Repository: UIHistories Project: Board of Trustees Minutes - 1964 [PAGE 905]

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860

BOARD OF TRUSTEES

[October 26

On motion of Mr. Johnston, this recommendation was approved, and the assignment of funds required for supplemental annuities was authorized; this action was taken by the following vote: Aye, Mr. Clement, Mr. Dilliard, Mr. Hughes, Mr. Johnston, Mr. Page, Mr. Pogue, Mr. Swain, Mrs. Watkins, Mr. Williamson; no, none; absent, Mr. Kerner.

UNITED STUDENT AID FUNDS. INCORPORATED (16) The Board has authorized a contract with the United Student Aid Funds, Incorporated, whereby deposits made with that agency by the University guarantee loans obtained by its students from banks in their home areas. Of the $5,000 authorized, $2,000 was advanced in May, 1963, by the University of Illinois Foundation to the University, which was then deposited with USA Funds and, when matched by an equivalent amount by the U S A Funds, made possible loans aggregating $50,000. This amount was completely loaned within a few weeks. Authorization is requested to accept an additional $10,000 from the Foundation for this purpose and to deposit it with the U S A Funds as required, which will result in a total authorization of $15,000. While U S A Funds can give no assurance at present as to what amount, if any, can be assigned by it to match the University contribution, each dollar of the deposit, consisting of the University advance and U S A Funds matching funds, is used by U S A Funds to guarantee $12.50 in loans obtained by students from their local banks. O n m o t i o n of M r s . W a t k i n s , a u t h o r i t y w a s g i v e n a s r e q u e s t e d . BEQUESTS OF DR. L. C. H. E. ZEIGLER. DECEASED (17) The will of the late Dr. L. C. H . E. Zeigler of Chicago includes two bequests to the University, each approximately $3,000, one to the University without restriction and the other for the Research and Educational Hospitals. The attorneys for the estate have requested adoption of a resolution by the Board of Trustees authorizing acceptance of these bequests. The following resolution is submitted. Resolution WHEREAS, L. C. H . E. Zeigler, a resident of Chicago, Illinois, departed this life on the 17th day of March, 1961, leaving a Last Will and Testament and Codicil which have been duly admitted to probate in Cook County, Illinois, said Last Will and Testament containing provisions for bequests as follows: University of Illinois — Chicago Research and Educational Hospitals and Illinois State University. Now, Therefore, Be It, and It Is Hereby, Resolved, by this Board of Trustees of The Board of Trustees of the University of Illinois, that the said bequests be and the same are hereby accepted by said The Board of Trustees of the University of Illinois for the uses and purposes therein set forth; and Be It Further Resolved that C. C. DeLong, as Bursar of the University of Illinois, be and he is hereby authorized to accept payment on behalf of said The Board of Trustees of the University of Illinois, and to execute and deliver to John O. Root, William Culbertson, Henry C. Crowell, Ernest C. Christiansen, and Stanley Staiger, Executors of the Last Will and Testament and Codicil of said L. C. H. E. Zeigler, Deceased, the receipt of said The Board of Trustees of the University of Illinois in satisfaction thereof. Dr. Zeigler's will includes the lists of some 450 legatees and devisees. His bequests to the University are under the names of "Illinois State University" and "University of Illinois — Chicago Research Hospitals," each being approximately $3,000, or a total of $6,000. The above resolution authorizes acceptance of both. O n m o t i o n of M r . J o h n s t o n , t h i s r e s o l u t i o n w a s a d o p t e d . PURCHASES Purchases Authorized (18) The following purchases were authorized by the President's Office on the recommendation of the Director of Purchases and the Vice-President and Comptroller. Unless otherwise specified, the purchase in each case was recommended on the basis of the lowest acceptable bid.