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Caption: Board of Trustees Minutes - 1970
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424 BOARD OF TRUSTEES [June 18 University of Illinois, State of Illinois, a formal Grant Offer dated May 20, 1969, pursuant to the Project Application of T h e Board of Trustees of the University of Illinois, submitted to the Federal Aviation Administration dated January 24, 1969, all as hereinbelow set forth, and all relating to the development of the University of Illinois-Willard Airport, the same bearing F A A Project No. 9-ll-026-C907;and WHEREAS, pursuant to and for the purposes of carrying out the provisions of the Federal Airport Act (60 Stat. 170; Public Law 377, 79th Congress), it is necessary that said Grant Offer be duly and formally accepted by The Board of Trustees of the University of Illinois; and WHEREAS, such Grant Offer and such Acceptance thereof, duly executed, together shall constitute the Grant Agreement between The Board of Trustees of the University of Illinois, and the United States relating to said airport-development project; and WHEREAS, the said Grant Offer is in the words, figures and form following: FEDERAL AVIATION ADMINISTRATION GRANT AGREEMENT Part 1 — Offer Date of Offer 20 May 1969 University of Illinois-Willard Airport Project No. 9-11-026-C907 Contract No. DOT-FA-69-CE-3885 T h e Board of Trustees of The University of Illinois and the Department of Aeronautics, State of Illinois (herein referred to as the "Co-Sponsors") FROM : The United States of America (acting through the Federal Aviation Agency, herein referred to as the " F A A " ) WHEREAS, the Sponsor has submitted to the F A A a Project Application dated 24 January 1969, for a grant of Federal funds for a project for development of the University of Illinois-Willard Airport (herein called the "Airport"), together with plans and specifications for such project, which Project Application, as approved by the F A A is hereby incorporated herein and made a part hereof; and WHEREAS, the F A A has approved a project for development of the Airport (herein called the "Project") consisting of the following-described airport development: Install taxiway lights and taxiway guidance signs on parallel taxiway system serving Runway 13/31, including vault equipment. all as more particularly described in the property map and plans and specifications incorporated in the said Project Application; Now Therefore, pursuant to and for the purpose of carrying out the provisions of the Federal Airport Act, as amended (49 U.S.C. 1101), and in consideration of (a) the Sponsor's adoption and ratification of the representations and assurances contained in said Project Application, and its acceptance of this Offer as hereinafter provided, and (b) the benefits to accrue to the United States and the public from the accomplishment of the Project and the operation and maintenance of the Airport as herein provided, The Federal Aviation Agency, for and on behalf of The United States, hereby offers and agrees to pay, as the United States share of the allowable costs incurred in accomplishing the Project, 50 percentum thereof. This Offer is made on and subject to the following terms and conditions: 1. The maximum obligation of the United States payable under this Offer shall be $37,000.00. 2. The Sponsor shall: (a) begin_ accomplishment of the Project within Ninety days after acceptance of this Offer or such longer time as may be prescribed by the F A A , with failure to do so constituting just cause for termination of the obligations of the United States hereunder by the F A A ; (b) carry out and complete the Project without undue delay and in accordance with the terms hereof, the Federal Airport Act, and Sections 151.45-151.55 of the Regulations of the Federal Aviation Agency (14 C F R 151) in effect To:
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