Repository: UIHistories Project: Board of Trustees Minutes - 1974 [PAGE 127]

EXTRACTED TEXT FROM PAGE:

1972]

UNIVERSITY OF ILLINOIS

117

Funds deposited in the above-mentioned banks will be transferred to the American National Bank and Trust Co. of Rockford, The accumulated funds in the American National Bank and Trust Co. of Rockford will be transferred periodically to the University account at The First National Bank of Chicago. I concur and recommend the adoption of the following resolutions. I, the undersigned, Do Hereby Certify, that the following is a complete, true, and correct copy of certain resolutions of The Board of Trustees of the University of Illinois, a public corporation duly organized and existing under the laws of the State of Illinois, hereinafter called "University," which resolutions were duly adopted at a duly called meeting of the said Board, held on November 17, 1972, a quorum being present, and are set forth in the minutes of the said meeting; that I am the keeper of the corporate seal and of the minutes and records of the University; and that the said resolutions have not been rescinded or modified: Be It Resolved, that The State Bank of Kirkland, Illinois (hereinafter sometimes referred to as the "Bank") be and hereby is designated a depositary in which the funds of the University may be deposited by its officers, agents, and employees, and that such officers, agents, and employees shall be and each of them hereby is authorized to indorse for deposit or negotiation any and all checks, drafts, notes, bills of exchange, and orders for the payment of money, either belonging to or coming Into possession of the University. Indorsements for deposit may be by the written or stamped indorsement of the University without designation of the person making the indorsement; Be It Further Resolved, that the funds deposited to the credit of the University may be withdrawn only by bank transfer to a designated depositary of the University upon order or direction of either the Director of Business Affairs of the Medical Center campus or the Vice President for Financial Affairs of the University. Be It Further Resolved, that each of the foregoing resolutions shall continue in force until express written notice of its rescission or modification has been received by the Bank, but if the authority contained in them should be revoked or terminated by operation of law without such notice, it is resolved and hereby agreed for the purpose of_ inducing the Bank to act thereunder that the Bank shall upon its request, be insured against any loss suffered or liability incurred by it in so acting after such revocation or termination without such notice. / further Certify that the following named persons are the officers of the University, duly qualified and now acting as such : President: Earl M. Hughes Secretary: Earl W. Porter Treasurer: Robert R. Manchester Comptroller: Herbert O. Farber In Witness Whereof, I have hereunto subscribed my name and affixed the seal of the University, this „ day of , A.D. 19. , Secretary I, the undersigned, Do Hereby Certify, that the following is a complete, true, and correct copy of certain resolutions of the Board of Trustees of the University of Illinois, a public corporation duly organized and existing under the laws of the State of Illinois, hereinafter called "University," which resolutions were duly adopted at a duly called meeting of the said Board, held on November 17, 1972, a quorum being present, and are set forth in the minutes of the said meeting; that I am the keeper of the corporate seal and of the minutes and records of the University; and that the said resolutions have not been rescinded or modified ; Be It Resolved, that Boone State Bank, Belvidere, Illinois (hereinafter sometimes referred to as the "Bank") be and hereby is designated a depositary in which the funds of the University may be deposited by its officers, agents, and employees, and that such officers, agents, and employees shall be and each of them hereby is authorized to indorse for deposit or negotiation any and all checks, drafts, notes, bills of exchange, and orders for the payment of money,