Repository: UIHistories Project: Board of Trustees Minutes - 1970 [PAGE 247]

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1969]

UNIVERSITY OF I L L I N O I S

247

tion of the land on which this project is to be constructed will be transferred to the Illinois Building Authority at a later date. T h e low base bid was submitted by McCarthy Bros. Construction Company, St. Louis, Missouri, in the amount of $4,097,940. Proposals were also received from J. L. Simmons Co., Decatur, and C. Iber & Sons, Peoria. There are no irregularities in the bid proposal of the low bidder who is deemed fully qualified to construct this project. T h e State of Illinois Board of Higher Education has arranged with the Illinois Building Authority that the Authority will not use a portion of the amount declared by the General Assembly to be in the public interest until the State Board specifically approves such use. This reserve amount consists of a "cost increase reserve" to be used for the purpose of off-setting cost increases determined by actual bid experience. In accordance with the procedure adopted by the Board of Higher Education on October 3, 1967, and in order to complete construction as planned, it is necessary that the University request the Board of Higher Education and the Illinois Building Authority to release the $338,000 in the "cost increase reserve" for this project. Assuming the release of the "cost increase reserve" as stated above, the project budget will still be $155,000 in excess of the amount declared to be in the public interest for this particular project by the Seventy-fifth General Assembly. However, the Act provides that the cost of any specific project may exceed the amount set forth therefor provided that the aggregate amount to be financed by the Illinois Building Authority for each Board is not exceeded. In order to finance this deficit, it will be necessary to request the Illinois Building Authority to allocate to this project an additional $155,000 from the funds declared to be in the public interest and which are available from amounts not required for the Foreign Languages Building. Accordingly, the President of the University with the concurrence of appropriate administrative officers recommends: 1. The State of Illinois Board of Higher Education and the Illinois Building Authority be requested to release the $338,000 "cost increase reserve" to this project. 2. The Illinois Building Authority be requested to allocate an additional $155,000 to this project from the funds declared to be in the public interest for the Foreign Languages Building for the use of The Board of Trustees of the University of Illinois. 3. T h e Board of Trustees requests the Illinois Building Authority to award a construction contract for the sum of $4,097,940 to McCarthy Bros. Construction Company, St. Louis, Missouri, the low base bidder, and proceed to procure this facility for the use of the University. 4. T h e Comptroller and the Secretary of the Board be authorized to make, execute, acknowledge, and deliver such instruments of transfer, conveyance, lease, contract, and other documents as are necessary to provide for the carrying out of the foregoing project and facility by the Illinois Building Authority. 5. T h e adoption of the resolution submitted herewith to implement the official actions required. Submitted herewith is a report of the Physical Plant Planning and Construction Office, including a schedule of bids received, a copy of which is being filed with the Secretary of the Board for record. Resolution Be It, and It Hereby Is, Resolved by The Board of Trustees of the University of Illinois, a public corporation of the State of Illinois, that the Illinois Building Authority be, and it hereby is, requested to award McCarthy Bros. Construction Company, P.O. Box 20036, Brentwood Station, St. Louis, Missouri, a contract in the amount of $4,097,940 for construction of the Music Building at the Urbana-Champaign campus in accordance with the base bid submitted. Be It, and It Hereby Is, Further Resolved by The Board of Trustees of the University of Illinois, a public corporation of the State of Illinois, that the Comptroller and Secretary of this public corporation be, and they hereby are, authorized to make, execute, acknowledge, and deliver, in the name and in behalf