Repository: UIHistories Project: Board of Trustees Minutes - 1972 [PAGE 30]

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BOARD OF TRUSTEES

[July 22

troller and the Secretary of the Board of Trustees be authorized to execute on behalf of the University an agreement with the University of Illinois Foundation for the construction and financing of this project, together with such leases, subleases, or other legal documents as may be necessary to implement the construction and financing of the project. Submitted herewith is a schedule of bids received, a copy of which is being filed with the Secretary of the Board for record.

On motion of Mr. Grimes, this contract was awarded by the following vote: Aye, Mr. Clement, Mr. Grimes, Mr. Hahn, Mr. Hughes, Mr. Stone, Mr. Swain, Dr. Walker; no, none; absent, Mr. Jones, Governor Ogilvie, Mr. Page, Mr. Steger.

LEASE FOR T H E COLLEGE O F DENTISTRY BUILDING W I T H T H E ILLINOIS BUILDING AUTHORITY (31) T h e Board of Trustees on July 26, 1967, authorized the Comptroller and the Secretary of the Board to execute the necessary documents to permit the Illinois Building Authority to proceed with certain University projects which the Seventyfifth General Assembly of the State of Illinois had declared to be in the public interest. The Illinois Building Authority has now forwarded to the University a form of lease for the College of Dentistry Building at the Medical Center campus and has requested that the Board of Trustees take specific action to approve it on the terms indicated. A copy of the lease form is being filed with the Secretary of the Board for record. Annual Rent Due SepAmount of tember 1, 1970, and on Rental or before September 1, Heretofore 1971, and on or before Paid Under September 1 of each Year Thereafter to Legislative Amount of Interim June 30, 1994 IBA Bond Lease Project Declaration College of Dentistry Building, J441 230 $5 010 000 $728 045 Medical Center J10 234 000 T h e execution of the interim lease and payments made thereunder from appropriations made by the Seventy-fifth General Assembly were authorized by the Board on July 26, 1967. Funds for rental payments under the presently proposed lease are included in the appropriations for Fiscal Year 1971. T h e lease provides for termination in the event such appropriations are 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 leases in substantially the form presented in this meeting and that the following resolution he 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 College of D e n t i s t r y Building from Illinois Building A u t h o r i t y WHEREAS, T h e Board of Trustees of the University of Illinois on July 26, 1967, authorized the Comptroller and Secretary of the Board to execute the necessary documents to permit the Illinois Building Authority to proceed with certain University projects which the Seventy-Fifth 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 Seventy-Fifth General Assembly of the State of Illinois has declared, among others, the following University of Illinois project at the Medical Center campus to be in the public interest: College of Dentistry Building Medical Center Campus $10 234 000 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