Repository: UIHistories Project: Board of Trustees Minutes - 1942 [PAGE 307]

EXTRACTED TEXT FROM PAGE:

304

BOARD OF TRUSTEES

[May 27

T H I R D SESSION, MAY 27, 1941 When the Board convened after the second recess in the meeting of May 27, 1941, the following members were present: President Cleary, Mr. Adams, Mr. Davis, Mr. Fornof, Mr. Jensen, Mr. Karraker, Mr. Livingston; also the officers listed above (page 294).

APPROVAL OF HOUSE BILLS 4 7 1 AND 4 7 2

Mr. Karraker, for the special committee, reported that the committee had visited the Attorney General and the Governor, that they had found both officials most friendly and cooperative, and that the Governor had signed the bills to authorize the refinancing of the Medical and Dental Building bonds, and other similar obligations, in their presence. On motion of Mr. Karraker, the President of the Board was requested to send to Governor Green and Attorney General Barrett an expression of the Board's appreciation of the friendly cooperation of these officers of the State in this emergency.

H O U S E B I L L 471 A N A C T to authorize the Board of Trustees of the University of Illinois to provide for the payment and termination of any trust created by and between the Board of Trustees and any person or corporation pursuant to any law involving any building used by said University for student social activities or educational purposes, or for the acquiring or reacquiring of property or interest in property used by said University for student social activities or educational purposes and conveyed in connection with the creation of such trust by said Board of Trustees pursuant to any existing law, levy and collect service charges, rates or rentals for the use thereof, to complete the construction of or equip any such buildings, defining the duties of said Board with respect to operation and maintenance and construction thereof, and providing for and authorizing the issue of bonds to defray the cost thereof payable solely from the revenues derived from the operation of any such building or buildings and for the refunding of any such bonds. Be it enacted by the People of the State of Illinois, represented in the General Assembly: Section I. T h e Board of Trustees of the University of Illinois is hereby authorized t o : ( a ) Provide for the payment and termination of any trust heretofore created by and between the Board of Trustees and any person, firm or corporation pursuant to any existing law, involving any building now used by said University for student social activities or educational purposes or for the reacquiring of any property or interest in property now used by said University for student social activities or educational purposes and heretofore conveyed in trust by said Board of Trustees pursuant to any existing law, and pledge the revenues thereof for any or all such purposes. ( b ) Maintain and operate any such buildings, and to charge for the use thereof, and to carry on such activities in connection therewith as will produce a reasonable excess of income over maintenance and operation expenses. (c) Hold in the treasury of the University of Illinois all funds derived from the operation of any such building or buildings and to apply the same toward the cost of and maintenance and operation thereof, and toward the retirement of any bonds issued in connection with the acquisition, completion, construction or equipment thereof. ( d ) Enter into contracts touching in any manner any matter within the objects and purposes of this Act.