Repository: UIHistories Project: Board of Trustees Minutes - 1968 [PAGE 101]

EXTRACTED TEXT FROM PAGE:

1966]

UNIVERSITY OF ILLINOIS

49

have the work performed by the Physical Plant Department's Operation Maintenance Division, and it is, therefore, recommended that the work be done by the University. A special appropriation of $67,260 from the General Reserve is required. I concur.

On motion of Mrs. Watkins, this recommendation was approved and the requested assignment of funds was made by the following vote: Aye, Mr. Clement, Mr. Johnston, Mrs. Watkins; no, none; absent, none.

ACQUISITION OF PROPERTY AT 1 1 1 1 WEST OREGON STREET, URBANA (7) T h e Board of Trustees authorized the acquisition of the property at U l l West Oregon Street, Urbana, by eminent domain and condemnation proceedings and further authorized the settlement of the condemnation suit if such settlement can be effected at a price that is within appraisals received by the University. After condemnation proceedings were instituted, the defendants agreed to settle for a price of $62,000, which is within appraisals received by the University. A Judgment Order of the Circuit Court was entered which provides for the vesting of title to the property in The Board of Trustees of the University of Illinois upon payment of the Court's award of $62,000 as being a fair consideration for the property. It is recommended that the Board of Trustees now convey title to the property to the University of Illinois Foundation and that the following resolution be adopted to implement this transfer. R e s o l u t i o n R e g a r d i n g O s t e m a P r o p e r t y L o c a t e d at 1111 W e s t O r e g o n Street, U r b a n a , Illinois WHEREAS the Judgment Order of the Circuit Court of the Sixth Judicial District, Champaign County, Illinois, entered in, the condemnation case entitled "The Board of Trustees of the University of Illinois, a public corporation, Petitioner, vs. Lawrence William Ostema and Dorothy E. Ostema, et al., Defendants" No. 6S-L-604, under date of June 30, 1966, provides that upon payment to the County Treasurer of Champaign County, Illinois, of the amount of the award in the sum of Sixty-two Thousand Dollars ($62,000.00) title to the Ostema Property hereinafter described shall vest in this public corporation; and WHEREAS this public corporation desires that the University of Illinois Foundation, a not-for-profit corporation of the State of Illinois, pay the amount of said award in accordance with the terms of the Judgment Order and, upon title to said Ostema Property being conveyed by this public corporation to University of Illinois Foundation, to lease said Ostema Property to this public corporation and under the terms of which lease this public corporation shall be granted an option to purchase said Ostema Property. Now, Therefore, 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 upon payment of said award in accordance with the terms of said Judgment Order by the University of Illinois Foundation, that the Comptroller and Secretary of this public corporation be, and they hereby are, authorized and directed, to execute, acknowledge, and deliver, in the name, and in behalf of, this public corporation and under its Corporate Seal, a Warranty Deed, and such other documents in connection therewith as said Comptroller and Secretary may deem necessary or desirable in order to convey to University of Illinois Foundation title to the property hereinabove referred to as Ostema Property and described as follows, viz: Lot Twenty-two (22) in University Addition to the City of Urbana, situated in the City of Urbana, in the County of Champaign and State of Illinois. T h e Secretary of the Board and Clerk of the Committee reported that a majority of the members of the Board have individually, in writing, authorized the Executive Committee to act for the Board in this matter.

On motion of Mrs. Watkins, the recommendation was approved, and the foregoing resolution was adopted by the following vote: Aye, Mr. Clement, Mr. Johnston, Mrs. Watkins; no, none; absent, none.