Repository: UIHistories Project: Board of Trustees Minutes - 1972 [PAGE 34]

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BOARD OF TRUSTEES

[July 22

on University projects. The Authority may also require; the University to adopt specific resolutions transferring jurisdiction of land to and leasing facilities from the Illinois Building Authority, prior to the Authority entering into construction contracts. Accordingly, the President of the University, with the concurrence of appropriate administrative officers, recommends that, pursuant to Article IV, Section 3, of the By-Laws, the Board of Trustees authorize the Executive Committee of the Board to take action at any time prior to the next regular meeting of the Board on transfers of jurisdiction to and leases from the Illinois Building Authority and any other matter relating to the lease, sale, purchase, or other acquisition, by or for the University, of real estate, including authority to exercise the right of eminent domain and to institute condemnation proceedings.

On motion of Mr. Hahn, authority was given as recommended 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.

RESOLUTION FOR SALE OF STOCK HELD AS TRUSTEE (38) On April 15, 1970, the Board of Trustees authorized the placing of the University's securities into the name of the nominee of the safekeeping agent, The First National Bank of Chicago, one of the safekeeping agents, has been unable to transfer 212 shares of American Telephone and Telegraph Company common stock into the name of its nominee because of the fact that the certificate is in the name of "The Board of Trustees of the University of Illinois, Trustees under the Will of Edward H. Schlader, Deceased." The transfer agent will not accept the present resolution for sale of securities because it does not specifically authorize R. R. Manchester to sell securities held in the name of the Board of Trustees in its fiduciary capacity. Accordingly, the following resolution is presented to effect such transfer (the italicized words are additions to the previous resolution) : Resolved, that the Treasurer of The Board of Trustees of the University of Illinois, a public corporation, is authorized in his discretion to sell, assign, or transfer to any assignee or transferee for or on behalf of this corporation and in its name any and all shares of capital stock or any voting trust certificates representing the right to receive shares of stock or any registered bonds or other securities of any other corporation owned by this corporation in its own right or as trustee, and for the purpose of effecting any such sale or transfer, R. R. Manchester, the Treasurer of this corporation, be and he hereby is authorized to execute in the name of this corporation and on its behalf all assignments which may be necessary, and that Earl W. Porter, Secretary of this corporation, be and he hereby is authorized to attest to the authority of R. R. Manchester, Treasurer, to execute the aforesaid documents. The Treasurer will exercise the authority granted by such resolution only after being notified by the Comptroller of the approval of the Finance Committee for the sale as provided in the established procedure. The Secretary of the Board will attest to the validity of the resolution and the authority of the Treasurer to sign the documents.

On motion of Mr. Swain, the foregoing resolution was adopted.

EXHIBIT, " S C U L P T U R E OF BLACK A F R I C A , " K R A N N E R T A R T M U S E U M , URBANA

(39) The Director of the Krannert Art Museum and Dean of the College of Fine and Applied Arts has proposed that arrangements be made to bring the exhibit "Sculpture of Black Africa" to the Krannert Art Museum for a "double exhibition" period, May 15-July 18, 1971. The exhibit is comprised of significant works from the collection of Paul and Ruth Tishman and is one of the important assemblages of African art in this country. Portions of the exhibit have been shown in Paris, Jerusalem and Los Angeles, and it is now being circulated to a limited number of museums. The exhibit will be of interest to departments such as Anthropology and