Repository: UIHistories Project: Board of Trustees Minutes - 1958 [PAGE 380]

EXTRACTED TEXT FROM PAGE:

1957]

UNIVERSITY OF ILLINOIS

377

Aermotor shares in whole or in part, (b) the continued operation of Aermotor Corporation or its merger with or into any other corporation or corporations, and (c) the sale or liquidation of all or part of the business and assets of Aermotor Corporation. T h e administrative trustees would receive no compensation for their services but would be entitled to be reimbursed for all costs and expenses incurred in the administration of the administrative trust estate and would be relieved for mistakes of law or of fact, or for errors in judgment in exercising the powers conferred upon them except for individual malfeasance. The agreement would terminate on February 28, 1962, unless prior to that date a sale of, or full liquidating distribution on all Aermotor shares should occur, in which latter event, the agreement would terminate 120 days after the payment of the purchase price or receipt of the final liquidating distribution. Within at least thirty days prior to the termination of the agreement, the administrative trustees would make distribution ratably to the colleges, in accordance .with their respective fractional interests in the trust estate, of all money and property remaining in the administrative trust estate after payment of all costs and expenses of the administrative trustees or provision therefor. I recommend ( a ) that the proposed agreement, a copy of which is presented at this meeting, be approved and the President and the Secretary of the Board of Trustees be authorized to execute the same; and (b) that H . O. Farber be authorized to act as an administrative trustee in accordance with the terms thereof.

On motion of Mr. Herrick, these recommendations were approved.

PETITIONS FROM STUDENTS A N D STAFF REGARDING ASSEMBLY HALL (24) The Secretary of the Board has received petitions signed by a number of members of the faculty and students relating to the general form of the Assembly Hall and the facilities to be provided for therein. The text of the resolution is submitted herewith and a copy will be filed with the Secretary for record. The resolution was circulated for signature prior to the Board of Trustees meeting on March 12, but was received too late for presentation to the Board at that meeting. While the petitions were in circulation, The Daily Illini published an excellent statement by Professor Norman A. Parker, Chairman of the Building Program Committee, concerning the Assembly Hall project which has clarified most, if not all, of the questions in the minds of the petitioners. Nevertheless, their petition is submitted herewith together with a statement by Professor Parker.

On motion of Mr. Swain, this petition was referred to the President of the University.

PURCHASES Purchases Authorized (25) The following purchases were authorized by the President's Office on the recommendation of the Director of Purchases and the Vice-President and Comptroller.

Item 250 Western Electric type GA-53233 transistors 3,000 copies of Contemporary Farmhouses (reprint) Department Digital Computer Laboratory University Press Vendor Western Electric Co., New York, N.Y. Interstate Printers & Publishers, Inc., Danville Cost $10 000 00 f.o.b. Laureldale, Pa. 3 587 00 f.o.b. delivered

The following purchases were approved by the Vice-President and Provost, acting for the President, pursuant to authorization by the Board of Trustees to act on recommendations for purchases under International Cooperation Administration Contracts. All of these purchases will be from funds supplied by the I.C.A. under its contract with the University for educational services to institutions of higher education in India.

Item Twenty-eight pieces decade capacitor and inductor equipment Department International Cooperation Administration Contracts Vendor Freed Transformer Co., Brooklyn, N.Y. Cost 3 4 266 00 f.o.b. Brooklyn, N.Y.