Repository: UIHistories Project: Board of Trustees Minutes - 1956 [PAGE 256]

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1955]

UNIVERSITY OF ILLINOIS

253

R e p o r t of C o m p t r o l l e r Dentistry-Medicine-Pharmacy Building Revenue Bond Fund — Construction (Purchases authorized by Board of Trustees Resolution dated March 15, 1951, Minutes, page 632.) Purchases $50,000 U. S. Treasury Bills due January 27, 1955 $49 920 92 50,000 U. S. Treasury Bills due February 10, 1955 49 905 47 25,000 U. S. Treasury Bills due March 24, 1955 24 047 22 50,000 U. S. Treasury Bills due April 7, 1955 49 859 36 40,000 U. S. Treasury Bills due April 21, 1955 39 911 60 50,000 U. S. Treasury Bills due May 5, 1955 49 891 11 Dentistry-Medicine-Pharmacy Building Revenue Bond Fund of 1951 (Business Manager, Chicago Professional Colleges, authorized to purchase by Board of Trustees, December 16, 1953, Minutes, page 1191.) Purchase $150,000 U. S. Treasury Bills due February 24, 1955 $149 664 00

This report was received for record. BUSINESS PRESENTED BY THE PRESIDENT OF THE UNIVERSITY At this point the Board took up consideration of the following reports and recommendations from the President of the University.

SALE OF UNIVERSITY HOUSES (1) Pursuant to the plan authorized by the Board of Trustees for the sale of University-owned residence properties in Urbana-Champaign which are outside the area of future campus expansion, the Director of the Physical Plant and the Comptroller recommend the sale of the following residence properties owned by the Location 702 East Washington Street, Urbana 504 South Chicago, Champaign 608 South Chicago, Champaign 606 South Coler Street, Urbana Purchaser Perry L. and Thelma P. Huie George R. Beam Noah E. and Marie A. Bacon Charles E. and Dolores S. Wertz Sale Price £10 750 00 10 750 00 10 500 00 10 000 00 University Investment $8 552 00 8 692 00 8 761 09 None; part of George A. Miller Estate bequeathed to the University

The first three listed are National Homes buildings constructed in 1946. T h e University investment includes the original cost plus subsequent improvements. The sale price in each case was determined by an independent appraisal by a real estate expert. T h e fourth property was acquired in October, 1954, as a part of the George A. Miller Estate. The Executor's inventory of the estate listed the value of this property as $11,000, but the sale price has been determined by an independent appraisal by a real estate expert. I concur and recommend adoption of the following resolutions: Resolution WHEREAS, Perry L. Huie and Thelma P . Huie, his wife, of 122 South Race Street, Urbana, Illinois, hereinafter termed "Purchasers," have offered to purchase the hereinafter described property known as 702 East Washington Street, Urbana, Illinois, upon the terms and conditions hereinafter set forth; Now, Therefore, Be It Resolved by the Board of Trustees of the University of Illinois, a public corporation of the state of Illinois, that the Comptroller and Secretary of this Corporation be, and they hereby are, authorized and directed, in