Repository: UIHistories Project: Board of Trustees Minutes - 1974 [PAGE 473]

EXTRACTED TEXT FROM PAGE:

1974]

UNIVERSITY OF ILLINOIS

463

Plant Funds D-M-P Building Bonds of 1951 (Medical Center) Purchase: $205 000 U.S. Treasury bills due 3/21/74 Executive Development Center Building Purchase: $3 000 U.S.Treasury5^percentnotesdue8/15/74 Krannert Contributions Purchase: $60 000 Citizensand Southern Holding demand notes Sinking Funds Bonds of 1964 (Medical Center) Purchases: $90 000 U.S. Treasury SJ/8 per cent bondsdue 11/15/73 2S 000 U.S. Treasury bills due 5/7/74 70 000 U.S. Treasury billsdue 11/19/74 Housing Revenue Bonds Sale: $10 000 U.S.Treasury5'/& per cent bonds due 2/1S/74 Purchases: $43 000 U.S.TreasuryS?£percentnotesdue2/15/7S 73 000 U.S. Treasury 6}4 per cent notes due 2/1S/76 Illini Union and Health Center Purchase: $10 000 U.S. Treasury bills due 9/24/74 Men's Residence Halls Revenue Bonds of 1957 Purchase; $10 000 U.S. Treasury 8?i per cent notes due 9/30/75 Revenue Bonds of 1956 Purchase: $3 000 U.S. Treasury 6 per cent notes due 9/30/74 Student Services Building Purchase: $17 000 U.S. Treasury 6H per cent notes due 2/15/76 Women's Residence Halls Revenue Bonds of 1956 Purchase: $5 000 U.S.Treasury6percentnotesdue9/30/74

Per Cent 7.84 $ 197 469 67 6.42 8.88 Per Cent 4.44 6.97 8.06 2 977 50 60 000 00

89 859 38 24 085 42 64 727 06

9 885 00 7.18 6.89 42 166 88 71 996 25

7.90 7.17 6.83

9 368 94 10 211 25 2 976 56

6.88 7.05

16 930 05 4 950 94

This report was received for record.

LITIGATION RELATING TO KRANNERT CENTER FOR THE PERFORMING ARTS, URBANA (26) Phase I of the Krannert Center for the Performing Arts at the Urbana campus was constructed under a contract awarded by the University of Illinois and Phase II was constructed under a contract awarded by the University of Illinois Foundation. Architectural services were provided under a contract awarded by the University of Illinois. The complex is occupied by the University under a lease arrangement with the Foundation. Certain problems relating to plaza surfaces and subsurfaces, drainage, flashings, roofs, fascia, and other areas have been experienced at Krannert Center for the Performing Arts complex. Investigation indicates that these may be related to design or construction deficiencies, or both. The prime contractor and the architect have declined to bear the expense of satisfactory correction and resolution of the defects. _ The University of Illinois Foundation has authorized the initiation of litiga-