Repository: UIHistories Project: Board of Trustees Minutes - 1970 [PAGE 353]

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1969]

UNIVERSITY OF ILLINOIS

353

Merrill for continuation of studies on the master plan for the Chicago Circle campus, to update the original model of the campus at a cost of $19,595. Subsequently the Board of Higher Education took action requiring the develo p m e n t ^ a ten-year campus plan and a fifteen-year land use plan as a basis for submitting the 1971-73 capital program requests. This planning will require the use of a working, or block, model, but without the detailed design which was incorporated in the original model. Since a working, or block, model will cost approximately $4,000 and can be constructed by a staff member at the Chicago Circle campus with some use of student labor, the construction of the working model has been authorized, and the original proposal to update the model has been deferred. Accordingly, the President of the University, with the concurrence of appropriate administrative officers, recommends that the previous authorization by the Board on May 15, 1968, be rescinded. After completion of the long-range campus planning and its official approval, it may still be desirable to proceed with the original proposal to update the existing model, in which case a recommendation will be resubmitted to the Board of Trustees for approval.

On motion of Mr. Clement this recommendation was approved by the following vote: Aye, Mr. Clement, Mr. Grimes, Mr. Hahn, Mr. Hughes, Mr. Jones, Mr. Pogue, Mr. Steger, Mr. Swain; no, none; absent, Governor Ogilvie, Mr. Page, Dr. Weatherly.

SUPPLEMENTATION O F REVENUES FOR MEDICAL C E N T E R BONDS OF 19 6 4 (24) The resolution authorizing $3,600,000 Medical Center Bonds of 1964, approved by the Board on December 16, 1964, provides in Section 5.02 (c) for a Replacement and a Repair Reserve consisting of two parts, to which shall be transferred annually $15,000 for an equipment replacement reserve, and $12,000 for a repairs reserve. These sums are in addition to the funds required for operation and maintenance expense and for payments into the Bond and Interest Sinking Fund Account. However, Section 5.03 provides that the supplementation of revenues from student tuition shall be only the amount needed to meet the operation and maintenance expenses and to provide the payments into the Bond and Interest Sinking Fund Account. Section 7.07 of said resolution requires that the University fix and maintain such student service charges, rates, rents, fees and charges for the use of said facilities as, when supplemented with student tuitions to the extent provided in Section 5.03, will provide revenues sufficient to provide and maintain the Bond and Interest Sinking Fund Account and the required revenues therefor, to pay the reasonable cost of operating and maintaining the facilities and provide and maintain the Repair and Replacement Reserve. Presently, the revenues derived from the operation of the facilities, including student service charges for use of the facilities, are insufficient to satisfy all of the requirements of said Section 7.07 and a deficiency exists in the Repair and Replacement Revenue therefor. The University must either increase such student service charges as required by Section 7.07 or provide for additional supplementation from student tuitions as may be necessary to provide and maintain the Repair and Replacement Revenue. It is deemed in the best interest of the University to further supplement the revenues derived and to be derived from the facility rather than to increase said student service charges or other rates, rents, fees and charges for the use of said facility. I concur and recommend adoption of the following resolution: Resolution WHEREAS, The Board of Trustees of the University of Illinois has heretofore issued its Medical Center Bonds of 1964 under and pursuant to a Resolution duly adopted on December 16, 1964; and WHEREAS, there is a deficiency in the Repair and Replacement Reserve provided to be established and maintained by said Resolution and it is hereby determined that it is necessary to supplement the revenues derived from the facilities