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Caption: Board of Trustees Minutes - 1972
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232 BOARD OF TRUSTEES [March 17 checks, drafts, or other orders for the payment of money drawn in this corporation's name, including those drawn to the individual order of any person or persons whose name or names appear thereon as signer or signers thereof, when bearing or purporting to bear the facsimile signatures of the two following: President and Secretary; and the First National Bank of Chicago (including its correspondent banks) shall be entitled to honor and to charge this corporation for all such checks, drafts, or other orders, regardless of by whom or by what means the facsimile signature or signatures thereon may have been affixed thereto, if such facsimile signature or signatures resemble the facsimile specimens duly certified to or filed with the First National Bank of Chicago by the Secretary or other officer of this corporation. And be it further Resolved, that the Auditor of Public Accounts is hereby authorized and directed to honor vouchers bearing facsimile signatures of the President and Secretary of The Board of Trustees of the University of Illinois if such facsimile signatures resemble the facsimile specimens duly certified to or filed with the Auditor of Public Accounts by the Secretary. This resolution w a s unanimously adopted. STANDING COMMITTEE APPOINTMENTS M r . H u g h e s announced that he w a s prepared to make appointments to certain committees of the Board, those with business to transact at this meeting. H e announced the following appointments. General Policy Committee Student Welfare and Activities Committee MR. SWAIN, Chairman MR. MR. MR. MR. GRIMES HAHN NEAL POGUE MR. HAHN, Chairman MR. MR. MR. MR. GRIMES HOWARD NEAL STECER Buildings and Grounds Committee MR. GRIMES, Chairman MR. MR. MR. MR. FORSYTH HOWARD POGUE SWAIN Finance Committee MR. STECER, Chairman MR. FORSYTH MR. SWAIN INSTALLATION OF NEW TRUSTEES President H u g h e s indicated that for some time he had felt the need for an appropriate form of recognition at t h e time new Trustees assume their seats at the beginning of their term. H e asked M r . Forsyth, M r . H o w a r d , and M r . Neal to rise ( a s well as M r . Pogue, w h o had taken his seat in December) a n d then read the following installation statement: The statutes of the State of Illinois which created the University in 1867 speak in terms of the powers of the Trustees: to establish and provide for the educational program; to hold and convey property; to make and establish by-laws; to provide the requisite buildings, apparatus, and conveniences; to appoint professors and instructors; to accept endowments from any person or corporation. The University of Illinois Statutes, promulgated by this Board to implement and define the authority granted by the state, in addition to recognizing these and related powers, emphasize the responsibility of the Board to secure the needed revenues for the University and to determine the ways in which the University funds shall be applied. While affirming the jurisdiction of the Trustees generally over University affairs, the Statutes make clear the distinction between the formulation of policy by the Board and the execution of those policies by the President, other officers, and other bodies of the University under authority delegated by the Board. Beyond these specifications, however, are certain intangible factors which arise from the traditions of this Board as a popularly-elected board of laymen.
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