Repository: UIHistories Project: Board of Trustees Minutes - 1972 [PAGE 291]

EXTRACTED TEXT FROM PAGE:

1971]

UNIVERSITY OF ILLINOIS

281

extent that this public Corporation has the present right and capacity to grant the same. The right-of-way easement shall be over the following-described property: Situated in the State of Illinois, the County of Champaign and being a part of Sections Twenty-nine (29) and Thirty(30), Township 19 North (T 19 N ) , Range Nine East (R 9 E ) of the Third Principal Meridian (3 P M ) and being more fully described as follows: T h e South Fifteen Feet (S IS') of the North Sixty-five Feet (N 65') of (a) the North Half (N V2) of the Northwest Quarter ( N W 1,4) of said Section Thirty (30); (b) the Northwest Quarter ( N W Vi) of the Northeast Quarter ( N E 14) of said Section Thirty (30); (c) the East Half ( E 1/2) of the Northeast Quarter ( N E VA) of Section Thirty (30); and (d) the North Half (N V5) of the Northwest Quarter ( N W 14) of said Section Twenty-nine (29); said parcel containing 2.80 acres, more or less. Be It Further Resolved that said Comptroller and Secretary be, and they hereby are, authorized to execute, acknowledge, and deliver to Grantee a grant of a temporary easement over the following described property to be utilized during the construction period and which temporary easement shall terminate upon the completion of the construction and installation of the water main under the property hereinabove described, viz: Situated in the State of Illinois, the County of Champaign and being a part of Sections Twenty-nine (29) and Thirty (30), Township 19 North (T 19 N ) , Range Nine East (R 9 E ) of the Third Principal Meridian (3 P M ) and being more fully described as follows: The North One Hundred Feet (N IOC) of (a) the North Half (N 1/2) of the Northwest Quarter ( N W VA) of said Section Thirty (30); (b) the Northwest Quarter ( N W \i) of the Northeast Quarter ( N E V4) of said Section Thirty (30); (c) the East Half ( E V2) of the Northeast Quarter ( N E i/i) of Section Thirty (30); and (d) the North Half (N y2) of the Northwest Quarter ( N W >4) of said Section Twenty-nine (29). 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 . F o r s y t h , M r . Grimes, M r . H a h n , M r . H o w a r d , M r . Hughes, M r . Neal, M r . Pogue, M r . Steger, Mr. Swain; no, none; absent, Dr. Bakalis, Governor Ogilvie. INTRAMURAL-PHYSICAL EDUCATION BUILDING REVENUE BONDS AUTHORIZATION, URBANA (26) The Board of Trustees at its meeting of July 24, 1968, recommended that the Illinois Building Authority be relieved of the responsibility for financing and constructing the Intramural-Physical Education Building and that the University of Illinois Foundation be requested to finance and construct the Intramural-Physical Education Building and lease it to the University at a rental in an amount sufficient to liquidate the debt service payments. T h e Foundation obtained a loan, which becomes due July 1, 1971, for financing the construction of the building. The University was to explore the feasibility of financing the project through revenue bonds. The President of the University, with the concurrence of the appropriate administrative officers, recommends that the Vice President and Comptroller be authorized to advertise for bids on $9,100,000 of Intramural-Physical Education Building Bonds and to appoint the law firm of Chapman and Cutler to act as bond counsel in connection with the issuance of bonds. The proceeds of the bonds will be used to acquire the building from the Foundation and complete the construction, whereupon the lease to the Foundation will be terminated. O n m o t i o n of M r . S w a i n , t h i s r e c o m m e n d a t i o n w a s a p p r o v e d b y the following vote: Aye, M r . Forsyth, M r . Grimes, M r . H a h n , M r . H o w a r d , Mr. Hughes, Mr. Neal, Mr. Pogue, M r . Steger, Mr. Swain; no, n o n e ; absent, D r . Bakalis, G o v e r n o r Ogilvie. PURCHASES (27) T h e President submitted, with his concurrence, a list of purchases recom-