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Caption: Board of Trustees Minutes - 1962
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1962] UNIVERSITY OF ILLINOIS 1453 suit, and authority to proceed with the litigation and employ such other special counsel as he may deem appropriate. I concur. O n m o t i o n of M r . W i l l i a m s o 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 . M r . H a r e w o o d a s k e d t o be r e c o r d e d a s v o t i n g " n o " ; M r . D i l l i a r d asked t o b e r e c o r d e d a s " n o t v o t i n g . " B E Q U E S T O F LIZZIE GILMAN (29) Mrs. Lizzie Gilman of Dana, Illinois, who died November 13, 1959, left to her daughter, Bertha Ann Gilman Cullen, a life interest in all her real estate outside the corporate limits of the village of Dana. Upon the death of her daughter, the public administrator is to sell all this property and distribute it as provided in her will as follows: "When said real estate has been fully liquidated the proceeds of said sales shall be added to such amounts as shall have been received as rentals from the real estate and said sum shall be divided into three equal parts and distributed as follows: "A one-third part shall be paid unto the Illinois Division, American Cancer Society, Inc., whose offices are now located at 132 North Clark Street, Chicago, Illinois; "A one-third part shall be paid unto the School of Medicine of the University of Illinois, which said sum shall be paid over unto said School of Medicine to establish a fund for the purpose of study and research in the field of Mental Illness. "A one-third part shall pe paid unto the School of Medicine of Northwestern University located at Chicago, Illinois, which said sum shall be paid over unto said School of Medicine for the purpose of establishing a fund for the study and research in the field of Mental Illness. "I further provide that if for any reason that should any of the above funds which is hereby directed to be distributed shall be refused, or for some other reason fail and can not be carried out then I provide that such funds shall be distributed among such of the other funds named hereunder in equal parts." However, the personal property was insufficient to pay all the debts and taxes upon the estate, and the executor applied to the courts for and received permission to sell one tract of the real estate to pay these obligations which was done in 1961. The Northern Illinois Gas Company now desires to purchase two of the eight remaining properties, and, conditioned upon approval of the Illinois Commerce Commission which is believed will be readily obtained, has offered $400 an acre, or the total of $135,884 for the remainder interest, one-third of which, or $45,294.67, would be paid to the University of Illinois, upon completion of the sale. The Vice-President and Comptroller recommends that the offer of Northern Illinois Gas Company be accepter! by the University. The price offered exceeds the estimated value of the land as appraised by the College of Agriculture, after giving consideration to the value of the life estate. T h e American Cancer Society and Northwestern University have already approved the sale at the price indicated. The Vice-President for the Medical Center and the Dean of the College of Medicine recommend that the University's share of the proceeds be set up as an endowment fund, with the income to be used for the purpose specified in the will. I concur in these recommendations; the following resolution is offered for adoption. O n m o t i o n of M r . W i l l i a m s o 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 proved. Resolution Be It, and It Is Hereby, Resolved by this Board of Trustees of T h e Board of Trustees of the University of Illinois that the Comptroller and Secretary of this public corporation be, and they hereby are, authorized, for and on behalf of, and in the name of, this public corporation to prepare, execute, and deliver to Northern Illinois Gas Company a quitclaim deed conveying all right, title, and interest of this public corporation in and to the following described property, to wit:
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