Repository: UIHistories Project: Board of Trustees Minutes - 1972 [PAGE 287]

EXTRACTED TEXT FROM PAGE:

1971]

U N I V E R S I T Y OF I L L I N O I S

277

(4) to sign, execute, acknowledge, and deliver any and all other documents and instruments deemed necessary or desirable by said Comptroller and Secretary to accomplish the purposes herein set forth. O n m o t i o n of M r . S w a i n , t h e f o r e g o i n g r e s o l u t i o n w a s a d o p t e d b y the following vote: Aye, M r . Forsyth, M r . Grimes, M r . H a h n , M r . Howard, Mr. Hughes, M r . Neal, Mr. Pogue, Mr. Steger, M r . Swain; no, n o n e ; a b s e n t , D r . B a k a l i s , G o v e r n o r O g i l v i e . LEASE WITH THE ILLINOIS BUILDING AUTHORITY (BURRILL HALL ADDITION, URBANA) (21) The Board of Trustees on December 10, 1970, authorized the Comptroller and the Secretary to execute the necessary documents to permit the Illinois Building Authority to construct the Burrill Hall Building Addition which the Seventy-sixth General Assembly had declared to be in the public interest. The Illinois Building Authority has now forwarded to the University a form of the lease which it requests be used on the project and has requested that the Board of Trustees take specific action to approve it. A copy of the lease form is filed with the Secretary of the Board for record. The lease is for the terms indicated : Annual Rent Due

Amount of Rental Heretofore Paid under Interim Lease Sept. 1, 1971, and on or before Sept. 1. 1972, and on or before Sept. 1 of Each Year Thereafter to Tune 30, 1995

Legislative Declaration Project Burrill Hall Building Addition, Urbana $1 382 750

Amount of IBA Bonding

Amount of Rental Due Mar. 1, 1971

$1 380 000

$62 470

$62 475

$124 685

The execution of the interim lease and payment made thereunder from an appropriation made by the Seventy-sixth General Assembly was authorized by the Board on December 10, 1970. Funds for rental payments under the presently proposed lease for 1971-72 are being requested to be appropriated by the Seventy-sixth General Assembly. The lease provides for termination in the event such appropriation is not made. The President of the University, with the concurrence of appropriate administrative officers, recommends that the Comptroller and the Secretary of the Board of Trustees be given specific authorization to execute the lease in substantially the form requested and that the following resolution be adopted. R e s o l u t i o n A u t h o r i z i n g L e a s i n g of Burrill H a l l Building Addition F r o m Illinois Building A u t h o r i t y WHEREAS, T h e Board of Trustees of the University of Illinois on December 10, 1970, authorized the Comptroller and Secretary of the Board to execute the necessary documents to permit the Illinois Building Authority to proceed with construction of the Burrill Hall Building Addition at the Urbana campus which the Seventysixth General Assembly of the State of Illinois had declared to be in the public interest; and WHEREAS, in accordance with the Illinois Building Authority Act the Seventysixth General Assembly of the State of Illinois has declared, among others, the following University of Illinois project at the Urbana-Champaign campus to be in the public interest: Construct Burrill Hall Building Addition, Urbana $1 382 750 WHEREAS, said declaration also provides that the cost of any specific project could exceed the amount set forth therefor so long as the aggregate amount stated therein to be financed by the Illinois Building Authority for the University is not exceeded; and WHEREAS, the amount designated for said project as follows: Urbana-Champaign campus I B A #76-103 Construct Burrill Hall Building Addition $1 380 000 will not cause said aggregate amount to be exceeded; and