Repository: UIHistories Project: Board of Trustees Minutes - 1970 [PAGE 573]

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1969]

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

573

The only apparent liabilities are a lease for office space at 549 West Washington Boulevard, Chicago, and certain commitments for students loans for the 1969-70 school year. The lease, which will terminate April 30, 1971, requires a payment of $80 per month; this may have to be assumed by the University until that date. Arrangements are being made by the Office of Business Affairs for the transfer of the assets upon dissolution of the Foundation, probably about January, 1970. T h e Vice President and Comptroller recommends that authorization be granted for the acceptance of these funds for student loan purposes to be administered in accordance with procedures and policies of the University. I concur.

On motion of Mr. Jones, authorization was granted as recommended.

REPORT OF GIFT FROM JOHN WOODWORTH LESLIE AND RECOMMEDATION TO RENAME PEACOCK PRAIRIE (42) Mr. John Woodworth Leslie, honorary chairman of the board of Signode Corporation, has offered a gift of $75,000 to the University of Illinois for the construction of an interpretation center and for other improvements on the property in Cook County acquired by the University in 1968 and now known as "Peacock Prairie." Construction of this facility will protect the prairie and make it available for scientific, educational, and limited public visitation uses — and it will make earlier gifts to acquire the prairie meaningful. Funds for the land were provided by a grant from the Bureau of Outdoor Recreation of the Department of Interior, a gift from the Chicago Community Trust, and an assignment from the Chicago Circle Contract Research Reserve. The Chancellor at Chicago Circle recommends that the prairie be renamed James Woodworth Prairie Preserve for Mr. Leslie's grandfather who was an early Chicago conservationist, and Mayor of Chicago from 1848 to 1850. I concur.

On motion of Mr. Swain, the recommendation to rename this site was approved.

ESTATE OF LENA LOUISE SACHS (43) The Chancellor at the Medical Center campus and the Vice President and Comptroller recommend that the bequest of $79,357.61 from the Estate of Lena Louise Sachs be applied in the following manner, as contemplated by the will: The full amount to be established as an endowment, the income to be used to provide scholarships known as the "Theodore B. Sachs Scholarships" for deserving and needy students of promise in the College of Medicine upon the recommendation of the Dean and the appropriate faculty committee in the College of Medicine. Mrs. Sachs' husband, Theodore B. Sachs, was graduated from the College of Medicine of the University of Illinois in 1895. From 1901 to 1903 Dr. Sachs served as an instructor in internal medicine at the University of Illinois. I concur.

On motion of Mr. Pogue, this recommendation was approved.

PURCHASES (44) The President submitted, with his concurrence, a list of purchases recommended by the Directors of Purchases and the Vice President and Comptroller; also two purchases authorized by the President. The list of purchases was presented in two categories: purchases from appropriated funds (i.e., from state appropriations to the University) and purchases from institutional funds. The latter term designates funds received by the University under contracts with the United States government, contracts with private corporations and other organizations, funds from foundation grants, and grants from corporations and other donors, and University revolving funds authorized by law.