Repository: UIHistories Project: Board of Trustees Minutes - 1952 [PAGE 761]

EXTRACTED TEXT FROM PAGE:

858

BOARD OF TRUSTEES

[Juty 25

5. To identify and guarantee assignments, transfers, and endorsements fortransfer on such bonds, stock certificates, interim, participation, and other certificates and to identify and guarantee signatures on bond and stock powers of attorney pertaining thereto, and 6. To waive presentment, demand, protest, and notice of dishonor or protest and to give instructions in regard to the handling or delivery of any negotiable or non-negotiable documents received from said estate or deposited in said account, and 7. To sign reconcilements and certify to the correctness of statements pertaining to said account and approve and authorize adjustments therein, and 8. To act for The University in the transaction of business pertaining to said account and to sign orders and issue instructions to the Continental Illinois National Bank and Trust Company of Chicago in connection with funds received from the estate of said George A. Miller, and Be It Further Resolved, that the Continental Illinois National Bank and Trust Company of Chicago shall receive customary and reasonable compensation for the services specified herein, and Be It Further Resolved, that A. J. Janata, Secretary of the Board of Trustees, be authorized to delegate to Everett G. Smith, Executive Clerk in the President's Office, and Maude Archdeacon, Chief Clerk in the Board of Trustees' Office, authority to sign his name to orders for the purchase, sale, or transfer of securities held in the herein provided depositary and safekeeping agency, as approved by this Board or its committees acting under due authority; and that Lloyd Morey, Comptroller, be authorized to delegate to C. C. DeLong, Bursar, and H. O. Farber, Assistant Comptroller, authority to sign his name to such orders under the same circumstances, and Be It Further Resolved, that the officers named pursuant to this resolution are authorized to take all such actions as may be necessary to carry out the intent hereof, and Be It Further Resolved, that the Secretary of the Board of Trustees of the University of Illinois be and he hereby is authorized to certify to said Bank a copy of these resolutions and the names and signatures of the Board's said officers and their said deputies hereby authorized to act in the premises, and said Bank is hereby authorized to rely upon said certificate until formally advised by a subsequent and like certificate of any changes therein, and is also authorized to rely on any such additional or subsequent certificates.

On motion of Mr. Megran, this resolution was adopted by the following vote: Aye, Mr. Fornof, Mr. Grange, Mr. Hickman, Mrs. Holt, Mr. Johnston, Mr. Livingston, Mr. Megran, Mr. Nickell, Mrs. Watkins; no, none; absent, Mr. Herrick, Mr. Stevenson.

ACCEPTANCE OF GRANT OFFER OF THE ADMINISTRATOR OF CIVIL AERONAUTICS ~~

(32) The University has undertaken to make certain improvements at its airport under a plan of cooperation with the Civil Aeronautics Administration and the State Department of Aeronautics whereby those two agencies and the University will provide funds for the improvements. Although the Board of Trustees has already authorized this program, and the Executive Committee of the Board has taken supplementary action approving certain modifications in this plan, the federal authorities now require adoption of the following formal resolution: Resolution Accepting, Adopting, and Authorising Execution of Acceptance of Grant Offer of the Administrator of Civil Aeronautics, Constituting Grant Agreement Between the Board of Trustees, University of Illinois, and the State of Illinois, Department of Aeronautics, Co-Sponsors, and the United States WHEREAS, the Administrator of Civil Aeronautics, for and in behalf of the United States, has extended to the Board of Trustees, University of Illinois and the State of Illinois, Department of Aeronautics, Co-Sponsors, a formal Grant Offer, dated March 17, 1951, pursuant to the Project Application of the Board of Trustees, University of Illinois and the State of Illinois, Department of Aero-