Repository: UIHistories Project: Board of Trustees Minutes - 1962 [PAGE 1390]

EXTRACTED TEXT FROM PAGE:

1962]

UNIVERSITY OF ILLINOIS Adjustments Made in 1961-62 Cost-Pius Contracts

1387

With Whom E. T. Drewitch (Plastering) M. E. Hollett (Painting) Total

Purpose Twenty-three items: $63.23 deduct to $1,925.00 Three items: $156.30 to $938.70

$

Amount 7 819 76 1 321 86

Date January and February, 1962 December, January and February, 1961 and 1962

$ 9 H I 62

This report was received for record.

ACCIDENTAL. DEATH, DISMEMBERMENT, AND TOTAL PERMANENT DISABILITY INSURANCE (20) Bids have been taken on a voluntary Group Accidental Death, Dismemberment, and Permanent Total Disability Insurance program for the employees of the University and its branches for a period of three years with the right reserved to renew the contract thereafter upon the mutual agreement of the University and the insuring company. The Vice-President and Comptroller recommends the contract be awarded to H. R. Bresee and Company, Champaign, as agent for the American Casualty Company, Reading, Pennsylvania, the lowest bidder, at the following monthly rates for the four optional amounts of insurance. Amounts of Insurance: $10,000 $25,000 $50,000 $100,000 Premium per Month: $.42 $1.17 $2.73 $6.27 The entire cost of the insurance will be paid by the employees electing the coverage. The policy will provide world-wide coverage for loss resulting from any accidental bodily injury sustained while the policy is in force, except for limited standard exclusions. The policy will provide coverage for all forms of travel, including air travel as a passenger in any licensed aircraft. The Finance Committee has approved the program in principle and authorized the taking of bids. I concur. O n m o t i o n of M r . S w a i n , t h i s r e c o m m e n d a t i o n w a s a p p r o v e d . ACQUISITION OF PROPERTY AT 13 0 5 WEST STOUGHTON STREET. URBANA (21) The property at 1305 West Stoughton Street, Urbana, is in the University's long-range development plan announced in 1958, and acquisition of this property is included in the University's program for 1961-63 to provide a site for the construction of an addition to the Digital Computer Laboratory. Funds are now available for the building construction and architectural studies have been started. The property was purchased in September, 1961, by Mr. Samuel H. Young, Chicago. The Buildings and Grounds Committee authorized negotiations with the owner to purchase the property within appraised values, with the understanding that if the property can not be purchased through negotiations, condemnation proceedings be instituted for its acquisition. Negotiations have been continued with the owner of the property, but he is unwilling to sell for a price within the appraised values. Accordingly, the Director of the Physical Plant and the Vice-President and Comptroller recommend adoption of the following resolution authorizing condemnation proceedings. Resolution Be It, and It Is Hereby Resolved, Found, and Declared by this Board of Trustees of The Board of Trustees of the University of Illinois, a body corporate and politic and a public corporation of the State of Illinois, that the followingdescribed real estate situated in the County of Champaign, in the State of Illinois, to-wit: Lot Three (3) in Block Fifty-Four (54) of the Seminary Addition to Urbana, situated in the City of Urbana, County of Champaign, and the State of Illinois: •s needed by the University of Illinois, an educational institution established and