Repository: UIHistories Project: Board of Trustees Minutes - 1952 [PAGE 526]

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UNIVERSITY OF ILLINOIS

623

distance of 193.69 feet; thence South parallel with the West line of said South Wood Street a distance of 152 feet; thence East parallel with the South line of said West Polk Street a distance of 85.69 feet; thence South parallel with the West line of said South Wood Street a distance of 18.60 feet; thence East parallel with the South line of said West Polk Street a distance of 108 feet to the West line of said South Wood Street; and thence North along the West line of said South Wood Street a distance of 170.60 feet to the point of beginning; in the City of Chicago, Cook County, Illinois. and said building be remodeled to provide additional laboratory and research space. 4. T h a t the existing buildings located on Lots 3 to 7, inclusive, and Lot 14, in Sturges et al Resubdivision of Block Nine (9) in Assessor's Division of the East Half ( E ^ ) of the Southeast Quarter ( S E J 4 ) of Section Eighteen (18), Township Thirty-nine (39) North, Range Fourteen (14) East of the Third Principal Meridian, be repaired and rehabilitated for use as student residences and staff housing, and all other existing buildings on the Staff apartment site described in subdivision 2 of this preamble be removed; and W H E R E A S this Board of Trustees of the University of Illinois has heretofore caused to be prepared plans and specifications for the construction, rehabilitation and equipment of said above described buildings, which plans have been approved by this Board of Trustees and are now on file in the office of the physical plant department of said University at 1716 West Taylor Street, in the City of Chicago, Illinois; and W H E R E A S this Board of Trustees of T h e University of Illinois does further find, determine and estimate that the cost of the construction, completion and equipping of the said buildings, hereinabove described, in accordance with bids heretofore received for that purpose, will be as follows: 1. Constructing and equipping student residence hall $2 456 457 2. Constructing and equipping staff apartment I 811 162 3. Remodeling and equipping of Second Unit of Dental, Medical, and Pharmacy Building 100 000 4. Repairing and rehabilitating of existing buildings on Lots 3 to 7, inclusive, and Lot 14, above described 35 000 5. Demolition of all other existing buildings now located on the tracts of property described above 5 000 6. Provision for contingencies 192 381 Total $4 600 000 and W H E R E A S pursuant to "An Act to authorize the Board of Trustees of the University of Illinois to acquire by purchase or otherwise, construct, equip, complete, operate, control, and manage student residence halls, staff housing facilities, dormitories, health and physical education buildings, or other revenue producing building or buildings, defining the duties.of such Board with respect to operation and maintenance thereof, charge fees or rates for the use thereof, and providing for and authorizing the issue of bonds for the purpose of defraying the cost of construction, acquisition or equipment of any such building or buildings, payable solely from the revenues derived from the operation thereof, and for the refunding of any such bonds," approved June 30, 1045, L. 1945, p. 1753; title as amended by Act approved July 21, 1947, this Board of Trustees is authorized to issue revenue bonds for the purpose of constructing, equipping and completing said above described buildings, payable solely from the revenues to be derived from the operation of said buildings; and W H E R E A S in order to produce the sum of $4,600,000 for said above described purpose, it will be necessary that this Board of Trustees borrow money and issue revenue bonds in the principal amount of $4,600,000 as authorized pursuant to the Act hereinabove referred t o ; N O W , T H E R E F O R E , Be It and It Is Hereby Resolved by The Board of Trustees of the University of Illinois, as follows: SECTION I . T h a t it be and it is hereby determined by T h e Board of Trustees