Repository: UIHistories Project: Board of Trustees Minutes - 1972 [PAGE 155]

EXTRACTED TEXT FROM PAGE:

1970]

UNIVERSITY OF ILLINOIS

145

$13,487, an amount equivalent to 100 per cent of the cost to Lucas-Milhaupt, Inc., of the work of this Agreement. One such grant will cover all of the patents resulting from the work of this Agreement. "If Lucas-Milhaupt does not exercise its option for exclusivity, it will have royalty-free non-exclusive use of the invention." The head of the Ceramic Engineering Department states that in his opinion any patentable invention oil the low melting brazing glasses would have very limited marketability. The Vice President and Comptroller recommends that an exception be made to the established University policy and that this contract be accepted. I concur. O n motion of Mr. Swain, this recommendation was approved. CHICAGO CIRCLE UNION BONDS. SERIES 1 9 7 0 (14) Bids were received at 11:00 a.m. on December 10 for the sale of $2,800,000, of the Board of Trustees Chicago Circle Union Bonds, Series 1970, to finance the construction of a parking structure for the Chicago Circle campus. The Vice-President and Comptroller recommends that the bonds be sold to John Nuveen and Co. at a price of $2,800,000 plus accrued interest from October 1, 1970, and at an effective interest rate of 6.6489 per cent, which represents the lowest cost to the University. A tabulation of the bids received is being filed with the Secretary of the Board for record. The Vice-President and Comptroller also presents and recommends adoption of the First Supplemental Resolution,1 supplementing the resolution approved June 19, 1963, and creating $2,800,000 Chicago Circle Union Bonds, Series 1970. He further recommends that the Board: (1) authorize the execution of the bonds by Earl W. Porter, Secretary of the Board, by facsimile signature of the President of the Board, and by the facsimile signatures of Timothy W. Swain and Howard W. Clement, members of the Board; and (2) ratify and confirm all actions taken or to be taken by the officers and members of the Board in connection with the sale and delivery of the Bonds to the purchasers indicated above. I concur. O n motion of Mr. Clement, these recommendations were approved and the resolution was adopted by the following vote: Aye, Mr. Clement, Mr. H a h n , M r . H u g h e s , M r . Jones, Mr. Pogue, M r . Swain, D r . W a l k e r ; no, n o n e ; absent, Mr. Grimes, Governor Ogilvie, M r . Page, M r . Steger.

AWARD OF CONTRACTS FOR PARKING STRUCTURE, CHICAGO CIRCLE

(15) The President of the University, with the concurrence of appropriate administrative officers, recommends award of the following contracts for the construction of a parking structure at the Chicago Circle campus, the awards being to the lowest acceptable bidders on their base bids: General Construction — May fair Construction Company, Chicago $ 2 024 800 Electrical Work — Midwest Interstate Electrical , Construction Company, Chicago 134 863 Plumbing Work —Frank Saville Plumbing, Inc., Park Ridge 32 300 Total $ 2 191 963 It is also recommended that an agreement be executed with the Mayfair Construction Company, Chicago, for the assignment to this company of contracts for the electrical and plumbing work at a fee of $5,000, which is the amount bid by that company for a service charge for supervision of these contracts. This will make the total contract with the Mayfair Construction Company $2,196,963. The plans and specifications of this project comply with the requirements of the Facilities for the Handicapped Act.

1

A copy is filed with the Secretary of the Board for record.