Repository: UIHistories Project: Board of Trustees Minutes - 1970 [PAGE 433]

EXTRACTED TEXT FROM PAGE:

1969]

U N I V E R S I T Y OF I L L I N O I S

433

Dentistry-Medicine-Pharmacy Auxiliary Fund (Medical Center) Purchase: $50 000 U.S. Treasury bills due 6/12/69 Sinking Women's Residence Halls Purchase: $1 000 U.S. Treasury bills due 2/28/70 Funds

49 560 83

958 27

AUTHORITY

This report was received for record.

L E A S E S WITH T H E ILLINOIS B U I L D I N G

(31) The Board of Trustees on July 26, 1967, 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 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 three 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. T h e leases relate to the following University projects and are on the terms indicated: Annual Rent Due September 1, 1969, and on or before September Amount of 1, 1970, and on Rental or before Heretofore September 1 of Paid Under Each Year Legislative Amount of Interim Thereafter to Project Declaration IBA Bond Lease June 30,1993 Education Center Building, Chicago Circle 1 %(, 781 S7S ?5 595 000 $482 440 ?459 845 Utilities Center Addition, Chicago Circle 2 . . . . 2 297 900 2 145 000 163 475 177 190 Music Building, Urbana 4 380 000 4 285 000 311595 354 590 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 for 1969-70 are being requested to be appropriated by the Seventy-sixth General Assembly. The leases provide for termination in the event such appropriations are not made. 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 Education Center Building, Utilities Center Addition, and Music Building 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

1 a

Also known as Education and Communications Building. Also known as Utilities Building Addition.