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Caption: Board of Trustees Minutes - 1962
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1961] work UNIVERSITY OF ILLINOIS 641 467 00 reorire S. Walker Plumbing and Heating, Inc., for additional drainage _ Funds are available in the construction account for the Graduate Student Residence Halls which is being financed by a revenue bond issue. I concur. On motion of Mr. Johnston, the recommended change orders were authorized without dissent. The four other memhers of the Board present concurred in this action of the Executive Committee. CONTRACT FOR MINOR BUILDING ALTERATIONS AND REPAIRS (U) The Director of the Physical Plant and the Vice-President and Comptroller recommend award of a standing cost-plus contract to M. E. Hollett, Champaign, the lowest bidder, for painting work on minor building alterations, repairs, and construction work for the period July 1, 1961, through March 31, 1962. This contract supplements the awards of cost-plus contracts for genera! work, electrical, plumbing, heating, piping, and refrigeration, and automatic temperature control systems for conditioned air which were aumorized by the Board of Trustees on June 21, 1961. Such contracts are for work which would not justify the cost of preparing separate drawings and specifications and of separate bidding procedures on each project. The terms of the contract with M. E. Hollett will be on the basis of actual costs, plus 10 per cent of cost of materials, 31 per cent of labor costs, and $3.00 per hour for trucking, these percentages representing the contractor's fee. The work will be done as ordered by the Physical Plant Department and will be paid for on the basis of actual cost of each job plus the percentage fees. Wo assignment nt funds is requested; each job will be covered by a contract change order charged against funds allocated for the project. A supporting memorandum from the Physical Plant Department including a schedule of bids received is submitted herewith and a copy is filed with the Secretary of the Board for record. 1 coucur. On motion of Mrs. Watkins, this contract was authorized by the following vote: Aye, Mr. Johnston, Mrs, Watkins, Mr. Williamson; no, none; absent, none. CONTRACT FOR INSURANCE (12) The Finance Committee of the Board has approved a proposal submitted to it (iy the Vice-President and Comptroller for consolidation of the insurance on all properties currently covered at the Urbana-Champajgn campus, the Chicago campuses, farm properties, builders' risk and business interruptions insurance in ;se policy instead of separate policies and to secure bids on such a master policy. All properties acquired in the future which should be insured would be covered by endorsement of the master policy for the remainder of its term. On January 13, 1949 (minutes, page 200), the Board of Trustees adopted a "Report of Finance Committee on Insurance Practices," Section C II of which lirovides that fire and extended coverage on University risks shall be placed with slock and mutual companies at a ratio, as nearly as practicable, of 7S-2S per cent respectively, except that individual risks which are under $50,000 may be placed completely with either stock or mutual companies. It is recommended that this Keport be amended by deletion of Section C II to permit the purchase of a master policy. This provision should be rescinded in any case because it is not consistent nr ^S? "^fP^tions Governing Procurement and Bidding at the University of Illinois," adopted by the Board in 1958, which require that purchases shall be made r lowest cost, and stock and mutual companies are seldom equally low. If the executive Committee approves this recommendation, its action will require coniirmation by the Board of Trustees at a subsequent meeting since a previous action 01 TOBoard is being amended Uids were taken on June 29, 1961, on a single fire insurance and extended ™v"age policy. tThe Vice-President and Comptroller recommends that a policy be K ? i * r o m n e American Casualty Company of Reading, Pennsylvania, the "*Kt bidder, through the H. R. Bresee Agency, Champaign. The policy is for a
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