Repository: UIHistories Project: Board of Trustees Minutes - 1962 [PAGE 197]

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194

BOARD OF THUSTEES

MEETINGS O F COMMITTEES

[November 16

Meetings of the Board's Committees on General Policy and Buildings and Grounds were held on Wednesday, November 16, 1960, beginning at 10; 00 a.m.

ADDRESS BY MR. PARK LIVINGSTON

President Williamson announced that he had invited Mr. Park Livingston, a former member of the Board of Trustees for eighteen years (1941-59) and President of the Board for twelve of those years, and Chairman of the State Citizens Committee for the Universities Bond Issue, to today's meeting as a guest and to report on the work of the Committee. Mr. Livingston was introduced and he addressed the Board briefly on the activities of the Committee. He cited examples of noteworthy services performed by a number of individuals, business and professional organizations, and other groups in presenting to the people of Illinois the facts about the Universities Bond Issue. He also reported on results known to date of the balloting on the bond issue in the 1960 election. At the conclusion of his address, Mr. Wayne A. Johnston offered the following resolution, and moved its adoption: In the summer of 1960, the Governor appointed a state "Citizens Committee for the "Universities Bond Issue." This is a non-partisan committee. Its members include some 140 civic-minded men and women from all walk's of life and all areas of the state. Working in cooperation with Committees on bond issue interpretation representing the constituencies of the state universities and with local county organizations, the state Committee devoted itself to informing the people of Illinois of the crisis in higher education they will face in the next ten years and the alternatives. The Board of Trustees takes this occasion to express publicly its appreciation of the services of the state Committee and particularly of its Chairman, Mr, Park Livingston of Chicago, who did so much of the work. He gave the task at hand distinguished leadership, directed the state-wide activities effectively, and made numerous personal appearances at much sacrifice of time from his own affairs. It is impossible to identify all of the other individuals who in one way or another worked on the interpretation of the bond issue, so that in this public recognition of the Committee's and Mr. Livingston's services, the Doard would have it known it is also recording its appreciation of the services of all who worked with the Committee at all levels. In a public issue of this kind every effort counts. This resolution was adopted by a standing vote. BUSINESS PRESENTED BY THE PRESIDENT OF THE UNIVERSITY The Board took up consideration of the following reports and recommendations from the President of the University.

ILLINI U N I O N AND HEALTH CENTER REVENUE BONDS

( I ) The Vice-President and Comptroller submits the following recommendation? relating to the issue of "The Board of Trustees of the University of Illinois Illini Union and Health Center Bonds, Series A and B of 1960." The Comptroller and Secretary of the Board be authorized to execute a Loan Agreement with the Housing and Home Finance Agency upon terms satisfactory to the Comptroller and consistent with a resolution to be presented to the Board for adoption at a subsequent meeting; The Series A bonds in the amount of $5,200,000 be sold to Halsey, Stuart, and Company, Inc., and Associates at a price of $5,151,670 and at an effective interest rate of 3.89162 per cent, which represents the lowest interest cost to the University;