| |
| |
Caption: Board of Trustees Minutes - 1968
This is a reduced-resolution page image for fast online browsing.
EXTRACTED TEXT FROM PAGE:
906 BOARD OF TRUSTEES [February 21 Civil Engineering Building and Addition At Urbana-Champaign $3 528 500 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 project as follows: Urbana-Champaign Campus IB A #75-13 Construct Civil Engineering Building and Addition $2 100 000 00 will not cause said aggregate amount to be exceeded; and WHEREAS the Illinois Building Authority has forwarded to the University of Illinois the form of the permanent construction lease which it requests be used for this projet; and has requested that the Board of Trustees take specific action to approve the same; copy of which lease form is presented herewith and is being filed with the Secretary of the Board for record; Now, Therefore, Be It, and It Hereby Is, Resolved that the Comptroller and Secretary of this Board of Trustees be, and hereby are, authorized to execute, acknowledge, and deliver in the name and on behalf of this corporation a lease with the Illinois Building Authority in substantially the form presented to this meeting for the following building and facility : Construction of a Civil Engineering Building and Addition at Urbana-Champaign Campus, at a cost to the Illinois Building Authority of $2,100,000.00 requiring 22 rental payments as follows: an initial rental on or before September 1, 1968 in the sum of $151,630.00; and during each successive renewal term of the Lease, the annual sum of $151,630.00 on or before the 1st of September of each year thereafter until Tune 30, 1990 with total rental payments of $3,734,850.00 (less the sum of $398,990.00 which has been paid under the terms of Interim Leases.) O n m o t i o n of M r . H a h n , a u t h o r i t y w a s g i v e n a s r e c o m m e n d e d a n d the foregoing resolution w a s adopted by the following vote: Aye, Mr. Clement, M r . Grimes, M r . H a h n , M r . Jones, M r . Pogue, M r . Swain; no, n o n e ; absent, M r . H u g h e s , G o v e r n o r K e r n e r , M r . P a g e , D r . W e a t h erly, M r . Williamson. LEASE WITH THE ILLINOIS BUILDING AUTHORITY SMALL ANIMAL CLINIC BUILDINGS, URBANA (19) The Board of Trustees on July 26, 1967, authorized the Comptroller and the Secretary of the Board to execute the necessary documents to permit the Illinois Building Authority to proceed with the Small Animal Clinic Buildings at the Urbana-Champaign campus, also known as Small Animal Clinic and HospitalVeterinary Medicine Complex, Phase I, which the Seventy-fifth General Assembly of the State of Illinois had declared to be in the public interest. The Board of Trustees at its meeting on January 17, 1968, requested the Illinois Building Authority to award a contract for the construction. The capital costs of the project, including the construction award, are to be financed by Illinois Building Authority funds in the sum of $6,065,000, the balance to come from state appropriations to the University. The Illinois Building Authority has now sent the University the form of permanent lease which should be used on this project and has requested that the Board of Trustees take specific action to approve the same. A copy of said lease form is presented herewith and is being filed with the Secretary of the Board for record. The lease relates to the following project and is on the terms indicated: Annual Rent Due September 1,1968, and on or before September 1 of Each Year Thereafter to June SO, 1990 $442 405 00 Project Small Animal Clinic Buildings, Urbana-Champaign... Legislative Declaration t6 812 000 00 IBA Project Cost »6 065 000 00 Amount of Rental Heretofore Paid Under Interim Lease Jl 053 726 00 Total Rental Payments „ „„ S10 786 635 00
| |
