| |
| |
Caption: Board of Trustees Minutes - 1958
This is a reduced-resolution page image for fast online browsing.
EXTRACTED TEXT FROM PAGE:
19571 UNIVERSITY OF ILLINOIS I003 Total Cost: $23,500. Terms of Payment: $5,000 to be placed in escrow at the time the contract of sale is executed, and to be paid to the sellers as soon as all deeds are placed in escrow including the guardian's deed; the University will pay $18,500 at the time of possession on or before September 1, 1958. The sale of this property to the University is subject to approval of the County Court of Champaign County, Illinois, in the matter of the guardianship of Sandralee Hocking, a minor. Flossie M. Hocking, guardian, will proceed to obtain this approval at her expense at the earliest practicable date after the execution of the contract for sale. Upon approval of sale and issuance of guardian's deed, this deed will be placed in escrow. The property consists of a lot 63 feet wide and 199 feet deep and a two-story frame house used as a student rooming house. The land will be needed as a part of the site for the construction of a residence hall for approximately 1,000 single undergraduate men, Stage 4 in the University's Program for Housing Students as approved by the Board January 28, 1956; first hall and dining room originally scheduled to be completed by fall of i960; second hall, 1961; third hall, 1062. The contracts negotiated for the acquisition of these properties include provisions that the owners shall be permitted to retain possession until September 1, 1958, rent free, and that they shall pay all taxes levied for 1957 (taxes levied for 1958 to be prorated) and insurance and keep up and maintain the buildings during the entire period of their occupancy. The sales prices are in line with the appraised values. Funds are available in the state capital appropriations for 1957-59 for land acquisitions and have been released by the Governor. I concur and recommend that the Comptroller and the Secretary of the Board be authorized to execute the necessary documents for the acquisition of these properties, subject to approval of the title in each case by the Legal Counsel. On motion of Mr. Bissell, these purchases were authorized, as recommended, by the following vote: Aye, Mr. Bissell, Mr. Herrick, Mrs. Holt, Mr. Hughes, Mr. Johnston, Mr. Livingston, Mr. Swain, Mrs. Watkins, Mr. Williamson; no, none; absent, Mr. Nickell, Mr. Stratton. On motion of Mr. Johnston, the Board adjourned. A. J. JANATA PARK LIVINGSTON Secretary President
| |
