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Caption: Board of Trustees Minutes - 1950
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1949] UNIVERSITY OF ILLINOIS 399 2. That said Foundation as such trustee be and it is hereby authorized, empowered, and directed to do and perform any and all acts and things necessary to complete and equip said buildings; 3. That all funds now on hand out of said $400,000 appropriation and out of said allocation of $251,700 hereinabove referred to shall be made available to said Foundation for the cost of construction and furnishings and used toward or reserved and set aside for such purposes before any of the proceeds of said interim financing or sale of Bonds shall be so used; Provided, However, that the obligations created by these resolutions or under leases, trust agreements, or otherwise incurred by the Board of Trustees in connection with said project, shall not be a debt of the State of Illinois, and the State shall not be liable thereon; and Provided Further, that the notes, bonds, and other obligations of the University of Illinois Foundation in connection with said project shall not be a debt of the Board of Trustees of the University of Illinois or the State of Illinois, and neither the Board nor the State shall be liable thereon; and Provided Further, that, wherever reference is made in any of these resolutions to Modern Woodmen of America and Royal Neighbors of America, such reference may include either or both of said corporations.
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