Repository: UIHistories Project: Board of Trustees Minutes - 1968 [PAGE 233]

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1966]

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

181

The Foundation has now proposed that Eli Lilly and Company of Indianapolis, Indiana, be given an option to obtain an exclusive license. The option will extend for three years, with the right to extend this period for an additional year. The license will be limited to a period of three years from the time any product which Lilly may develop as a result of the discovery is placed on the market. The license will extend to the United States and certain foreign countries. In return for this option, Eli Lilly agrees to make a down payment which will cover the costs of filing specified foreign patent applications and, in addition, a monthly payment so long as the option is in effect. Dr. Spiegelman is in agreement with this arrangement. The Vice-President and Comptroller recommends approval of the proposal. I concur.

On recommendation of Mr. Swain, this recommendation was approved.

PURCHASES (23) The President submitted, with his concurrence, a list of purchases recommended by the Director of Purchases and the Vice-President and Comptroller; also a list of purchases authorized by the President's Office. The lists of purchases authorized and purchases recommended for Board approval were 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. The total amounts of these purchases were: From Appropriated Funds Purchases Recommended $113 225 59 From Institutional Funds Purchases Authorized 46 121 81 Purchases Recommended 319 043 08 $365 164 89 Grand Total $478 390 48 A complete list of the purchases authorized and purchases recommended, with supporting information, including the quotations received, was sent to each member of the Board in advance of the meeting, and a copy is being filed with the Secretary of the Board for record.

On motion of Mr. Johnston, the purchases authorized by the President's Office were approved, and the purchases recommended were authorized.

COMPTROLLER'S REPORT OF PURCHASES APPROVED (24) The Vice-President and Comptroller also submitted a report of purchases approved by him on recommendation of the Director of Purchases in amounts of $2,500 to $5,000. A copy of this report is filed with the Secretary of the Board.

This report was received for record.

COMPTROLLER'S REPORT OF CONTRACTS (25) The Comptroller's report of contracts executed during the period September 1 to 30, 1966. New Contracts

With Whom State of Illinois Department of Mental Health 17-277 Syracuse University Research Corporation SURC 66124 Purpose Legal standards and procedures regulating civil and criminal commitment and release in Sweden, Denmark, and the United States Investigative studies for plasma discharge display devices Amount to be Paid to the University $ 8 223 00 19 687 00