Repository: UIHistories Project: Board of Trustees Minutes - 1958 [PAGE 123]

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BOARD OF TRUSTEES

[October 22

of Women's Residence Halls Revenue Bonds of 1956, of T h e Board of Trustees of the University of Illinois in the principal amount of $3,100,000 for the purpose of providing funds necessary to construct, complete, and equip an addition to the Women's Residence Halls known as the Lincoln Avenue Residences in the City of Urbana, Illinois, fixing the date, maturities, form, and other details of said bonds, and making covenants and provisions for the payment of said bonds and the interest thereon; and WHEREAS, T h e Board of Trustees of the University of Illinois has determined that the project can be completed at a cost of $2,890,000; Now, Therefore, Be It and It Is Hereby Resolved by T h e Board of Trustees of the University of Illinois: T h a t Series B bonds numbered 2891 through 3100 inclusive in the principal amount of $210,000, of which $85,000 will mature October 1, 1995, and $125,000 will mature October I, 1096, be not issued.

On motion of Mrs. Holt, the foregoing resolution was adopted by the following vote: Aye, Mr. Bissell, Mr. Herrick, Mrs. Holt, Mr. Johnston, Mr. Livingston, Mr. Megran, Mr. Swain, Mrs. Watkins, Mr. Williamson; no, none; absent, Mr. Nickell, Mr. Stratton.

P I P E LINE EASEMENT ON W R I G H T FARMS (15) At its meeting of September 18, 1956, the Board of Trustees disapproved a request of the Great Lakes Pipe Line Company for permission to lay a pipe line across Wright F a r m No. 6 in DeKalb County on the ground that the proposed compensation ($2.00 for each rod of pipe laid, plus $5.00 for the easement, plus payment for all damages) was not adequate and the Comptroller was instructed to ascertain whether the Company could secure a better offer. T h e Company has now offered to reimburse the University in the amount of $2.00 for each rod of pipe laid, plus $5.00 for the easement, plus an additional payment of $8.00 per rod to be received for additional compensation for signing of the easement. The $8.00 per rod will be paid to the University under a separate contract between the Great Lakes Pipe Line Company and the University of Illinois. If the Board grants this contract, it should also adopt the following resolution: Now, Therefore, Be It Resolved by the Board of Trustees of the University of Illinois, a public corporation of the State of Illinois, that the Comptroller and the Secretary of the Board of Trustees be and hereby are authorized to execute, acknowledge, and deliver in the name of and in behalf of this corporation, an instrument of conveyance in such form, and other documents in connection therewith, as to them may seem necessary or desirable in order to effectuate a conveyance to the Great Lakes Pipe Line Company, its successors or assigns, hereinafter called Grantee, of a right of easement to construct, maintain, inspect, operate, protect, repair, replace, and remove a pipe line of not more than twelve inches in diameter and appurtenances for the transportation of oil or oil products, gas, and water, and if necessary to construct, maintain, operate, repair, remove, and replace communication facilities with the right of ingress and egress at convenient points to and from said facilities or any of them for the purposes aforesaid on, over, and through the following described property viz: T h e Northwest quarter ( N W %.) in Section twenty-nine (29), Township Thirty-nine North ( T 3 9 N ) , Range Three East ( R 3 E ) , of the Third Principal Meridian in the County of DeKalb and State of Illinois and which pipe line shall extend in an eastwardly direction from a point on the west boundary of said property approximately fifteen feet north of the presently existing pipe line to a point on the east boundary of said property not more than four hundred feet north of the presently existing pipe line; for and in consideration of the payment by said Grantee of the sum of $5.00, the sum of $2.00 per rod for each lineal rod or fraction thereof of pipe laid on the above described premises to be paid upon the laying of the pipe and supplementary payment of $8.00 per rod to be paid on the execution of the easement and upon the agreement by said