| |
| |
Caption: Board of Trustees Minutes - 1950
This is a reduced-resolution page image for fast online browsing.
EXTRACTED TEXT FROM PAGE:
1949] UNIVERSITY OF ILLINOIS 8l7 BOND ISSUE FOR SMALL HOMES C O U N C I L HOUSING RESEARCH PROJECT (2) T h e Executive Committee on March 29, 1949, in approving the Small Homes Council Housing Research Project, authorized the Comptroller to secure offers on funds to be borrowed ($175,000 out of a total of $500,000) for submittal through the Finance Committee to the Board. Bids on a revenue bond issue were received as of September 12, 1949 (schedule of bids received and circular inviting same a r e attached). The low bid is by John Nuveen & Company, 135 South LaSalle Street, Chicago, for an average interest rate of 2.724 per cent, the bonds to be sold to them at par plus a premium of $40. T h e bonds are dated October 1, 1949, and delivery is to be made on or about that date. Interest rates and maturities a r e : $4,000 — Oct. 1, 19502*4% $9,000 — Oct. 1, 1 9 6 0 2 ^ % 6,000 — Oct. 1, 1951 2}4% 9,000—Oct. I, 1961 224% I 6,000 — Oct. 1, 1952 2 /2% 9,000 — Oct. 1, 1 9 6 2 2 ^ % 7,000 — Oct. 1,1953 2*4 % 10,000 — Oct. 1,1963 224% 7,000 — Oct. 1,1954 2^4% 10,000 — Oct. i , 1964 224% 8,000 — Oct. 1, 19552^4% 10,000 — Oct. 1, 1965224% 8,000 — Oct. 1,1956214% 10,000 — Oct. 1, 1966224% 8,000 — Oct. 1, 19572^4% 10,000 — Oct. 1,1567224% 8,000 — O c t . 1, 1958224% 10,000—Oct. 1, 1968224% 8,000 — O c t . 1, 1959224% 18,000 — O c t . 1,1969224% The Finance Committee has reviewed the bids and recommends the sale of the bonds to the low bidder, John Nuveen & Company. This firm has requested that the Marine National Exchange Bank of Milwaukee be named the paying agent. T h e Finance Committee has approved that request. A resolution for adoption by the Board has been prepared by Chapman and Cutler and is presented herewith for approval (see Appendix, page 886). The Comptroller commented on this matter. After discussion, and on motion of Mr. Fornof, this sale of bonds was authorized and the resolution was adopted as recommended by the following vote: Aye, Mr. Fornof, Mr. Herrick, Mr. Livingston, Mr. McLaughlin, Dr. Meyer, Mr. Nickell, Mrs. Watkins, Mr. Williamson; no, none; absent, Mr. Hickman, Mrs. Holt, Mr. Stevenson. President Williamson designated Mr. Livingston and Mrs. Watkins as representatives of the Board to sign the bonds with him. AWARD OF CERTIFICATES OF CERTIFIED PUBLIC ACCOUNTANT (3) T h e Committee on Accountancy recommends that the certificate of Certified Public Accountant be awarded the following who have made applications therefor under Section 5 of the Accountancy Act of 1943 and who have submitted evidence that they a r e holders of valid and unrevoked certificates of certified public accountants obtained in other states by passing the regular written examinations. They have also met the other requirements specified in Section 5 of the Act. A B E A. A L K ( W i s . ) MARY NOEL BARRON (Ky.) GEORGE H A N N A M A N BREWER ( I n d . ) JAMES LLOYD F O X ( M O . ) P A U L JOSEPH FRITCH (Colo.) W I L L I A M T H O M A S HAZELTON ( N . Y . ) ALVAH ORVIS LABERTAUX ( I n d . ) JACOB K A Y LASSER ( N . J . ) CARLOS EDGAR MILNER (Ohio) GAILE MCCLURE PARENT (Me.) WESTON R A N K I N ( N . Y . ) ERNEST WARREN REED ( T e x . ) CECIL LOUIS RICHARDSON ( M O . ) WALTER FLETCHER SCOTT ( M O . ) GEORGE WEBSTER WALLACE ( O h i o ) I concur. On motion of Mrs. Watkins, these certificates were awarded as recommended.
| |
