Repository: UIHistories Project: Board of Trustees Minutes - 1962 [PAGE 551]

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548

BOARD OF TRUSTEES

[June 2]

such rules and regulations and fix and maintain such student service charges (M denned in said Resolution), rates, rentals, fees, and use of said facilities and pro. vide revenue sufficient to provide and maintain the Bond and Interest Sinking Fund Account and the required reserves therefor and to pay the reasonable cost of operating and maintaining facilities; and WHEBEAS, The Board of Trustees of the University of Illinois desires to comply with the above cited provisions and to adopt certain rules and to provide for certain charges applicable to the operation of the facilities; Now, Therefore, Be It and It Is Hereby Resolved by The Board of Trustees of the University of Illinois that the officers and management of the University be and they are hereby anthorized and directed in the operation of the Student Services Building to carry out the following rules: RULE 1. The properties of the Student Services Building in the preambles hereof referred to as the "facilities" shall be continuously operated at alt times when the University is in session. RULE 2. Subject to further action of the Board of Trustees the initial student service charge for the use of the facilities shall be $3.00 per regular school semester, beginning with the fall semester of 1962, and shall be charged to each student enrolled for credit and in attendance on the Urbana Campus of the University for use of the facilities, subject to such adjustments of and exemption from said student service charge as may be made by the Board of Trustees for the summer terms and for part-time students, fellows, and persons on staff appointment. No student shall be admitted to enrollment in any department of the University at the Urbana Campus unless such stndent service charge shall be first or simultaneously paid or appropriate provision made for such paynieii. RULE 3. Insofar as rentals, rates, fees, and other charges are consistent with die maximum use of the facilities, such rates and charges to be made in connection therewith shall be from time to time established and maintained as shall result in net income Sufficient, together with the student service charges, as wilt provide revenue sufficient to provide and maintain the Bond and Interest Sinking Fund Account and the require! reserves therefor and to pay the reasonable cost of operating and maintaining facilities.

On motion of Mr. Swain, this resolution was adopted.

DESIGNATION OF AMERICAN NATIONAL BANK A N D TRUST COMPANY AS CONSTRUCTION F U N D DEPOSITARY

(10) On May 17, 1961, the Board sold the Student Services Building Bonds and the Housing Revenue Bonds of 1960, Series C, to John Nuveen and Company. Chicago. Under the terms of the sale, the purchasers of the bonds are given ihe privilege of designating a depositary of the construction funds for these bonds. John Nuveen and Company reqnest that the American National Bank and Trust Company of Chicago be so designated. Since the University does not have a checking account in this bank, the Vice-President and Comptroller recommend; adoption of the following resolution: Resolution Be It Resolved, that the American National Bank and Trust Company oi Chicago be and hereby is designated a depositary in which construction funds ot The Board of Trustees of the University of Illinois may be deposited by i> officers, agents, and employees and that the Comptroller, or any other officer oi this corporation, be and hereby is authorized to open and maintain an account«' accounts with said Bank and to endorse and deposit with said Bank negotiable instruments and orders for the payment of money which endorsements may tf 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 pw endorsements are guaranteed by this corporation whether or not an express guaranty is incorporated in such endorsements. And Be It Further Resolved, that the American National Bank and Tru'i Company of Chicago as a designated depositary of The Board of Trustees of * University of Illinois be and it is hereby requested, authorized, and directed »