Repository: UIHistories Project: Board of Trustees Minutes - 1968 [PAGE 834]

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782

BOARD OF TRUSTEES

[October 16

lease shall contain options giving to this public corporation the right to renew said sublease for successive two year periods from July 1 of each odd-numbered year to June 30 of the next succeeding odd-numbered year by giving written notice to Foundation between the first and fifteenth day of July in each year when such renewal is to be made, to and including April 30, 1973, or until said sublease is finally terminated by the payment and liquidation of the above mentioned indebtedness, whichever shall first occur; and which sublease shall provide that this corporation subject to the availability of funds which may lawfully be applied to the payment of such rental will exercise said options for renewal for such biennial periods; (4) to commit this public corporation to act as agent for Foundation in the supervision of construction and administration of contracts therefore and change orders thereto, and the administration and service of said indebtedness, and in making payments of and disbursements from and of funds made available by the creditor of Foundation for the purpose of said construction and acquisition of facilities; and (5) to commit this corporation to hold all monies, instruments, accounts, securities or other property, and the income from investments thereof, which it now has or may hereafter receive or become entitled to from any person or entity for the use of the Krannert Art Museum for and devoted to such purpose; (6) to assign to Foundation the architectural agreement dated February 9, 1967, with Richardson, Severns, Scheeler & Associates, Inc., a Delaware corporation, for professional architectural services for the construction of an addition to, and the remodeling of certain portions of, the existing Krannert Art Museum; and (7) to sign, execute, acknowledge and deliver any and all other documents and instruments deemed necessary or desirable by said Comptroller and said Secretary to accomplish the purposes herein set forth. O n m o t i o n of M r . S w a i n , t h e f o r e g o i n g r e s o l u t i o n w a s a d o p t e d . PURCHASES (25) T h e President submitted, with his concurrence, a list of purchases recommended by the Director of Purchases and the Vice-President and Comptroller. The lists of purchases recommended for Board approval was presented in two categories: purchases from appropriated funds (i.e., from state appropriations to the University) and purchases from institutional funds. T h e 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 w e r e : F r o m Appropriated Funds $ 45 343 02 From Institutional F u n d s 264 677 21 Grand Total $310 020 23 A complete list of the 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. O n m o t i o n of M r . J o n e s , t h e p u r c h a s e s r e c o m m e n d e d w e r e authorized. COMPTROLLER'S REPORT OF PURCHASES APPROVED (26) 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.

This report was received for record.