Caption: Board of Trustees Minutes - 1968
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1966] UNIVERSITY OF ILLINOIS 251 that the Board of Trustees take specific action to approve the same. Copies of said lease forms are presented herewith and are being filed with the Secretary of the Board for record. The leases relate to the following University projects and are on the terms indicated: Two Year Annual Rent Rent Paid Due SeptemUnder Interim ber 1, 1967, Lease During and Each 1965-67 Year ThereBiennium after J3SS 700 00 J239 810 00 Legislative Project Declaration Undergraduate Library, UrbanaChampaign $2 500 000 00 East DentistryMedicine-Pharmacy Building Addition, Chicago Medical Center Campus 2 245 000 00 Amount of IBA Bonds J3 301 300 00 Total Rental Payments $S 871 330 00 2 813 700 00 319 420 00 203 685 00 5 004 175 00 Funds for the rental payments under the leases during the current biennium, 1965-67, have been paid from appropriations made by the General Assembly under the interim leases previously executed as authorized on September 22, 1965. The Vice-President and Comptroller, the Director of the Physical Plant, and the Legal Counsel recommend that the Comptroller and Secretary of the Board of Trustees be given specific authorization to execute these leases in substantially the form presented in this meeting and that the following resolution be adopted. I concur. R e s o l u t i o n A u t h o r i z i n g L e a s i n g of U n d e r g r a d u a t e L i b r a r y Building and E a s t D e n t i s t r y - M e d i c i n e - P h a r m a c y Building Addition from Illinois Building A u t h o r i t y WHEREAS The Board of Trustees of the University of Illinois on September 22, 1965, 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-Fourth General Assembly of the State of Illinois had declared to be in the public interest; and WHEREAS in accordance with the Illinois Building Authority Act the Seventy-Fourth General Assembly of the State of Illinois has declared, among others, the following University of Illinois projects at the Champaign-Urbana Campus and the Medical Center Campus to be in the public interest: A. Construct Undergraduate Library Building Champaign-Urbana Campus $2 500 000 00 B. Construct East Dentistry-Medicine-Pharmacy Building Addition Medical Center Campus $2 245 000 00 and WHEREAS said declaration also provides that the cost of any specific project could exceed the amount set forth therefor so long as the aggregate amount stated therein to be financed by the Illinois Building Authority for the University is not exceeded; and WHEREAS the amount designated for said projects as follows: A. Champaign-Urbana Campus IBA #74-10 Construct Undergraduate Library Building $3 301 300 00 B. Medical Center Campus IBA #74-12 Construct East Dentistry-Medicine-Pharmacy Building Addition $2 813 700 00 will not cause said aggregate amount to be exceeded; and WHEREAS the interim leases applicable to these projects which were heretofore executed pursuant to prior authorization were for lesser amounts than now being designated; and WHEREAS the Illinois Building Authority has forwarded to the University of Illinois forms of the permanent construction leases which it requests be used for these projects and which will supersede the interim leases; and has requested
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