Repository: UIHistories Project: Board of Trustees Minutes - 1964 [PAGE 589]

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544

BOARD OF TRUSTEES

[June 19

Plumbing (Division II)—O'Callaghan Bros., Inc., Chicago. 23 980 Piping, Miscellaneous Equipment, Thermal Insulation (Division III) — S. J. Reynolds Company, Inc., Cicero 497 675 Ventilating and Air-Conditioning Systems (Division IV)—Zack Company, Chicago 17 500 Electrical (Division V) — Fischbach, Moore, and Morrissey, Inc., Chicago ^_J43_300 Total $1 638108 It is also recommended that the plumbing contract and the ventilating and airconditioning systems contract be assigned to the contractor for general work, making the total of his contract $997,833; and it is further recommended that an agreement be entered into with Ragnar Benson, Inc., Chicago, for the assignment of these other contracts for $2,500, which amount is included in the contract price, being the amount bid by the Company for service charge for supervision of other contracts assigned to the general contractor. Funds are available in the state capital appropriations to the University for 1961-63 from the Universities Building Fund and have been released. Submitted herewith is a supporting report from the Physical Plant Department, including schedules of all bids received, a copy of which is being filed with the Secretary of the Board. I concur.

On motion of Mr. Swain, these contracts were awarded, as recommended, by the following vote: Aye, Mr. Clement, Mr. Dilliard, Mr. Johnston, Mr. Pogue, Mr. Swain, Mrs. Watkins, Mr. Williamson; no, none; absent, Mr. Hughes, Mr. Kerner, Mr. Page.

CONGRESS CIRCLE UNION BONDS (18) Five bids were received at 11:00 a.m. June 18, 1963, in the Illini Center, LaSalle Hotel, Chicago, for the sale of $6,800,000 of Congress Circle Union Bonds of 1963, Series A. Bids were received at the same time for certain maturities of $4,000,000 Congress Circle Union Bonds of 1963, Series B, to finance construction of the Congress Circle Union Building and parking lots. The Vice-President and Comptroller recommends that the Series A bonds be sold to White, Weld, and Company and associates, Chicago, at a price of $6,759,326, plus accrued interest and at an effective interest rate of 3.50423 per cent; that $2,780,000 of Series B bonds maturing in 1969 through 1988 be sold to Halsey, Stuart, and Company, Inc., and associates at a price of $2,780,695, plus accrued interest and at an effective interest rate of 3.48892 per cent. These bids represent the lowest interest cost to the University. A schedule of all bids received, a copy of which is being filed with the Secretary of the Board for record, is presented. The Vice-President and Comptroller presents a Loan Agreement [Contract No. H (402)-868] with the Federal Housing and Home Finance Agency and recommends that he be authorized to execute it. In accordance with the provisions of the Loan Agreement, he recommends that $1,220,000 Series B bonds maturing in 1989 through 1993 be sold to the Housing and Home Finance Agency at par and accrued interest and at an interest rate of 3i/j per cent, since no equal or more favorable bid was received for these maturities. The Vice-President and Comptroller also presents the Congress Circle Union Bond Resolution authorizing $6,800,000 Congress Circle Union Bonds of 1963, Series A, and $4,000,000 Congress Circle Union Bonds of 1963, Series B, and recommends its adoption. He further recommends that the Board (1) authorize the execution of the bonds by A. J. Janata, Secretary of the Board, by facsimile signatures of the President of the Board, and by the facsimile signatures of Frances B. Watkins and Timothy W. Swain, members of the Board, and (2) ratify and confirm all actions taken or to be taken by the officers and members of the Board in connection with the sale and delivery of the bonds to the purchasers indicated above. I concur in all the foregoing recommendations. O n motion of Mr. Williamson, these recommendations were approved a n d the Congress Circle Union Bond resolution was adopted