Repository: UIHistories Project: Board of Trustees Minutes - 1962 [PAGE 16]

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1960]

UNIVERSITY OF ILLINOIS

13

DESIGNATION O F CONTINENTAL ILLINOIS NATIONAL BANK A N D TRUST COMPANY AS DEPOSITARY O F PROCEEDS OF HOUSING REVENUE BONDS OF I 9 6 0

(26) On June 14, 1960, the Board authorized the deposit of the proceeds of the Housing Revenue Bonds of 1960 in a construction account in the Continental Illinois National Bank and Trust Company of Chicago. The Bank has requested that a formal resolution be adopted as follows: Resolution Be It Resolved, That the Continental Illinois National Bank and Trust Company of Chicago be and hereby is designated a depositary in which construction funds of this corporation may be deposited by its officers, agents, and employees and that the Comptroller, or any other officer of this corporation, be and hereby is authorized to open and maintain an account or accounts with said Bank and to endorse and deposit with said Bank negotiable instruments and orders for the payment of money which endorsements may be made in writing or by a stamp and without designation of the person so endorsing, and it being understood and agreed that on all such items deposited, all prior endorsements are guaranteed by this corporation whether or not an express guaranty is incorporated in such endorsements. And Be It Further Resolved, That the Continental Illinois National Bank and Trust Company of Chicago as a designated depositary of this corporation be and it is hereby requested, authorized, and directed to honor checks, drafts, or other orders for the paymeut of money drawn in this corporation s name, including those drawn to the individual order of auy person or persons whose name or names appear thereon as signer or signers thereof, when bearing or purporting to bear the facsimile signature(s) of the President and Secretary, and Continental Illinois National Rank and Trust Company of Chicago shall be entitled to honor and to charge this corporation for all such checks, drafts, or other orders, regardless of by whom or by what means the facsimile signatures thereon may have been affixed thereto, if such facsimile signatures resemble the facsimile specimens duly certified to or filed with the Continental Illinois National Bank and Trust Company of Chicago by the Secretary or other officer of this corporation. The Vice-President and Comptroller recommends adoption of this resolution. I concur.

On motion of Mr. Swain, the foregoing resolution was adopted,

BICYCLE REGULATIONS AND APPROPRIATION FOR PARKING LOTS

(27) A faculty Committee on Bicycle Control and Pedestrian Traffic, appointed by Vice-President and Provost Gordon N. Ray in January, 1960, has completed a study of the problems created by the increasing number of bicycles on the campus and has made recommendations with respect to these and related problems. The Committee recommends adoption of a code of regulations for the registration, operation, and parking of bicycles on the campus for the safety of pedestrians and operators. I have approved these regulations, a copy of which is being filed with the Secretary of the Board for record. No registration fee will be required but the regulations provide for fines for violations, similar to fines for violations of other campus regulations. Fines collected will be turned over to the Student Senate for its operating expenses and for scholarships. I recommend that an appropriation of $14,000 be made from the General Reserve Fund for the construction of five new bicycle parking areas and an addition of $1,250 to the operating budget of the Security Office for the cost of registration and enforcement.

On motion of Mr, Johnston, the report of the President's action was received for record, and the appropriations requested were made by the following vote: Aye, Mr. Harewood, Mr, Hughes, Mr, Johnston, Mr. Pogue, Mr. Swain, Mrs. Watkins, Mr, Wilkins, Mr, Williamson; no, none; absent, Mr, Clement, Mr. Herrick, Mr. Stratton.