Caption: Board of Trustees Minutes - 1952
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i95°] UNIVERSITY OF ILLINOIS 381 The office of the Legal Counsel and the Comptroller request that the Board join with the University of Wisconsin in requesting the attorney for the executor to seek a court ruling. If the court rules that a California trustee is necessary, the Comptroller recommends that the Board of Trustees assent to the appointment of the Security First National Bank of Los Angeles. I concur. On motion of Dr. Meyer, this recommendation was approved. ESTATE O F ALBERT BELLAMY (34) The will of the late Albert Bellamy, Class of 1881, who died January 13, 1948, in Oak Park, Illinois, includes the following bequest to the University of Illinois: "23. When all of my just indebtedness has been paid, and when all of the specific legacies above listed have been turned over by my Executor to the persons entitled thereto, then I want the balance of my estate to be divided by the Executor into two equal parts, and when thus divided I want my Executor to pay the full equal one-half part of my net estate to the proper officers or authorities, of the organization that now exists as T H E UNIVERSITY OF ILLINOIS, located at URBANA in this State, which organization has for its generous object the helping of students at the University of Illinois, who need financial assistance in the procuring of an education. As I write this instrument I do not have the correct name of this organization but I know that it is now functioning in the assistance of students who need financial help, and I know that my Executor knows the name of the organization that I have in mind and I am now directing that the full equal one-half part of my net estate shall be paid over to the proper officials of such organization and I want the money used in assisting needy students to acquire an education." The other half of the net estate goes to Blackburn College at Carlinville, Illinois. There were specific bequests of $18,000. The will has been probated and a considerable proportion of the estate reduced to cash and payment of specific bequests has been made. There is now available for payment to the University of Illinois the sum of $55,862.09. The sum of $10,000 is retained against the remote possibility of further tax assessment. The Administrator requests that the Board of Trustees assent to the conditions of the will as they affect the University and authorize the acceptance of the distribution of $55,862.09 now offered and any additional funds that may accrue. The office of the Legal Counsel and the Comptroller recommend the approval of this request. I concur and at a later time will recommend a plan for the use of the fund. On motion of Mr. Livingston, this recommendation was approved. UNIVERSITY OF ILLINOIS FOUR-YEAR REPORT At this point the President of the University submitted a report on the state of the University covering the period 1946 to 1950. Copies of the report were distributed to all Trustees at the meeting and were subsequently sent to the absentee members. A copy was filed with the Secretary of the Board for record. On motion of Mrs. Watkins, publication of this report was authorized. BIENNIAL BUDGET 1951-1953 (35) The President presented the following recommendations for the biennial operating budget of the University for the two years beginning July 1, 1951, covering all funds for which appropriations are made by the General Assembly. These estimates are submitted as the proposed basis for the budget to be filed with the Department of Finance on or before November 1, 1950, as required by law.
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