Repository: UIHistories Project: Board of Trustees Minutes - 1968 [PAGE 730]

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678

BOARD OF TRUSTEES

[July 26

(32) North, Range Eleven (11) East of the Third Principal Meridian, in the County of Kankakee and State of Illinois, containing 250 acres, more or less; also "Lots Four (4), Five (5), Seven (7), Eight (8), Nine (9), and Eleven (11) of the Whitten & Gooding's Subdivision of the Southeast Fractional One-Fourth 0 4 ) of Section Thirty-One (31), and the Southwest Fractional One-Fourth 0 4 ) of Section Thirty-Two (32), of Township Thirty-Three (33) North, Range Ten (10) East of the Third Principal Meridian containing 122.8 Acres more or less, situated in the Township of Florence, Will County, Illinois; and "Lots One (1), Two (2), Three (3), Six (6), and Ten (10) of Whitten's and Gooding's Subdivision of part of Sections Thirty-One (31) and Thirty-Two 32), according to the plat thereof recorded on April 22, A. D. 1874, as Doc. No. 93184 in Plat Book 3, on Page 42, thereof, of Will County Records, also the North Twenty-Three (23) acres of the West Half ( W V$) of the Southeast Quarter ( S E Vi) of Section Thirty-One (31), all in Township Thirty-Three (33) North, and in Range Ten (10) East of the Third Principal Meridian, in Will County, Illinois, also the West half ( W 1/2) of the Southwest Quarter ( S W VA) of Section Thirty-One (31), and the West Seventeen and Three Hundredths (17.03) acres of the Northeast Quarter ( N E V4) of the Southwest Quarter ( S W 14) of Section Thirty-One (31), all in Township Thirty-Three (33) North, Range Ten (10) East of the Third Principal Meridian, being in the Town of Florence, in the County of Will and the State of Illinois." O n m o t i o n of M r . S w a i n , the foregoing resolution w a s a d o p t e d . PURCHASE OF LIABILITY INSURANCE (39) Bids have been received for a public liability insurance policy covering all University operations and also providing coverage to employees for personal liability they may incur in the course of their employment by the University. Bids were received on three bases : 1. $2,000,000 for each occurrence. 2. $500,000 personal injury for each person and $1,000,000 for each occurrence and property damage of $500,000 for each occurrence. 3. Coverage of $25,000 personal injury for each person and $1,000,000 for each occurrence for the University and $300,000 for each person and $1,000,000 for each occurrence for employees and $25,000 University property damage and $300,000 property damage for employees. Under all three alternates, aircraft passenger liability was limited to $100,000 per passenger. After evaluation of the bids received, the Finance Committee supports the recommendation of the Vice-President and Comptroller that the University purchase the policy which provides for a coverage of $500,000 for each person, $1,000,000 each occurrence for personal injury, and $500,000 in property damage for each occurrence, and the award of a contract for such insurance to McManus & Pellouchoud, Inc., Chicago, for the comprehensive-general-automobile coverage at an annual premium of $62,278, and the award of the insurance policy for aviation liability to O'Neil-Hidy Agency, Champaign, at an estimated annual premium of $15,785, both awards being to tied low bidders selected by lot. (The actual premium on the aviation policy is developed on the basis of hours flown.) It is also recommended that the policy be purchased for three years with the right on the part of the University to cancel such contract on an annual anniversary date. The Finance Committee has concluded that the recommended extension of insurance coverage for the University and its employees is in the best interests of the University, and that prior actions of the Board relating to insurance practices should be modified to the extent they may be inconsistent with this recommendation. Funds are available in the 1967-69 appropriations by the General Assembly for the automobile portion of the premium; and in the Airport Operations, Workmen's Compensation, and Contract Research Reserves for the balance of the premium. O n m o t i o n of M r . S w a i n , t h e s e r e c o m m e n d a t i o n s w e r e a p p r o v e d b y the following vote: Aye, M r . Clement, M r . Grimes, M r . H a h n , M r .