Repository: UIHistories Project: Board of Trustees Minutes - 1962 [PAGE 1217]

EXTRACTED TEXT FROM PAGE:

1214

BOARD OF TRUSTEES

of The Board of Trustees of the University of Illinois, a public corporation of the State of Illinois, that the Comptroller and Secretary of this Corporation be, and they hereby are, authorized and directed, to execute, acknowledge, and deliver in the name of, and in behalf of, this Corporation, and under its Corporate Seal, a Quit-Claim Deed and such other documents in connection therewith as said Comptroller and Secretary may deem necessary or desirable in order to convey to Dr. Thomas R. Skaggs and Mrs. Suzanne Bryant Skaggs, husband and wife, all right, title, and interest this Corporation may have in or to the followingdescribed property, viz.: Beginning at a point Twelve (12) rods West of the Southwest corner of Lot Six (6) in Block One (1) of McLaurie, Leal and Cloke's Addition to the City of Champaign, Illinois, thence North One Hundred Twenty-four (124) feet, more or less, to an alley, thence West Sixty-seven (67) feet, thence South to the North line of Park Avenue, thence East on the North line of Park Avenue to the place of beginning, situated in the County of Champaign and State of Illinois. Be It And It Hereby Is Further Resolved that said Comptroller and Secretary of this Corporation be, and they hereby are, authorized and directed to enter into a trust agreement in the name, and in behalf of, this Corporation and to execute such other documents in connection therewith as said Comptroller and Secretary may deem necessary or desirable in order to place the proceeds from the sale, after deduction for the costs of a title policy, appraisal, federal documentary tax stamps, attorney's fees, abstracting and recording costs, and other expenses usually incident to a sale, in trust with the First National Bank in Champaign, a national banking association, organized and existing under and by virtue of the laws of the United States of America and doing business and having its principal office at 30 Main Street, in the City of Champaign, County of Champaign, and State of Illinois, or other local corporate trustee, under an agreement whereby the income of the corpus of the trust shall be paid to Mrs. Birdie M. Nash during her lifetime, and upon her death the corpus of the trust shall be distributed to Mrs. Lois Nash Dickson, if she then be living, and if she should not then be living, to this Corporation in accordance with the provisions of the Will of Mary C. McLellan, Deceased.

On motion of Mr. Clement, the foregoing resolution was adopted by the following vote: Aye, Mr. Clement, Mr. Dilliard, Mr. Harewood, Mr. Johnston, Mr. Pogue, Mr. Swain, Mrs. Watkins, Mr. Wilkins, Mr. Williamson; no, none; absent, Mr. Hughes, Mr. Kerner.

ANNUAL MEETING

Some of the Trustees stated that they would be unable to attend the next annual meeting if held on the second Tuesday of March as provided in the Bylaws. On motion of Mrs. Watkins, the Board voted to change the date of the 1962 annual meeting from Tuesday, March 13, to Thursday, March 15, to be held in Urbana. There were no dissenting votes. It was the consensus of the Board that no changes be made in the dates of the other meetings following March and during the first half of the calendar year 1962. Accordingly, these meetings will be held on the third Wednesdays as provided in the Bylaws: February 21 and April 18 (in Chicago), May 16 and June 20 (in Urbana). On motion of Mr. Pogue, the Board adjourned.

A. J. JANATA

KENNEY E. WILLIAMSON

Secretary

President