departments during the period July i. 1959, through June 30, i960 Toilet tissue and paper towel requirements for Urbana and Chicago departments for the period August 1, 1959, through June 30, i960; estimated quantities: 3,520 cases paper towels; 1,525 cases toilet tissue Seven trainer airplanes, two-place, less trade-in of seven Aeronca airplanes Nine sedans, four-door One station wagon, four-door One pick-up truck, M ton capacity One truck, platform-stake, dumping, 1 }£ ton capacity f.oV delivered Institute of Aviation Physical Plant and Physics Champion Aircraft Corp., Osceola, Wis. University Ford Sales, Champaign Eight sedans, one station wagon Lawder Bros., Inc., Chicago (Ford) One sedan, one station wagon Courtesy Motor Sales, Chicago (Ford) One pick-up truck International Harvester Co., Springfield One truck, 1 # ton 35 W4 69 f.o b. Osceola, Wis. 5 169 76 1 258 04 263 00 3 2 2 2 94 (net costs) All prices include delivery On motion of Mr. Swain, these purchases were authorized. REPORTS OF COMMITTEES The Board proceeded to consider the following reports and recommendations from its standing committees. INVESTMENT O F ASSEMBLY HALL INTEREST RESERVE ACCOUNT Mr. Swain, for the Finance Committee, presented the following: The Assembly Hall Revenue Bond Resolution, approved June 23, provides that funds in the Interest Reserve Account may be invested in United States Government securities maturing not more than three years from the date of purchase. Through oversight, authority to make these investments was not given to the Comptroller. The proceeds from the sale of bonds were received on July 16 and the applicable portion was deposited in the Interest Reserve Fund. In order not to lose interest, the Comptroller invested these funds and confirmation of this action is requested. T h e Finance Committee also recommends that authority be granted to the Vice-President and Comptroller to purchase and sell United States Government securities with maturities not more than three years after the date of purchase, as investments of the Interest Reserve Account of the Assembly Hall Revenue Bond Fund, and that the Sears Bank and Trust Company, the depositary of this fund, be authorized to accept orders of the Vice-President and Comptroller to purchase and sell such securities. On motion of Mr. Swain, this recommendation was approved. INVESTMENTS Mr. Swain, for the Finance Committee, presented the following report of changes in investments of trust funds for the period from March 12 through June 30, 1959: URBANA-CHAMPAIGN Sale 2 shares Exchange $ 10 10 4 4 000 000 000 000 Endowment Funds — General Standard Oil Company of New Jersey U.S. U.S. U.S. U.S. Treasury Treasury Treasury Treasury Certificates Notes Certificates Certificates 2 ^ per cent 4 per cent I yi per cent 4 per cent 2 / 1 4 / 5 9 for 2/15/62 5 / 1 5 / 5 9 for 5/15/60 $ 105 9°
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