Repository: UIHistories Project: Board of Trustees Minutes - 1972 [PAGE 589]

EXTRACTED TEXT FROM PAGE:

1972]

UNIVERSITY OF ILLINOIS

579

cassettes of the programs in a manner whereby said programs are seen and heard by direct optical motion picture projection." The agreement would be for a two-year period unless terminated earlier by mutual agreement. Provision would be included for the automatic renewal of the agreement unless prior notice were given within 120 days of the expiration date. Royalty payments would be made by the Corporation to the University at the rate of fifteen per cent of all revenues derived by the Corporation from the sale or leasing of the videocassettes. It is proposed that the question of the internal distribution or allocation to authors of royalty income received under this agreement be referred to the University Committee on Copyrights and Recordings for review and recommendation. Hence, the disposition of royalty income would be exempted from the Board's earlier action (May 21, 1969) under which the first $5,000 of such income is assigned to the author or authors of the material. The Executive Vice President and Provost and the Vice President and Comptroller recommend that the Board authorize the negotiation of an agreement under these terms, subject to the usual review by the University Counsel. I concur.

On motion of Mr. Swain, this recommendation was approved.

REVISIONS TO LEASES WITH THE ILLINOIS BUILDING AUTHORITY (ABBOTT POWER PLANT ADDITION AND IMPROVEMENTS AND BURRILL HALL BUILDING A D D I T I O N , URBANA) (18) T h e Board of Trustees on September 17, 1969, and December 10, 1970, 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 Seventy-sixth General Assembly had declared to be in the public interest. The Authority subsequently requested that the Board of Trustees take specific action to approve the leases for the Burrill Hall Building Addition, which the Board approved on April 21, 1971, and the Abbott Power Plant, which the Board approved on January 19, 1972. On January 18, 1972, the Authority sold its Fourteenth Bond Issue, which included these two projects and which resulted in lower costs than anticipated. The Illinois Building Authority has now forwarded to the University forms of the revised leases it requests be used on these projects. Copies of the lease forms have been forwarded to the Secretary of the Board for record. The terms of the lease for each project are as follows: Amount of Annual Rent Due Rental Feb. 1,1973, Heretofore and on or before Paid Under Feb. 1 of Each Interim Year Thereafter Amount of Legislative to Feb. 1,1996 Project Declaration IB A Bonding Lease Abbott Power Plant Addition and Improve$253 375 $3 375 000 $101 475 ments, Urbana $3 379 400 Burrill Hall Bldg. Addition, Urbana $1 382 750 $103 595 $1 380 000 $ 41 490 Funds for rental payments under the presently proposed leases for 1972-73 are being requested to be appropriated for F Y 1973. 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. 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 . H a h n , M r . H o w a r d , M r . H u g h e s , M r . Neal, M r . Pogue, M r . Steger, M r . S w a i n ; no, n o n e ; absent, Dr. Bakalis, M r . Grimes, Governor Ogilvie.