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Caption: Board of Trustees Minutes - 1970
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186 BOARD OF TRUSTEES [November 22 Mr. Jones, Mr. Pogue, Mr. Swain, Mr. Williamson; no, none; absent, Mr. Page, Governor Shapiro, Dr. Weatherly. LEASES WITH T H E ILLINOIS BUILDING AUTHORITY (17) The Board of Trustees 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 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 forms of the leases which it requests be used on four of the projects and has requested that the Board of Trustees take specific action to approve the same. Copies of said lease forms as presented at this board meeting are being filed with the Secretary of the Board for record. The leases relate to the following University projects and are on the terms indicated: Annual Rent Due March 1, 1969, and on or before September 1, Amount of 1960, and on Rental or before Heretofore September 1 Paid Under of Each Year Interim Thereafter to Lease June 30,1992 J491 180 240 845 J294 47$ 230 430 Project Physical Education Building, Chicago Circle Medical Research Laboratory Addition. Medical Center.. Library (Fifth Stack) Building Addition, and Women's (Freer) Gymnasium Addition, Urbana Legislative Declaration $6 904 435 3 385 500 Amount of IBA Bonds $4 250 000 3 245 000 Total Rental Payments J7 558 580 5 771 165 3 001 600 2 720 000 213 530 192 665 4 837 490 The execution of the interim leases 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 leases during the current biennium 1967-69 are available to the University from appropriations made by the Seventy-fifth General Assembly. 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 be adopted. Resolution Authorizing Leasing of Physical Education Building, Medical Research Laboratory Addition, Library (Fifth Stack) Building Addition, and W o m e n ' s (Freer) Gymnasium Addition From Illinois Building Authority WHEREAS The 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 Seventyfifth General _ Assembly of the State of Illinois has declared, among others, the following University of Illinois projects at the Chicago Circle Campus, the Medical Center Campus and the Urbana-Champaign Campus to be in the public interest: A. Construct Physical Education Building, Chicago Circle Campus $6 904 435 B. Construct Medical Research Laboratory Addition, Medical Center Campus $3 385 500 C. Construct Library (5th Stack) Building Addition, Urbana-Champaign Campus $1 836 200 D. Construct Women's (Freer) Gymnasium Addition, Urbana-Champaign Campus $1 165 400
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