Repository: UIHistories Project: Board of Trustees Minutes - 1952 [PAGE 760]

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UNIVERSITY OF ILLINOIS

85^

T h e Committee on Fees and Scholarships has reviewed the whole situation and now recommends that all resident students, including persons with part-time appointments to the staff, who are registered for more than one unit of graduate work or for more than five hours of undergraduate work be required to become members of the hospital and medical service plan for students. I concur.

On motion of Mrs. Holt, this recommendation was approved.

DEPOSITARY FOR GEORGE A. MILLER F U N D (31) T h e Executive Committee on July 5, 1951, selected the Continental Illinois National Bank and T r u s t Company of Chicago, through its Trust Department, for safekeeping of securities and advice as to investments of the George A. Miller Fund. In connection therewith, the following resolution is required. It has been approved by the Legal Counsel and its adoption is recommended by the Comptroller. Resolution WHEREAS, under the will of the late Professor George A. Miller the Board of Trustees of the University of Illinois (hereinafter designated as The University) is to receive a certain bequest of cash and securities, and WHEREAS, it is the present intention of The University that said bequest be held intact as an endowment fund, to be invested in stocks, bonds, or other income producing securities and the income accruing thereon disbursed for certain educational purposes as provided in said will, and WHEREAS, it is deemed desirable that said securities be kept in a safe place, with the income collected by the safekeeping agency, Now Therefore Be It Resolved, that the Continental Illinois National Bank and Trust Company of Chicago be and it hereby is designated as the depositary and safekeeping agency, in which bonds, stocks, securities, and other properties acquired from the estate of the said George A. Miller, or purchased or otherwise acquired from funds received from said estate which are the property of T h e University, may be deposited by its officers, agents, and employees, and Be It Further Resolved, that Lloyd Morey, Comptroller, and A. J. Janata, Secretary of the Board of Trustees, acting jointly, be authorized, as approved by this Board or its committees acting under due authority, and upon such terms and conditions as to them shall seem proper: 1. T o deliver to and deposit with the Continental Illinois National Bank and Trust Company of Chicago for safekeeping, custody, or other purposes any funds, bonds, stocks, securities, or other property owned or otherwise held by T h e University received from said estate of George A. Miller, and in connection therewith to open and maintain with said Continental Illinois National Bank and Trust Company of Chicago a safekeeping or custody account or accounts and to make the initial deposit therein and from time to time to make other and additional deposits and to sign orders and issue instructions to said Continental Illinois National Bank and Trust Company of Chicago for the conduct of said account or accounts, and 2. T o cause to be withdrawn on the responsibility of, and at the risk of The University, and to sign orders and issue instructions for the handling, transfer, registration, sale, substitution, exchange and delivery of, any such funds, bonds, stocks, securities, and other property and the proceeds thereof, delivered to, deposited with, or otherwise held by said Continental Illinois National Bank and Trust Company of Chicago for the account of T h e University. Such withdrawals, substitutions, exchanges, and deliveries, whether subject to payment or not and whether pursuant to sale, exchange, or other transaction, may also be made by the bearer of any order, receipt, or request so signed, and 3. T o purchase with such funds bonds, stocks, securities, and other property and to sign orders and issue instructions in connection with the purchase, payment, and registration thereof, and _ 4. T o sell, pledge, transfer, assign, exchange, deposit with any reorganization committee, bondholders protective, or other committee or otherwise dispose of any such bonds, stocks, securities, and other property belonging to or standing in the name of The University or its nominee or held by The University for the account of others, and to sign orders and issue instructions regarding the handling of any matters connected with such transactions, and