Repository: UIHistories Project: Board of Trustees Minutes - 1948 [PAGE 1000]

EXTRACTED TEXT FROM PAGE:

1948]

UNIVERSITY OF ILLINOIS

999

and directed to execute all instruments, papers and documents necessary or convenient to accomplish the issuance of $400,000 Men's Residence Halls Revenue Bonds of 1948, and the reacquiring and revesting of all of the trust property held by the University of Illinois Foundation, as Trustee under that certain Trust Agreement dated the 1st day of September, 1941, and known as the "Men's Residence Hall, University of Illinois Operating Trust Agreement," and that the Treasurer is authorized and directed to deposit the proceeds of the sale of said bonds, including funds now available in the Men's Residence Halls Fund Account, in such bank or banks as may be requested by the Connecticut Mutual Life Insurance Company or the University of Illinois Foundation. A f t e r d i s c u s s i o n , a n d o n m o t i o n of M r . W i l l i a m s o n , s e c o n d e d b y M r s . H o l t , R e s o l u t i o n N o . 2 w a s a d o p t e d a s r e c o m m e n d e d , b y t h e following vote: Aye, M r . Davis, M r . Fornof, M r s . Holt, Mr. Livingston, Dr. Luken, M r . McKelvey, Dr. Meyer, M r . Williamson; no, none; absent, M r . Green, M r . McLaughlin, M r . Nickell. R E S O L U T I O N NO. 3

RESOLUTION DESIGNATING T W O MEMBERS OF THE BOARD OF TRUSTEES WITH THE OFFICERS TO EXECUTE THE $400,000 M E N ' S RESIDENCE H A L L S REVENUE BONDS

Resolved that Trustees, Frank H . McKelvey and Kenney E. Williamson, be and they are hereby designated and directed to execute the proposed Men's Residence Halls Revenue Bonds of 1048, together with the President and Secretary of the Board of Trustees of the University of Illinois, as required by the resolution heretofore adopted authorizing the issuance of said bonds. O n m o t i o n of M r . D a v i s , s e c o n d e d b y M r s . H o l t , R e s o l u t i o n N o . 3 was adopted as recommended, by the following vote: A y e , M r . Davis, M r . Fornof, M r s . Holt, M r . Livingston, Dr. Luken, Dr. M e y e r ; not voting, M r . McKelvey, M r . Williamson; no, n o n e ; absent, M r . Green, M r . McLaughlin, M r . Nickell. ADJUSTMENTS IN THE 1 9 4 7 - 1 9 4 8 ATHLETIC ASSOCIATION BUDGET TO JANUARY 3 1 , 1 9 4 8 (18) In approving the Athletic Association Budget for the year 1947-1948 (Minutes, August 5, 1947, page 491), the Board of Trustees authorized the President to make changes and adjustments as recommended by the Athletic Association Board of Directors within the total estimated income. Following is a statement of adjustments thus made to January 31, 1948, not previously reported: July and August salaries of new football coaches $1 016 65 Salary of part-time assistant wrestling coach 300 00 Appropriation for football banquet for Junior Varsity and 150-pound squads 5°° °o Salaries of part-time assistants for coaching Freshmen and 150-pound football squads 600 00 Appropriation for high school fencing clinic 500 00 Appropriation for a southern baseball training trip 2 500 00 Appropriation for complete study of Kimmel Farm area and preparation of alternate golf course layout 2 000 00 O n m o t i o n of M r . D a v i s , t h i s r e p o r t w a s r e c e i v e d f o r r e c o r d . PURCHASES (19) Submitted herewith are: A. Recommendations for purchases; B. Report of purchases authorized by the President of the University (see Appendix, page 1034). O n m o t i o n of M r . W i l l i a m s o n , p u r c h a s e s w e r e a u t h o r i z e d a s r e c o m m e n d e d , a n d t h e a c t i o n of t h e P r e s i d e n t of t h e U n i v e r s i t y in authorizing emergency purchases was approved and confirmed.